West Red Lake Hits 27.15 g/t Gold Over 10 Metres At Madsen

FULL DISCLOSURE: This is sponsored content for West Red Lake Gold.

West Red Lake Gold Mines (TSXV: WRLG) has results in hand from its first round of drilling conducted at its recently acquired Madsen Mine in the Red Lake region of Ontario.

Results released this morning consisted of 18 holes that were drilled from underground, focused on the North Austin Zone. The zone extends mineralization to the northeast from the current resource, and sits adjacent to existing underground development. West Red Lake suggested it represents a “high caliber” target that could be developed early in a potential mine restart.

Highlights from the results include:

  • MM23X-02-4980-001: 8.5 metres of 22.31 g/t gold from 26.95 metres
  • MM23X-02-4980-003: 10.28 metres of 27.15 g/t gold from 28.72 metres
  • MM23X-02-4980-004: 7.36 metres of 8.98 g/t gold from 29.74 metres
  • MM23X-02-4980-011: 0.91 metres of 8.82 g/t gold from 52.09 metres
  • MM23X-02-4980-012: 0.82 metres of 7.08 g/t gold from 12.68 metres

Collectively, West Red Lake has drilled 848 metres in aggregate in underground exploration drilling, and 3,369 metres of definition drilling. A total of 70 holes have been conducted to date at the property. Current exploration at Madsen is focused on definition of near-term mining inventory and the growth of the current mineral resource, and will continue to be the strategy in 2024.

“Our geologic team quickly recognized the exploration potential in the North Austin area, which represents a high-grade expansion target that sits very close to existing underground infrastructure. While a good portion of the underground drill meters will continue to be focused on definition and increasing confidence in the current resource, we will continue to take advantage of near-mine organic growth opportunities that could materially enhance and increase the mineral resource inventory at Madsen,” commented CEO Shane Williams on the results.

READ: West Red Lake Gold Intersects 33.47 g/t Gold Over 1.35 Metres At Rowan

Meanwhile at the Wedge deposit, 11 drill holes have been completed from surface, where exploration was focused on expanding and upgrading the current resource. Highlights from this drill program included:

  • WDG-23-001: 1.35 metres of 10.10 g/t gold from 189.5 metres
  • WDG-23-006: 1.0 metres of 13.63 g/t gold from 320.55 metres
  • WDG-23-010: 3.0 metres of 5.50 g/t gold from 156.00 metres

The Wedge deposit currently has an indicated mineral resource estimate of 56,100 ounces of gold, and an inferred mineral resource of 78,700 ounce of gold.

West Red Lake Gold last traded at $0.49 on the TSX Venture.


FULL DISCLOSURE: West Red Lake Gold Mines is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of West Red Lake Gold Mines. The author has been compensated to cover West Red Lake Gold Mines on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Restarting a Bankrupt Gold Mine: $1.2B Failure to Cash Flow

At The Rule Symposium at The Boca Raton Hotel in Florida, Shane Williams, President &...

Wednesday, July 10, 2024, 06:23:00 AM

West Red Lake Gold Hits 77.87 g/t Gold Over 1.9 Metres At Rowan Mine

West Red Lake Gold Mines (CSE: RLG) yesterday had a midday news release. The news...

Friday, October 15, 2021, 07:33:03 AM

Red Lake District: Home to High-Grade Gold Deposits and Great Bear Resources, a Gold Rush Catalyst

The Red Lake mining district in Northwestern Ontario is best known for its high-grade gold...

Sunday, July 12, 2020, 11:20:54 AM

West Red Lake Gold Mines Is Drilling and Building On Their 1.1M Oz Deposit

West Red Lake Gold Mines (CSE: RLG) is a junior explorer, located in the prolific...

Thursday, June 4, 2020, 09:09:03 AM

West Red Lake Gold Plans To Drill Test 17,000 Metres In 2023

West Red Lake Gold (TSXV: WRLG) is starting off the 2023 exploration season with a...

Monday, March 13, 2023, 09:57:34 AM