West Red Lake Gold Mines (Ticker: WRLG.V or WRLGF for US investors) has struck gold – quite literally, with their recent drill results from the South Austin Zone including 5.5 meters at 25.12 grams per tonne of gold.
Will Robinson, VP of Exploration, couldn't hide his enthusiasm as he spoke with Guy Bennett, CEO of Global Stocks News. "We hit some high-grade intercepts, with visible gold showings, When the team saw that, we added additional holes to that station to flush those areas out, up dip and down."
The strategy seems to be paying off. The Madsen Gold Mine, WRLG's flagship asset, boasts an NI 43-101 Indicated resource of 1.65 million ounces of gold grading 7.4 g/t gold. But it's not just about the numbers; it's about the confidence in those numbers. With every drill, every gold intercept extracted, that confidence grows stronger.
Shane Williams, President & CEO of WRLG, emphasized the progress made in de-risking the Madsen deposit. "The excellent results highlighted in this release are indicative of the upside that still exists at Madsen even within the current life-of-mine resource inventory," he remarked in a recent press release.
But it's not just about what's underground; it's also about what's happening above ground. The economic landscape is shifting, with gold prices soaring to all-time highs. With growing concerns about the U.S. national debt, investors are turning to tangible assets like gold as a hedge against inflation and economic uncertainty.
Frank Giustra, a powerhouse investor and prominent shareholder in WRLG, raised a poignant question: "Who thinks this is sustainable?" With the U.S. national debt rising by $1 trillion every 100 days, the need for alternative investments becomes increasingly apparent.
In this context, gold emerges as a beacon of stability. Central banks worldwide are bolstering their gold reserves, signaling a broader trend of "de-dollarization." As China continues its gold-buying spree, the demand for this precious metal remains robust.
Jill Christmann, Chief Geologist at WRLG, emphasized the focus on drilling programs to test gold values in various zones at Madsen. The recent successes in the North and South Austin Zones underscore the untapped potential lying beneath the surface.
As WRLG continues to navigate the complexities of mine operations, one thing remains clear: the allure of gold transcends economic cycles. With each drill, each discovery, the dream of unlocking untold riches inches closer to reality.
More here:https://www.marketscreener.com/quote/stock/WEST-RED-LAKE-GOLD-MINES-49477187/news/West-Red-Lake-Gold-WRLG-V-hits-5-5-Meters-25-12-g-t-as-U-S-Federal-Debt-Goes-up-1-Trillion-Eve-46150793/
Posted on behalf of West Red Lake Gold Mines Ltd.