West Red Lake Gold Mines (TSX.V: WRLG)
Reported drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.
This 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.
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| West Red Lake Gold Mines | TSX.V : WRLG |
| Stage | Exploration / Development |
| Metals | Gold |
| Market cap | C$145 m @ 68 cents |
| Location | Ontario, Canada |
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West Red Lake Gold Intersects 9.15 g/t Au over 3.3m and 10.66 g/t Au over 2.6m at North Austin Zone – Madsen Mine
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West Red Lake Gold Mines Ltd. (TSX.V: WRLG) (“West Red Lake Gold” or “WRLG” or the “Company”) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.
This round of drill results from the Madsen Mine were all drilled from underground on the North Austin Zone, which represents anew area of high-grade mineralization extending the current Madsen resource to the northeast.
This program was designed for expanding the North Austin zone to follow-up on the initial results previously announced in November, 2023 (see press release dated November 21st).
Notably, hole MM24X-03-5195-006 intercepted 8.12 g/t Au over 2m, suggesting vertical continuity of almost two full mine levels, or approximately 50m, below any workings at the East Portal.
Additionally, holes MM24X-03-5195-001, -003 and -004 all intercepted high-grade mineralization beneath current workings effectively extending a known ore shoot approximately 25m down plunge.
The WRLG team believes these intercepts are indicative of the 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.
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HIGHLIGHTS:
- Hole MM24X-03-5195-003 Intersected 3.3m @ 9.15 g/t Au, from 148.7m to 152m, Including 1m @ 15.91 g/t Au, from 148.7m to 149.7m, also Including 0.7m @ 18.62 g/t Au, from 150.7m to 151.4m.
- Hole MM24X-03-5195-001 Intersected 2.6m @ 10.66 g/t Au, from 154.4m to 157m, Including 0.9m @ 18.35 g/t Au, from 155.4m to 156.3m.
- Hole MM24X-03-5195-006 Intersected 2.4m @ 8.12 g/t Au, from 85.3m to 87.7m.
- Hole MM24X-03-5195-004 Intersected 1.4m @ 10.55 g/t Au, from 141m to 142.4m.
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Shane Williams, President & CEO, stated,
“This latest round of North Austin results are very encouraging and demonstrate the untapped growth potential that still exists in this part of the Madsen deposit.
“As we continue to advance the East Portal decline, we will be establishing additional drilling platforms to continue extending this zone at depth.”
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Since underground drilling resumed in early January 2024 the Company has completed 1,651m of Expansion drilling and 689m of Definition drilling. In total, 23 diamond drill holes for 2,340m have been completed so far in 2024 at the Madsen Mine.
Fire and metallic screen assays have been returned for 20 out of 23 holes completed, with 2 holes pending assays and QAQC.
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in West Red Lake Gold Mines.
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