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 North Western Ontario, Canada.
The highlight was hole MM24D-07-4198-001 Intersected 1.1m @ 68.36 g/t Au, from 74.25m to 75.35m, Including 0.5m @ 145.44 g/t Au, from 74.85m to 75.35m.
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| West Red Lake Gold Mines | TSX.V : WRLG |
| Stage | Exploration / Development |
| Metals | Gold |
| Market cap | C$207 m @ 93 cents |
| Location | Ontario, Canada |
West Red Lake Gold Intersects 68.36 g/t Au over 1.1m and 13.83 g/t Au over 3.95m at South Austin Zone – Madsen Mine
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West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)(OTCQB: WRLGF) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of North Western Ontario, Canada.
The drill results featured in this news release were focused on the high-grade South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces (“oz”) grading 8.7 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.
The purpose of this drilling was definition within South Austin to continue building an inventory of high-confidence ounces for eventual restart of the Madsen mill.
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HIGHLIGHTS:
- Hole MM24D-07-4198-001 Intersected 1.1m @ 68.36 g/t Au, from 74.25m to 75.35m, Including 0.5m @ 145.44 g/t Au, from 74.85m to 75.35m
- HoleMM24D-07-4198-002 Intersected 3.95m @ 13.83 g/t Au, from 7.55m to 11.5m, Including 0.5m @ 105.72 g/t Au, from 7.55m to 8.05m.
- The high-grade mineralization encountered near the collar (top of hole) in Holes MM24D-07-4198-002and MM24D-07-4198-006 is believed to be the down-dip continuation of a mineralized zone defined further up in the system. These intercepts are expected to extend this zone in future model updates.
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Shane Williams, President & CEO, stated,
“We are very pleased with the results that have been coming out from the South Austin definition program.
“The team has been intercepting zones of mineralization where expected, which is helping to increase our confidence in the higher priority areas of the resource model and validates our interpretation of the geology.
“Now that we have added a second underground drill at North Austin, we expect to be generating a steady stream of positive news flow from North and South Austin over the coming months.”
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To read the full news release, please click HERE
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The live gold price can be found 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 no shares in West Red Lake Gold Mines
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