TSXV:WRLG - Post Discussion
Post by
MarketMakerss on Jan 17, 2024 6:13pm
Final Rowan Project Results!
West Red Lake Gold Mines (WRLG.v WRLGF) has reported the final drill results from the 2023 drill campaign at its 100% Rowan Property located in the prolific Red Lake Gold District, host to some of the world's richest gold deposits and having yielded over 30M oz of gold (and counting) from high grade zones.
These drill holes were focused on infilling gaps in the geologic model between the East and West Zones, as well as infill and expansion at depth on the West Zone ore shoot.
Notably, a hole was successful in intercepting 4.0m @ 9.5 g/t Au approximately 80m beneath the historic workings, demonstrating the down-plunge potential that still exists in the West Zone.
Shane Williams, President & CEO, stated,
"The work completed at Rowan during 2023 was catalyst rich, and not only demonstrated the high-grade growth potential of the deposit, but also our commitment to sustainable exploration and development in Red Lake. Working towards a restart scenario at the Madsen Mine will remain the primary focus for our team in 2024, but we are also very excited about the exploration potential we see in the district and look forward to updating our shareholders on continued exploration successes and Company milestones throughout the year."
With the final results, WRLG made a range of exploration achievements at the Rowan Property in 2023, including:
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Acquiring the remaining interest in the property and bringing ownership to 100%
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Drilling a total of 62 holes for 20,211.4m of NQ diamond drill core at the Rowan Mine deposit with up to 70.80 g/t Au over 8.3m, 50.52 g/t Au over 4.0m and 66.66 g/t Au over 2.0m
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Positive metallurgical tests results indicating overall gold extraction above 98% and requiring only minor changes to the existing flowsheet at the Madsen Mill
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Defined high-grade East Zone ore shoot at Rowan down to 490m depth which still remains open for expansion below this level
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Drilled two additional holes for 780m of NQ diamond drill core at the Red Summit NE target which confirmed geologic thesis and warrant additional drilling in this area.
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Conducted baseline orientation soil sampling survey
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Completed reprocessing of two airborne magnetic geophysical data sets & conducted property-wide LiDAR survey
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Initiated baseline environmental and archaeological assessments to begin advancing the deposit towards an Advanced Exploration Permit
Further attesting to its strength as a junior gold company, WRLG's second asset is the Madsen Gold Mine, an asset previously valued at one billion dollars which was a "first class acquisition" for "pennies on the dollar".
Poised for a rapid development timeline with infill and expansion drilling, underground development, engineering studies a PEA and a PFS, WRLG is focused on two main objectives heading into 2024, technical de-risking and building metal inventory through aggressive exploration, before restarting production.
Boasting a combined gold resource of 6.9M tonnes indicated at a grade of 7.4 g/t and 2.8M tonnes inferred at 9.2 g/t from Madsen and Rowan, WRLG is on track to become a strong player in the industry.
Posted on Behalf of West Red Lake Gold Mines Ltd.
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