TSXV:WRLG - Post Discussion
Post by
MarketMakerss on Nov 14, 2023 6:13pm
"How Deep Does it Go?"
Having recently drilled the deepest intercepts to date, WRLG's Rowan Gold Project located in the Red Lake Gold District has a high-grade ore chute with a strike length of approximately 250 m and has now been drilled down to a vertical depth of 490 m from surface.
Host to some of the world's richest gold deposits, the Red Lake Gold District has yielded over 30 million ounces of gold (and counting) from high-grade zones.
Notably, these zones can continue to depths exceeding 4km, emphasizing the significance of the potential vertical depth of the Rowan deposit as it has "consistently demonstrated it has what it takes to produce high-grade gold intercepts over significant widths.”
So far, a total of 52 diamond drill holes for 18,990 meters have been completed during the 2023 year at Rowan.
WRLG VP of Exploration, Will Robinson, noted that the November 9, 2023 drill results confirm that WRLG has established depth extent at Rowan down to half a kilometer with "no indication it stops at that depth and that:
“Assay results received from the 2023 drilling program continue to confirm our thesis that quartz veining and gold mineralization continue at depth and along strike, with grades consistent with, or higher than those outlined in the current Inferred Mineral Resource”
Further adding to WRLG's compelling story is its flagship Madsen Gold Mine and the associated 47km squared highly prospective land package which is debt-free and fully permitted with a gold resource of 6.9M tons indicated and 1.8M tons inferred as well as a brand-new 800+ tonne per day mill.
Notably, Frank Giustra sees the Madsen Mine as a highly attractive and first-class acquisition that "couldn't be created today with less than $700M."
With additional assay results pending, WRLG has significant expansion and discovery potential in the near term as it continues to build high-grade resources in one of the richest gold districts in Canada.
Posted on Behalf of West Red Lake Gold Mines Ltd.
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