As reported in the article below, gold markets have experienced a significant rally, breaking through the $2050 level and indicating strong bullish momentum. The author emphasizes a positive outlook for gold, citing declining interest rates in the United States. Despite potential market noise during the holiday season, the article anticipates movement and believes it's only a matter of time before reaching the $2075 level.
https://www.fxempire.com/forecasts/article/gold-price-forecast-gold-markets-continue-to-break-out-3-1397857
Looking at the world of junior mining, West Red Lake Gold Mines Ltd. (Ticker: WRLG.v or WRLGF) has recently disclosed favorable drill results from its Madsen Mine in the esteemed Red Lake Gold District of Northwestern Ontario.
The drilling concentrated on the high-grade South Austin Zone, currently hosting an Indicated Mineral Resource of 474,600 ounces at a grade of 8.7 grams per tonne Au and an Inferred resource of 31,800 oz at 8.7 g/t Au.
The recent drill outcomes underscore the high-grade characteristics and continuity of the South Austin Zone, underscoring significant growth potential.
The South Austin Zone remains a focal point for expansion, particularly in the unmined portion down-plunge, adjacent to existing underground infrastructure, positioning it as a high-priority target for future development.
Since initiating underground drilling in September 2023, WRLG has completed 1,320m of Exploration drilling and 4,226m of Definition drilling.
The ongoing focus is on further defining near-term mining inventory and expanding the current mineral resource. In the upcoming drilling program, priority will be given to the more continuous and higher-grade sections of the Austin, South Austin, and North Austin Zones.
Full Press Release: https://westredlakegold.com/west-red-lake-gold-intersects-47-44-g-t-au-over-3-2m-21-64-g-t-au-over-7m-and-296-83-g-t-au-over-1m-at-south-austin-zone-madsen-mine/
Posted on behalf of West Red Lake Gold Mines Ltd.