West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF) recently announced positive drill results from the Austin Zone within its 100% owned Madsen Mine in the Red Lake Gold District, Ontario.
About West Red Lake Gold Mines
WRLG is focused on developing its Madsen Gold Mine, a 47 km² property in the Red Lake district. In addition to Madsen, the company holds the Rowan Property, which includes three past-producing gold mines. The Red Lake district has historically produced over 30 million ounces of gold, making it one of the world’s richest gold-producing regions.
Drill Results Highlights
Recent drilling in the Austin Zone has delivered impressive results, including several high-grade gold intersections:
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Hole MM24D-12-4791-020: 4m @ 54.19 g/t gold (Au), including 1m @ 215.61 g/t Au
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Hole MM24D-12-4791-026: 3.53m @ 23.73 g/t Au, including 1m @ 79.81 g/t Au
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Hole MM24D-12-4791-041: 6m @ 11.65 g/t Au, including 1.05m @ 47.27 g/t Au
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Hole MM24D-12-4791-023: 3m @ 24.49 g/t Au, including 1m @ 71.02 g/t Au
The Austin Zone
The company is focused on defining high-confidence gold ounces in the Austin Zone as part of its plans to restart production at the Madsen Mine in the second half of 2025. The results above demonstrate the high-grade potential of the Austin Zone and continue to build the resource base at Madsen. The Austin Zone currently holds an Indicated resource of 914,200 ounces grading 6.9 g/t Au, with an additional Inferred resource of 104,900 oz grading 6.5 g/t Au.
Madsen Mine Re-Start Plans
WRLG's exploration strategy is to advance the Madsen Mine towards production. The company aims to complete a pre-feasibility study in support of the mine’s restart by 2025. Historical mining practices, influenced by lower gold prices, left behind significant mineralization that WRLG is now targeting. With gold prices exceeding US $2,500/oz, WRLG sees substantial upside potential in unmined sections of the Austin Zone.
Future Outlook
WRLG is advancing its infill drilling programs and exploring deeper portions of the Austin Zone. These efforts are aimed at bolstering confidence in the high-grade resource, contributing to a potential production restart. The company continues to target high-grade, unmined areas left from historical operations, leveraging modern gold prices to maximize resource recovery.
Full news here: https://westredlakegold.com/west-red-lake-gold-intersects-54-19-g-t-au-over-4m-and-23-73-g-t-au-over-3-53m-at-austin-madsen-mine/
Posted on behalf of West Red Lake Gold Mines Ltd.