West Red Lake Gold Mines (TSXV: WRLG; OTCQB: WRLGF) says it continues to drill exceptional grades at its 100%-owned Madsen gold mine near Red Lake, Ont. The latest assays come from the South Austin zone and reached a peak of more than 145 g/t.
Here are some details:
- Hole MM24D-07-4198-001: intersected 1.1 metre at 68.36 g/t gold, including 0.5 metre at 145.55 g/t gold.
- Hole MM24D-07-4198-002: 4.0 metres at 18.83 g/t gold, including 0.5 metre at 105.72.
- Hole MM24D-07-4198-003: 0.5 metre at 28.72 g/t gold.
- Hole MM24D-07-4198-004: 2 metres at 7.89 g/t gold, including 0.5 metre at 28.72 g/t gold.
The underground Madsen gold mine is a past producer, and it was last active in 2013. Resources calculated in 2023 include 6.9 million indicated tonnes grading 7.4 g/t gold, containing almost 1.7 million oz. The inferred portion is 1.8 million tonnes at 6.3 g/t gold, containing 366,200 oz.
The mine has two portals and two ramps that reach 525 metres below surface. The project has a new, expandable 800 t/d mill, and potential to further extend resources. The project is fully permitted. West Red Lake believes that it could restart production in only 18 months after a positive decision was made.
Former owner PureGold is estimated to have spent $350 million at the Madsen mine.
Additional information is posted on www.WestRedLakeGold.com.
