West Red Lake Gold Mines Ltd (QB) (WRLGF) Quote

West Red Lake Gold Announces Positive Pre-Feasibility Study Results for Madsen Gold Mine
https://westredlakegold.com/west-red-lake-gold-announces-positive-pre-feasibility-study-results-for-madsen-gold-mine-with-315m-after-tax-npv-and-70m-average-annual-free-cash-flow/

Latest Presentation: https://westredlakegold.com/wp-content/uploads/2024/11/2024.11.15-final-main.pdf

This project was rushed and mishandled by the previous owners. I have followed the Madsen project for quite a while, and believe the potential has barely been touched at this point, but that is only my opinion. I also like the fact that the rowan property is near by. I am anxious to see how this shapes up.

https://westredlakegold.com/news/
December 10, 2024
West Red Lake Gold Envisions High-Grade Underground Satellite at Fork Deposit – Madsen Property
West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to provide an update on the Company’s interpretation and vision for the Fork Deposit (“Fork”) at its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada.

The Fork deposit currently contains an Indicated mineral resource of 20,900 ounces (“oz”) grading 5.3 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 49,500 oz grading 5.2 g/t Au.

WRLG has recently completed a re-evaluation of the Fork deposit and has recognized a shallow, high-grade, low-plunging zone of gold mineralization that is located approximately 250 meters (“m”) southwest from existing underground development at Madsen.

The zone trends north-south and has been defined by previous drilling over an area of 400m by 250m and shows potential for further expansion along strike to the south. Average thickness of the zone is conservatively estimated at approximately 2m based on existing core length intercepts.

The shallow nature of this target will allow for systematic and efficient infill and expansion drilling from surface with holes averaging 150-250m depth. Fork will be a priority drill target for WRLG in 2025.

FORK DRILLING HIGHLIGHTS (HISTORIC):

Hole RUM-08-49 Intersected 13.05m @ 13.97 g/t Au, from 107.65m to 120.7m, Including 3.63m @ 30.79 g/t Au, from 110.37m to 114.00m, Also including 1.97m @ 32.55 g/t Au, from 118.73m to 120.70m.
Hole PDM04-318 Intersected 9.3m @ 8.14 g/t Au, from 128.1m to 137.4m, Including 0.7m @ 85.70 g/t Au, from 128.1m to 128.8m, Also including 0.6m @ 21.3 g/t Au, from 136.8m to 137.4m.
Hole RUM-08-68 Intersected 1.3m @ 50.48 g/t Au, from 95.7m to 97.0m, Including 0.2m @ 169.09 g/t Au, from 95.8m to 96.0m, Also including 0.4m @ 53.27 g/t Au, from 96.2m to 96.6m.
Hole PG14-011 Intersected 3.5m @ 17.18 g/t Au, from 152.5m to 156.0m, Including 1.6m @ 33.80 g/t Au, from 154.4m to 156.0m.
Shane Williams, President and CEO, stated, “What was once considered a somewhat broad, intermediate-grade portion of the satellite resource inventory at Madsen, Fork has now been re-envisioned as a high-grade near-mine resource expansion target that will be a top priority for the exploration team in 2025. The shallow nature of this target will allow for rapid advancement through surface definition drilling and, with its proximity to existing underground development, it’s not difficult to see a path forward for Fork making its way into the production pipeline at Madsen. This strategy is directly in-line with WRLG’s hub-and-spoke model for Madsen as we continue to evaluate and advance additional high-grade gold opportunities within the Red Lake district.