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West Red Lake Gold Mines Ltd V.WRLG

Alternate Symbol(s):  WRLGF | V.WRLG.WT | WLGMF | V.WRLG.WT.A | V.WRLG.NT.U | V.WRLG.WT.B

West Red Lake Gold Mines Ltd. is a Canada-based mineral exploration company. The Company is focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 square kilometers (km2) highly prospective land package in the Red Lake district of Ontario. The Madsen Property comprises a contiguous group of approximately 251 mining leases, mining patents and unpatented mining claims covering an aggregate area of 4,648 hectares (46.5 km2). It also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines: Rowan, Mount Jamie, and Red Summit. The Rowan Property is comprised of 146 claims, including 58 patented claims, 20 leased, 65 staked crowns and three under license of occupation. The 3,100-hectare Rowan Property covers 12 km of strike length on the regional east-west trending Pipestone Bay St Paul Deformation Zone.
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TSXV:WRLG - Post by User

Post by 1StockInformeron Nov 01, 2024 8:02pm
109 Views
Post# 36293244

Madsen Mine Update: Drilling, Upcoming PFS & MorešŸ’„ā›ļø

Madsen Mine Update: Drilling, Upcoming PFS & MorešŸ’„ā›ļø

West Red Lake Gold Mines Ltd. (Ticker: WRLG.v or WRLGF for US investors) has shared progress on its readiness activities to restart gold production at its past-producing Madsen Mine in Ontario's Red Lake Mining District.

r/Wallstreetbetsnew - West Red Lake Gold Mines (WRLG.v) Gives Madsen Mine Update: Definition Drilling, Upcoming Pre-Feasibility Study & More Advances Gold Production Restart Goals

With assets in one of the world’s richest gold-producing regions, West Red Lake Gold is positioning the Madsen Mine for a full operational restart, targeted for mid-2025.

Key Updates on Madsen Restart Initiatives:

  • Tailings Dam Lift: Completed on October 8, the tailings dam was raised by four feet, creating over five years of storage capacity at the mine’s 800-tonne-per-day throughput rate. This project was completed under budget and ahead of schedule.

  • Pre-Feasibility Study (PFS): In collaboration with SRK Consulting, the PFS for Madsen’s restart is nearing completion, expected to be published in November. The study builds on recent operational data and detailed engineering to set a strong foundation for the restart.

  • Definition Drilling: Approximately 42,500 meters of drilling have been completed to increase precision in defining mineral resources, aiming to establish high-confidence mining areas. This drilling is expected to support the initial 100,000 ounces of production.

  • Underground Development: Three development crews are progressing underground work, completing over 2,000 meters this year, with a focus on access points for future mining operations.

  • Mill Pre-Commissioning: Key preparations for the mill's restart, set for Q1 2025, are underway, including equipment upgrades and the hiring of all senior mill staff.

  • Test Mining: Initial test mining will begin soon, with the ore stockpiled for batch processing to ensure accurate reconciliation against geologic models.

  • Enhanced Propane Infrastructure: A new propane system with a larger capacity is expected to generate $800,000 in annual savings by centralizing storage and reducing delivery frequency.

With these advancements, West Red Lake Gold continues to progress toward a restart decision at the Madsen Mine, strengthening its operational framework for sustainable production in Ontario’s prolific Red Lake district.

Full update: https://westredlakegold.com/west-red-lake-gold-provides-update-on-madsen-mine-restart-activities/

Posted on behalf of West Red Lake Gold Mines Ltd.

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