West Red Lake Gold Mines drills 27.15 g/t gold over 10.28 metres at Madsen mine, Ontario
West Red Lake Gold Mines Ltd. [TSXV-WRLG; OTCQB-WRLGF] reported drill results from its 100%-owned Madsen mine, located in the prolific Red Lake gold district of Northwestern Ontario, Canada.
This first round of drill results from the Madsen Mine were all drilled from underground on the North Austin Zone, which represents a new area of high-grade mineralization extending the current Madsen resource to the northeast. The WRLG team believes these intercepts are indicative of the exceptional resource growth potential that still exists at the Madsen Mine asset. The North Austin Zone sits adjacent to existing underground development marking it as a high caliber target that could potentially be developed early during future mine restart and production. The North Austin Zone remains open down-dip and along strike to the northeast and will continue to be a priority expansion target as underground drilling continues.
HIGHLIGHTS: Hole MM23X-02-4980-003 intersected 10.28 m of 27.15 g/t Au, from 28.72m to 39.00m, including 1 m of 33.11 g/t Au, from 31.50m to 32.50, also including 1 m of 226.85 g/t Au, from 32.50m to 33.5m.
Hole MM23X-02-4980-001 intersected 8.5 m of 22.31 g/t Au, from 26.95m to 35.45m, including 0.55 m of 186.56 g/t Au, from 26.95m to 27.50m, also Including 1 m of 80.76 g/t Au, from 27.50m to 28.50m.
Hole MM23X-02-4980-004 intersected 7.36 m of 8.98 g/t Au, from 29.74m to 37.10m, Including 1 m of 40.81 g/t Au, from 31.40m to 32.40m.
Shane Williams, President & CEO, stated, “We are very encouraged by this first round of results out from the underground drilling campaign at the Madsen Mine. 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.”
The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. Drilling has been focused on the more continuous and higher-grade portions of the Austin, South Austin, and North Austin Zones. This will continue to be the strategy moving into 2024.
The company completed a total of 11 diamond drill holes for 2,995.5m from surface at the Wedge deposit between September 8 and October 3, 2023. The objective of this drill program was expanding and upgrading the existing mineral resources at Wedge, which currently contain an Indicated mineral resource of 56,100 oz grading 5.6 g/t Au, with an additional Inferred resource of 78,700 oz grading 5.7 g/t Au. The mineralized zones encountered at Wedge confirm the geologic model and help to extend high-grade chutes within the existing Mineral Resource.
HIGHLIGHTS: Hole WDG-23-010 Intersected 3.0 m of 5.50 g/t Au, from 156m to 159m, Including 1.5 m of 10.50 g/t Au, from 157.5m to 159m.
Hole WDG-23-001 Intersected 1.35 m of 10.10 g/t Au, from 189.5m to 190.85m. Hole WDG-23-006 Intersected 1.0 m of 13.63 g/t Au, from 320.55m to 321.55m
The Madsen Mine deposit presently hosts a NI 43-101 Indicated resource of 1.65 million ounces (Moz) of gold grading 7.4 g/t Au and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t Au. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz.
West Red Lake Gold Mines Ltd. is focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. WRLG also holds the wholly owned Rowan property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.