West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) recently disclosed conclusive findings from the 2023 drill program at its Rowan Property, situated in the prolific Red Lake Gold District of Northwestern Ontario.
In 2023, WRLG conducted an extensive drill program, totaling 62 holes and covering 20,211.4 meters of NQ diamond drill core at the Rowan Mine deposit. Some notable highlights from the year include 70.80 g/t Au over 8.3m and 66.66 g/t Au over 2m.
The exploration also revealed compelling results from the West Zone at Rowan, a historically mined area. The company drilled beneath historic workings, reaching a depth of 80 meters, and identified significant mineralization, exemplified intercepts of 4 meters at 9.5 g/t Au, 2.7m @ 3.66 g/t Au, and 1m @ 12.21 g/t Au, among others.
This area, possibly along the limb of a deposit-scale fold, is expected to be further explored in 2024.
The Rowan Property, a mere 15km from WRLG's flagship Madsen Gold Mine, displays potential synergies between high-grade resources at Rowan and the Madsen mill.
The Rowan material, processed using the Madsen Mill Flowsheet, exhibited high gravity recovery, ranging from 75.8% to 94.9%, and gold extraction exceeding 98%.
These metallurgical results boost confidence in the Rowan Deposit as a potential source of high-grade, easily recoverable gold ounces, contributing significantly to the overall production profile at Madsen.
Shane Williams, President & CEO, emphasized the success of the 2023 campaign, showcasing the deposit's high-grade growth potential and the company's commitment to sustainable exploration and development in the Red Lake region.
Williams also stated that while the focus remains on the restart scenario at the Madsen Mine in 2024, the exploration potential in the district is equally exciting for the company.
In a broader context, with the price of gold reaching USD $2,096 in late December 2023 and governments positioning for global fiat currency weakening, gold remains a strategic investment. Central banks, including the People's Bank of China, continue to bolster their gold reserves.
WRLG's commitment to growth is evident, as indicated by the upsized private placement of units to CND $13 million in November 2023. CEO Shane Williams' track record in mine development adds confidence to WRLG's endeavors, positioning the company favorably in the competitive gold market.
Full news here: https://newsdirect.com/news/west-red-lake-gold-wrlg-v-completes-2023-drill-program-at-the-rowan-property-879833570
Posted on behalf of West Red Lake Gold Mines Ltd.