West Red Lake Gold Mines (TSX.V: WRLG)
Provided an update on ramp-up activities at the Madsen Mine in Red Lake, Ontario.
Three gold pours took place over the month to produce 3,800 ounces of gold. Of that, 3,595 ounces were sold at an average price of US$3,320 per oz. to generate US$12 million.
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Madsen Mill – Courtesy of West Red Lake Gold Mines
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| West Red Lake Gold | TSX.V : WRLG | |
| Stage | Production | |
| Metals | Gold | |
| Market cap | C$284m @ 82 cents | |
| Location | Ontario, Canada | |
| Website | www.westredlakegold.com |
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West Red Lake Gold Provides Madsen Mine Operations Update
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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSX.V: WRLG)(OTCQB: WRLGF) is pleased to provide an update on ramp-up activities at the Madsen Mine in Red Lake, Ontario.
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Shane Williams, President and CEO said;
“July was a good month for Madsen and our mine operations team, and we continue to track to plan on our ramp up.
“Mine ramp-up is about adding equipment, developing access to high-priority mining areas, and increasing operational efficiency until the mine consistently produces the targeted daily tonnage at the targeted grade.
“During July, all these ramp-up elements played a positive role at Madsen. The mill achieved an average of 94% recovery over the month while processing 500-800 tonnes per day.
“Additionally, material mined from sill access development carried gold grades well above expectation on several occasions. Collectively, this enabled Madsen to pour 3,800 ounces for the month of July.”
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July Production
In July the Madsen mine operations team completed sill development and mining in eight (8) areas spread across McVeigh, South Austin, and Austin. Sill development was a priority in the month, to enable a focus on stope mining in August.
Mill feed in July was therefore a mix of mined material and low-grade stockpiles. Mined material carried an average grade of 8.9 grams per tonne gold.
Since sill mining is less efficient than stope mining in terms of producing tonnage, mined tonnage was combined with low grade stockpile to produce an average grade of around 5g/t going into the mill.
Three (3) gold pours took place over the month to produce 3,800 ounces of gold. Of that, 3,595 ounces were sold at an average price of US$3,320 per oz. to generate US$12 million ($C16.4M) in revenues.
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To read the full news release please click HERE
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The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in West Red Lake Gold Mines.
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