West Red Lake Gold Mines Ltd. (WRLG.v or WRLGF for US investors) has outlined significant progress on its Madsen Mine gold production restart plan in Red Lake, Ontario, with key insights shared in a video address by Gwen Preston, VP of Investor Relations.
Watch:
Preston emphasized the project's forthcoming pre-feasibility study (PFS), expected in the next month, which will guide the mine's operational strategy with accurate costing, completed engineering, and a detailed 18-month mine plan.
WRLG's past year of underground operations has provided precise data on actual expenses related to blasting, material haulage, and mucking.
Additionally, the Madsen Mine's existing infrastructure, operational as recently as 2022, has been evaluated and optimized over the past 18 months, leaving minimal engineering uncertainties.
WRLG has already prepared an extensive mine design for the initial 18 months and aims to secure 24 months of mineral inventory before the restart, set for mid-2025.
A significant milestone was the recent completion of the tailings dam lift, enhancing capacity for over five years at the mill’s 800-tonne-per-day rate. This was finished ahead of schedule and under budget by 18%.
WRLG has also done 43,000 meters of definition drilling to boost confidence in and expansion potential of the Madsen Mine's current 1.65 million ounces of gold indicated at 7.4 g/t and 0.37 million ounces inferred at 6.3 g/t resource.
WRLG's restart plan anticipates mill readiness by Q1 2025, positioning the project for a swift and smooth return to production.
More: https://www.thenewswire.com/press-releases?id=1kogFvjp2
Posted on behalf of West Red Lake Gold Mines Ltd.