TSXV:WRLG - Post Discussion
Post by
MarketMakerss on Nov 27, 2023 6:48pm
Goldman Sashs raises 12-month gold price target to $2,050
Having recently drilled high-grade gold at both of its Red Lake District Gold Projects, West Red Lake Gold Mines (WRLG.v WRLGF) is one junior gold company with significant potential with a combined gold resource of 6.9M tons indicated and 4.6M tons inferred at two high-grade projects
Deemed a 'first-class acquisition that "couldn't be created today with less than $700M" from billionaire mining investor Frank Giustra, WRLG's flagship, the Madsen Gold Mine, is debt-free and fully permitted with a brand-new 800+ tonne per day mill.
Following six months of high-grade assays from the Rowan Gold Project, the Madsen results represent a new area of high-grade mineralization extending the current Madsen resource to the northeast
The latest drill results intersected27.15g/t Au over 10.28m and 22.31 g/t Au over 8.5m and expanded the resource north east.
Sitting adjacent to the existing underground development, the zone is a high caliber target that could potentially be developed early during future mine restart and production as it remains open down-dip and along strike to the northeast and will continue to be a priority expansion target as underground drilling continues.
This news follows WRLG's previous significant step forward in de-risking its high-grade resource following additional positive metallurgical test results from its Rowan Mine Deposit, deeming the Rowan Deposit to be a future source of high-grade, easily recoverable gold ounces that could potentially add a significant boost to the overall production profile at Madsen.
Posted on Behalf of West Red Lake Gold Mines Ltd.
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