Deep Dive on New Ore Shoot From Guy Bennett Following the definition of a new ore shoot at West Red Lake Gold's (WRLG.v WRLGF) Upper 8 Target, Guy Bennett from Global Stocks News did a deep dive into the significance of these results, noting the similarities to its high-grade 8 zone: https://www.theglobeandmail.com/investing/markets/markets-news/TheNewswire.com/29771387/structural-repetition-west-red-lake-golds-new-ore-shoot-is-similar-to-the-high-grade-8-zone/
Upper 8 Target Discovery
- New high-grade ore shoot defined at the Upper 8 Target with promising drill results, following earlier intercepts of 44.17 g/t Au over 1.3m and 20.63 g/t Au over 0.5m.
- Shoot measures 30m wide and 130m along plunge, hosted in the Russet Lake Ultramafic unit, 750m up-plunge from the 8 Zone deposit.
- Geologically similar to the deeper 8 Zone, which contains an Indicated resource of 87,700 oz @ 18 g/t Au and an Inferred resource of 18,200 oz @ 14.6 g/t Au.
- Exploration focus includes testing for additional high-grade zones between Upper 8 and the 8 Zone.
Notably, WRLG is advancing plans for the restart of the Madsen Mine, with a Pre-Feasibility Study (PFS) nearing completion and targeted for early 2025.
- Focus on optimizing underground development, infrastructure sequencing, and cost refinement.
- Restart targeted for mid-2025 with detailed mine plans for the first 18 months of operations.
- Current NI 43-101 resources: 1.65 Moz Indicated @ 7.4 g/t Au and 0.37 Moz Inferred @ 6.3 g/t Au.
- Mine infrastructure largely complete, with operational learnings from its 2022 activity integrated into current plans.
Looking ahead, WRLG remains focused on identifying near-surface high-grade discoveries and leveraging conceptual geological models to guide exploration. Encouraging results from the Upper 8 Target reinforce confidence in the potential for broader discoveries across the Madsen property, positioning the company for significant growth in the Red Lake Gold District.
For more information, refer to this deep dive on WRLG's latest results: https://www.reddit.com/r/wallstreetsmallcaps/comments/1gwvm36/west_red_lake_gold_mines_wrlgv_wrlgf_progresses/
Posted on Behalf of West Red Lake Gold Mines Ltd.