West Red Lake Gold Mines Ltd. [TSXV-[TSXV-WRLG; OTCQB-WRLGF]reported drill arise from its 100 %-owned Madsen mine situated in the Red Lake gold district of northwestern Ontario, Canada.
The drill results included in this press release were concentrated on the state-of-the-art South Austin Zone, which presently consists of an Indicated mineral resource of 474,600 oz grading 8.7 g/t gold with an extra Inferred resource of 31,800 oz grading 8.7 g/t gold.
The function of this drilling was meaning within South Austin to continue developing a stock of high-confidence ounces for ultimate reboot of the Madsen mill.
Emphasizes: Hole MM24D-07-4198-001 Intersected 1.1 m of 68.36 g/t Au, from 74.25 m to 75.35 m, consisting of 0.5 m of 145.44 g/t Au, from 74.85 m to 75.35 m.
Hole MM24D-07-4198-002 Intersected 3.95 m of 13.83 g/t Au, from 7.55 m to 11.5 m, consisting of 0.5 m of 105.72 g/t Au, from 7.55 m to 8.05 m.
The state-of-the-art mineralization come across near the collar (top of hole) in Holes MM24D-07-4198-002 and MM24D-07-4198-006 is thought to be the down-dip extension of a mineralized zone specified even more up in the system. These intercepts are anticipated to extend this zone in future design updates.
Shane Williams, President & & CEO, specified, “We are extremely delighted with the outcomes that have actually been coming out from the South Austin meaning program. The group has actually been obstructing zones of mineralization where anticipated, which is assisting to increase our self-confidence in the greater concern locations of the resource design and verifies our analysis of the geology. Now that we have actually included a 2nd underground drill at North Austin, we anticipate to be producing a constant stream of favorable news circulation from North and South Austin over the coming months.”
Accessed through the Madsen Mine West Portal, the South Austin Zone sits south in the hanging wall of the primary Austin Zone. Like the other mineralized domains that consist of the Madsen Mine, the South Austin structure is hosted within broad, kilometer-scale planar change and contortion passages that have actually been consistently reactivated throughout gold mineralization and subsequent contortion and metamorphism.
The present underground drilling program at the Madsen Mine is concentrated on additional meaning of near-term mining stock, in addition to development of the existing mineral resource. Drilling has actually been concentrated on the more constant and higher-grade parts of the Austin, South Austin, and North Austin Zones. This will continue to be the technique through 2024.
The Madsen Mine deposit currently hosts a NI 43-101 Indicated resource of 1.65 million ounces 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 approximated at a cut-off grade of 3.38 g/t Au and a gold rate of US1,800/ oz.
West Red Lake Gold Mines Ltd. is a mineral expedition business that is openly traded and concentrated on advancing and establishing its flagship Madsen Gold Mine and the associated 47 km2 potential land bundle in the Red Lake district, Ontario. The extremely efficient Red Lake Gold District of Northwest Ontario, Canada has actually yielded over 30 million ounces of gold from top-quality zones and hosts a few of the world’s wealthiest gold deposits. WRLG likewise holds the completely owned Rowan Property in Red Lake, with an extensive home position covering 31 km2 consisting of 3 previous producing cash cow– Rowan, Mount Jamie, and Red Summit.