At the Vancouver Resource Investment Conference (VRIC) 2024, Shane Williams, President & CEO of West Red Lake Gold Mines (Ticker: WRLG.v or WRLGF for US investors), provided insights into the company's recent advancements during a live interview with Mark Bunting of RCTV.
Williams highlighted the company's notable achievements, including progress on the Madson and Rowan projects situated in Red Lake, Ontario.
With the financial backing and guidance of billionaire mining mogul Frank Giustra, the company has secured a promising asset and assembled a skilled team, setting the stage for significant growth.
WRLG's flagship, The Madsen Gold Project is a fully permitted gold mine nestled within Canada's esteemed Red Lake high-grade gold district, epitomizes deep value opportunity with over C$350 million invested to date.
Boasting robust technical foundations and a recent updated Mineral Resource Estimate announced in June 2023, Madsen flaunts 1.65 million ounces of gold within 6.9 million tonnes in the indicated category and 0.37 million ounces of gold within 1.8 million tonnes in the inferred category, reflecting grades of 7.4 g/t and 6.3 g/t respectively.
Williams outlined the company's strategic focus for the coming year, indicating plans for extensive drilling at the Madson project to pave the way for potential production by 2025.
Emphasizing the importance of underground development, Williams explained the necessity of exploring deeper, higher-grade systems to maximize the projects' potential.
Additionally, attention is directed towards the Rowan project, with upcoming drilling initiatives and a preliminary economic assessment slated for completion in Q2, alongside a resource estimate by year-end.
WRLG's Rowan Project already has a resource estimate of 827,462 inferred ounces graded at 9.2 gpt, extending close to the surface and remaining open to depth. Spanning 3,100 hectares and encompassing three former gold mines—Rowan, Mount Jamie, and Red Summit—the project boasts a rich geological landscape characterized by gold-bearing structures intersecting near the former producing Rowan Mine.
Overall, the interview underscored West Red Lake's unique position within the Red Lake Gold Mining Region, boasting strong financial support, seasoned leadership, and a dedicated team poised for expansion.
Williams reiterated the company's vision to leverage its assets and expertise to become a leading player in the gold mining sector.
Full interview:
Posted on behalf of West Red Lake Gold Mines Ltd.