Latest news with #MadsenMine
Globe and Mail
3 days ago
- Business
- Globe and Mail
West Red Lake Gold Highlights Bulk Sample Learnings
VANCOUVER, British Columbia, June 03, 2025 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. ('West Red Lake Gold' or 'WRLG' or the 'Company') (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report how learnings from the test mining and bulk sample program at its 100% owned Madsen Mine (the 'Project') in the Red Lake Gold District of Northwestern Ontario, Canada, are translating directly into a detailed mine plan with generally larger stopes, greater mining efficiencies, and lower cost mining methods than anticipated. The test mining and bulk sample program had two goals: To confirm that the geologic, engineering, and mining workflow at Madsen enables the Company to model and mine mineralization accurately. To test various mining scenarios and use the results to enable confident mine design that maximizes economic extraction. The bulk sample results (reported on May 7) achieved the first goal. Close reconciliation between expected and actual tonnes, grade, and contained ounces across six stopes in three areas of the resource validates the Company's ability to mine at Madsen according to plan. The Company also succeeded with the second goal. Test mining demonstrated the ability to mine up against historic stopes, which reduced barriers in stope design and unlocked some resource potential. Test mining also highlighted the efficiency of mining larger stopes and mining clusters of proximal stopes (known as mining complexes), two notable opportunities that are developing at Madsen because mine design is both a technical and economic exercise. The workflow that leads to detailed mine design at Madsen is as follows: Each resource area is definition-drilled to a drill hole spacing averaging 7 meters. The in-house, short-term model is updated to incorporate the new drill data. Stopes are engineered based on the updated model to maximize economic extraction of mineralization, at an assumed gold price. Gold mineralization at Madsen often comprises high-grade lenses surrounded by lower-grade mineralized halos. The above workflow is designed in part to define high-grade lenses of gold mineralization that can go unnoticed with wider-spaced data sets. Recent high-grade drill results from the South Austin area (see news releases from May 27, May 13, and February 26) demonstrate this potential. Definition drilling also enables accurate modeling of lower-grade halo mineralization ahead of stope design. West Red Lake Gold is currently using the consensus long-term price of US$2,350 per ounce ('oz.') in mine design, compared to a gold price of US$1,680 per oz. used for the mine plan in the Madsen Mine Pre-Feasibility Study ('PFS') [1]. The relatively low gold price in the PFS led to a mine plan with 60% of the mining being small, high-grade stopes requiring the use of cut-and-fill mining, the more selective and higher cost of the two mining methods outlined for use at Madsen [1a]. In addition, the need to drive accesses between multiple small stopes contributed to relatively high sustaining capital needs over the mine life. The PFS mine plan generated strong economics that supported the restart decision. However, using a higher gold price in stope design effectively lowers the cutoff grade for resource inclusion, bringing additional resource tonnes and more overall ounces into consideration for mine planning. When lower grade tonnes prove to be economic, it can result in larger stopes encompassing one or several high-grade gold lenses with surrounding halo mineralization. It can also define new mining shapes around proximal areas of mineralization that were not previously considered. This is especially possible where definition drilling has defined or expanded high-grade lenses, which have the potential to mitigate the impact on head grade of including lower grade tonnes over the life of mine. Figure 1: Visible gold in sill access development on 1 Level McVeigh. Larger stopes and clusters of proximal stopes, known as mining complexes, have potential to increase a mine's economic benefit and scale as compared to smaller, isolated stopes because they can positively impact three key economic drivers: Mining cost: Larger stopes can generally be mined via long hole stoping. Long hole stoping is significantly lower cost per tonne compared to cut and fill mining [1b]. The Madsen Mine bulk sample was mined exclusively by long hole stoping methods with a very high success rate and the majority of the 18-month detailed mine plan is long hole mining. Cost of access development per tonne mined: Larger stopes and stopes clustered in mining complexes spread the cost of developing access to a mining area over more ounces produced from that area, reducing the cost impact of access development. Flexibility and efficiency: The ability for a mine to focus on few large mining complexes at any given time rather than multiple isolated stopes greatly supports efficiency in equipment, personnel, and material movement planning. The Company is experiencing this efficiency advantage already at site. Figures 2 through 4 below highlight a few examples of mining complexes where the tonnage and ounce profile increased through the definition drilling, resource model updating, and economic stope design workflow. Figure 2. Image showing South Austin 4447 stope complex (blue). This area realized a 212% increase in tonnage and 320% increase in contained ounces mainly driven by definition drilling. Figure 3. Image showing Austin 1099/1100 stope complex (blue). This area realized a 204% increase in tonnage and 222% increase in contained ounces mainly driven by definition drilling. Figure 4. Image showing McVeigh 1453 stope complex (blue). This area realized a 32% increase in tonnage and 18% increase in contained ounces mainly driven by definition drilling. A more global potential benefit from mining larger stopes at Madsen is mining more of the resource. A mine plan based on a gold price of US$1,680 per oz. depletes the deposit relatively quickly, which is evident in a PFS probable reserve of only 478,000 ounces in 1.87 million tonnes grading 8.2 g/t gold mined in 7 years [1c], from a deposit with a total indicated resource of 1.65 million ounces of gold hosted in 6.9 million tonnes of rock averaging 7.4 g/t gold (the combined indicated resource for the Austin, South Austin, McVeigh, and 8 Zones) [1d]. The Madsen Mine PFS described the potential for more of the resource to be considered for mining if a higher gold price was used [1e]. A gold price environment that allows mine design to convert more of the resource into reserve suggests a longer mine life than outlined in the PFS, which is expected to have a positive impact on long-term profitability and overall project economics. Close reconciliation between expected and actual tonnes and grade in the bulk sample suggests that the Company's approach – appropriate definition drilling, responsive mine engineering, and disciplined, efficient mining – is creating the ability to mine at Madsen according to plan. The mine engineering and design process is a technical and economic exercise that responds to the price of gold. This will remain the Company's practice at the Madsen Mine. Other News The Company has received and accepted the resignation of Jasvir Kaloti as Corporate Secretary. The management and board of directors of the Company wish to thank Ms. Kaloti for her service and wish her well in the future. Efforts are in progress to identify a suitable Corporate Secretary candidate and Harpreet Dhaliwal, Chief Financial Officer, will hold this position in the interim. Footnotes Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company's website and on SEDAR+ at See PFS Section 16.5.3 Mining Methods – Underground Mining Methods – Planned Mining Methods. See PFS Report Section 21.3.2 Capital and Operating Costs – Operating Cost Estimates – Mining. Mineral reserve estimates based on a gold price of US$1,680/oz and an exchange rate of 1.31 C$/US$. Longhole stope cut-off grade of 4.30 gpt Au based on an estimated operating cost of C$287.34/t including mining, plant and G&A. Mechanized Cut and Fill stope cut-off grade of 5.28 gpt Au based on an estimated operating cost of C$354.90/t including mining, plant and G&A. Incremental development cut-off grade of 1 gpt Au. A small amount of incremental longhole tonnes were included at a cut-off grade of not less than 3.4 gpt Au, these must be immediately adjacent to economic stopes that will pay for the capital to access area. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources are not considered mineral reserves as they have not demonstrated economic viability. See Section 24.1 Other Relevant Data – Gold Price Sensitivity. The technical information presented in this news release has been reviewed and approved by Will Robinson, Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, and by Maurice Mostert, Vice President of Technical Services for West Red Lake Gold and the Qualified Person for technical services at the West Red Lake Project, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. ABOUT WEST RED LAKE GOLD MINES West Red Lake Gold Mines Ltd. is a mineral development company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km 2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km 2 including three past producing gold mines - Rowan, Mount Jamie, and Red Summit. ON BEHALF OF WEST RED LAKE GOLD MINES LTD. 'Shane Williams' Shane Williams President & Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT: Gwen Preston Vice President Communications Tel: (604) 609-6132 Email: investors@ or visit the Company's website at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION Certain statements contained in this news release may constitute 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as 'anticipate', 'expect', 'estimate', 'forecast', 'planned', and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the larger stopes, greater mining efficiencies, lower cost mining methods, potential production of mining operations at the Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; the impact and ability for long-term profitability and overall project economics; and the Company's future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, the Company's ability to mine at Madsen according to the current mine plan; ability to forecast mining cost; market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices; and changes in the Company's business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company's management's discussion and analysis for the year ended December 31, 2024, and the Company's annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. For more information on the Company, investors should review the Company's continuous disclosure filings that are available on SEDAR+ at Photos accompanying this announcement are available at
Yahoo
3 days ago
- Business
- Yahoo
West Red Lake Gold Highlights Bulk Sample Learnings
VANCOUVER, British Columbia, June 03, 2025 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. ('West Red Lake Gold' or 'WRLG' or the 'Company') (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report how learnings from the test mining and bulk sample program at its 100% owned Madsen Mine (the 'Project') in the Red Lake Gold District of Northwestern Ontario, Canada, are translating directly into a detailed mine plan with generally larger stopes, greater mining efficiencies, and lower cost mining methods than anticipated. The test mining and bulk sample program had two goals: To confirm that the geologic, engineering, and mining workflow at Madsen enables the Company to model and mine mineralization accurately. To test various mining scenarios and use the results to enable confident mine design that maximizes economic extraction. The bulk sample results (reported on May 7) achieved the first goal. Close reconciliation between expected and actual tonnes, grade, and contained ounces across six stopes in three areas of the resource validates the Company's ability to mine at Madsen according to plan. The Company also succeeded with the second goal. Test mining demonstrated the ability to mine up against historic stopes, which reduced barriers in stope design and unlocked some resource potential. Test mining also highlighted the efficiency of mining larger stopes and mining clusters of proximal stopes (known as mining complexes), two notable opportunities that are developing at Madsen because mine design is both a technical and economic exercise. The workflow that leads to detailed mine design at Madsen is as follows: Each resource area is definition-drilled to a drill hole spacing averaging 7 meters. The in-house, short-term model is updated to incorporate the new drill data. Stopes are engineered based on the updated model to maximize economic extraction of mineralization, at an assumed gold price. Gold mineralization at Madsen often comprises high-grade lenses surrounded by lower-grade mineralized halos. The above workflow is designed in part to define high-grade lenses of gold mineralization that can go unnoticed with wider-spaced data sets. Recent high-grade drill results from the South Austin area (see news releases from May 27, May 13, and February 26) demonstrate this potential. Definition drilling also enables accurate modeling of lower-grade halo mineralization ahead of stope design. West Red Lake Gold is currently using the consensus long-term price of US$2,350 per ounce ('oz.') in mine design, compared to a gold price of US$1,680 per oz. used for the mine plan in the Madsen Mine Pre-Feasibility Study ('PFS') [1]. The relatively low gold price in the PFS led to a mine plan with 60% of the mining being small, high-grade stopes requiring the use of cut-and-fill mining, the more selective and higher cost of the two mining methods outlined for use at Madsen [1a]. In addition, the need to drive accesses between multiple small stopes contributed to relatively high sustaining capital needs over the mine life. The PFS mine plan generated strong economics that supported the restart decision. However, using a higher gold price in stope design effectively lowers the cutoff grade for resource inclusion, bringing additional resource tonnes and more overall ounces into consideration for mine planning. When lower grade tonnes prove to be economic, it can result in larger stopes encompassing one or several high-grade gold lenses with surrounding halo mineralization. It can also define new mining shapes around proximal areas of mineralization that were not previously considered. This is especially possible where definition drilling has defined or expanded high-grade lenses, which have the potential to mitigate the impact on head grade of including lower grade tonnes over the life of 1: Visible gold in sill access development on 1 Level McVeigh. Larger stopes and clusters of proximal stopes, known as mining complexes, have potential to increase a mine's economic benefit and scale as compared to smaller, isolated stopes because they can positively impact three key economic drivers: Mining cost: Larger stopes can generally be mined via long hole stoping. Long hole stoping is significantly lower cost per tonne compared to cut and fill mining [1b]. The Madsen Mine bulk sample was mined exclusively by long hole stoping methods with a very high success rate and the majority of the 18-month detailed mine plan is long hole mining. Cost of access development per tonne mined: Larger stopes and stopes clustered in mining complexes spread the cost of developing access to a mining area over more ounces produced from that area, reducing the cost impact of access development. Flexibility and efficiency: The ability for a mine to focus on few large mining complexes at any given time rather than multiple isolated stopes greatly supports efficiency in equipment, personnel, and material movement planning. The Company is experiencing this efficiency advantage already at site. Figures 2 through 4 below highlight a few examples of mining complexes where the tonnage and ounce profile increased through the definition drilling, resource model updating, and economic stope design 2. Image showing South Austin 4447 stope complex (blue). This area realized a 212% increase in tonnage and 320% increase in contained ounces mainly driven by definition 3. Image showing Austin 1099/1100 stope complex (blue). This area realized a 204% increase in tonnage and 222% increase in contained ounces mainly driven by definition 4. Image showing McVeigh 1453 stope complex (blue). This area realized a 32% increase in tonnage and 18% increase in contained ounces mainly driven by definition drilling. A more global potential benefit from mining larger stopes at Madsen is mining more of the resource. A mine plan based on a gold price of US$1,680 per oz. depletes the deposit relatively quickly, which is evident in a PFS probable reserve of only 478,000 ounces in 1.87 million tonnes grading 8.2 g/t gold mined in 7 years [1c], from a deposit with a total indicated resource of 1.65 million ounces of gold hosted in 6.9 million tonnes of rock averaging 7.4 g/t gold (the combined indicated resource for the Austin, South Austin, McVeigh, and 8 Zones) [1d]. The Madsen Mine PFS described the potential for more of the resource to be considered for mining if a higher gold price was used [1e]. A gold price environment that allows mine design to convert more of the resource into reserve suggests a longer mine life than outlined in the PFS, which is expected to have a positive impact on long-term profitability and overall project economics. Close reconciliation between expected and actual tonnes and grade in the bulk sample suggests that the Company's approach – appropriate definition drilling, responsive mine engineering, and disciplined, efficient mining – is creating the ability to mine at Madsen according to plan. The mine engineering and design process is a technical and economic exercise that responds to the price of gold. This will remain the Company's practice at the Madsen Mine. Other News The Company has received and accepted the resignation of Jasvir Kaloti as Corporate Secretary. The management and board of directors of the Company wish to thank Ms. Kaloti for her service and wish her well in the future. Efforts are in progress to identify a suitable Corporate Secretary candidate and Harpreet Dhaliwal, Chief Financial Officer, will hold this position in the interim. Footnotes Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company's website and on SEDAR+ at See PFS Section 16.5.3 Mining Methods – Underground Mining Methods – Planned Mining Methods. See PFS Report Section 21.3.2 Capital and Operating Costs – Operating Cost Estimates – Mining. Mineral reserve estimates based on a gold price of US$1,680/oz and an exchange rate of 1.31 C$/US$. Longhole stope cut-off grade of 4.30 gpt Au based on an estimated operating cost of C$287.34/t including mining, plant and G&A. Mechanized Cut and Fill stope cut-off grade of 5.28 gpt Au based on an estimated operating cost of C$354.90/t including mining, plant and G&A. Incremental development cut-off grade of 1 gpt Au. A small amount of incremental longhole tonnes were included at a cut-off grade of not less than 3.4 gpt Au, these must be immediately adjacent to economic stopes that will pay for the capital to access area. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources are not considered mineral reserves as they have not demonstrated economic viability. See Section 24.1 Other Relevant Data – Gold Price Sensitivity. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
West Red Lake Gold Intersects 61.51 g/t Au over 12.1m, 43.54 g/t Au over 8.35m and 24.61 g/t Au over 11.2m at South Austin
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- 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 Northwestern Ontario, Canada. Shane Williams, President & CEO, stated, 'The South Austin zone has been producing very high grades and impressive widths in the definition drilling program to begin 2025 – often associated with the presence of visible gold. The team is successfully defining a panel of very high-grade mineralization in South Austin between 8L and 12L of the mine. It is becoming apparent that a lot of high-grade material was left behind in this area by historic operators and we are taking full advantage of this low hanging fruit that sits immediately adjacent to our existing underground development. These organic growth opportunities are exciting because they represent high margin ounces that can be sequenced into our mine plan very efficiently. As drilling progresses at depth we expect to uncover more areas of untapped potential and look forward to providing further updates as assay results continue to be received.' These drill results are located approximately 50 meters ('m') up-dip from the South Austin intercepts previously announced on February 26, 2025, where drilling returned 114.26 grams per tonne ('g/t') gold ('Au') over 10.6m, 77.90 g/t Au over 3m and 24.48 g/t Au over 8.5m (Figure 3). This area is also approximately 300 m up plunge from the drill results recently announced on May 13, 2025 where drilling returned 48.97 g/t Au over 18.7m, 52.86 g/t Au over 4.5m and 25.49 g/t Au over 7.5m (Figure 3). The South Austin zone continues to demonstrate significant grade and thickness potential at depth and along strike, which is being fully realized and accurately defined through definition drilling. The purpose of this drilling was definition and expansion within priority areas of South Austin to continue adding to an already substantial inventory of high-confidence ounces to support the restart of production at the Madsen mine, which was announced on May 22, 2025. The Company reported positive results from its recently completed bulk sampling campaign on May 7, 2025, and also filed a Technical Report for its Pre-Feasibility Study for Madsen on February 18, 2025. The South Austin Zone currently contains an Indicated mineral resource of 474,600 ounces ('oz') grading 8.7 g/t Au within 1.7 million tonnes ('Mt'), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au within 0.1 Mt. SOUTH AUSTIN ZONE HIGHLIGHTS: Hole MM25D-08-4380-011 Intersected 12.1m @ 61.51 g/t Au, from 11.0m to 23.1m, Including 1m @ 725.00 g/t Au, from 12m to 13m, Also including 0.5m @ 16.06 g/t Au, from 23.5m to 24.0m. This high-grade intercept was complimented by a band of visible gold hosted within foliation adjacent to deformed blue-grey-quartz and diopside veinlets (Figure 1).Figure 1. Visible gold showings in hole MM25D-08-4380-011. A photo accompanying this announcement is available at Hole MM25D-08-4380-003 Intersected 8.35m @ 43.54 g/t Au, from 8.50m to 16.85m, Including 1m @ 347.81 g/t Au, from 8.5m to 9.5m. This high-grade intercept was complimented by a large bleb of visible gold associated with quartz-tourmaline and quartz-diopside veinlets (Figure 2).Figure 2. Visible gold showings in hole MM25D-08-4380-003.A photo accompanying this announcement is available at Hole MM25D-08-4380-026 Intersected 11.2m @ 24.61 g/t Au, from 7.8m to 19.0m, Including 1.5m @ 166.36 g/t Au, from 15.5m to 17.0m. Hole MM25D-08-4380-024 Intersected 3.2m @ 16.46 g/t Au, from 9.3m to 12.5m, Including 0.6m @ 75.44 g/t Au, from 9.9m to 10.5m. Hole MM25D-08-4380-006 Intersected 3m @ 16.96 g/t Au, from 6m to 9m, Including 1m @ 48.47 g/t Au, from 7m to 8m. Hole MM25D-08-4380-022 Intersected 3.3m @ 15.16 g/t Au, from 33.0m to 36.3m, Including 0.9m @ 46.01 g/t Au, from 33.6m to 34.5m. Visible gold was also observed in hole MM25D-08-4380-010 within a significant intercept as outlined below in Table 1. TABLE 1. Significant intercepts (>3 g/t Au) from drilling at South Austin Zone. Hole ID Target From (m) To (m) Length (m)* Au (g/t) MM25D-08-4380-001 South Austin 22.00 25.50 3.50 12.21 Incl. 24.50 25.50 1.00 39.58 MM25D-08-4380-002 South Austin 3.45 4.00 0.55 10.46 MM25D-08-4380-003 South Austin 8.50 16.85 8.35 43.54 Incl. 8.50 9.50 1.00 347.81 MM25D-08-4380-004 South Austin 17.50 19.00 1.50 3.43 MM25D-08-4380-005 South Austin 22.60 23.60 1.00 3.26 MM25D-08-4380-006 South Austin 1.00 3.00 2.00 3.82 AND South Austin 6.00 9.00 3.00 16.96 Incl. 7.00 8.00 1.00 48.47 MM25D-08-4380-007 South Austin 13.00 18.60 5.60 7.23 Incl. 14.50 15.50 1.00 19.96 Also Incl. 16.70 17.20 0.50 15.63 AND South Austin 20.10 22.60 2.50 3.00 MM25D-08-4380-008 South Austin 24.80 25.80 1.00 3.74 MM25D-08-4380-009 South Austin 13.50 16.50 3.00 12.99 Incl. 15.50 16.50 1.00 34.20 MM25D-08-4380-010 South Austin 13.30 16.00 2.70 3.57 AND South Austin 17.00 19.00 2.00 3.51 MM25D-08-4380-011 South Austin 11.00 23.10 12.10 61.51 Incl. 12.00 13.00 1.00 725.00 MM25D-08-4380-012 South Austin 24.50 29.20 4.70 6.98 Incl. 26.25 26.75 0.50 15.78 Also Incl. 28.45 29.20 0.75 25.91 MM25D-08-4380-013 South Austin 12.35 20.60 8.25 3.93 Incl. 14.35 15.35 1.00 10.98 MM25D-08-4380-014 South Austin 4.00 5.00 1.00 4.88 AND South Austin 25.50 26.40 0.90 4.83 MM25D-08-4380-015 South Austin No Assays > 3 g/t Au MM25D-08-4380-016 South Austin 22.00 25.00 3.00 4.32 AND South Austin 27.50 28.10 0.60 3.77 MM25D-08-4380-017 South Austin 14.50 16.50 2.00 3.49 AND South Austin 20.70 22.00 1.30 3.57 MM25D-08-4380-018 South Austin No Assays > 3 g/t Au MM25D-08-4380-019 South Austin 8.00 12.00 4.00 11.34 Incl. 10.00 11.00 1.00 30.25 MM25D-08-4380-020 South Austin 18.40 20.15 1.75 8.52 Incl. 19.50 20.15 0.65 15.52 MM25D-08-4380-021 South Austin 7.40 9.00 1.60 3.85 AND South Austin 12.00 20.25 8.25 5.18 Incl. 14.20 15.00 0.80 23.76 MM25D-08-4380-022 South Austin 17.50 21.00 3.50 5.28 Incl. 18.40 19.25 0.85 14.36 AND South Austin 33.00 36.30 3.30 15.16 Incl. 33.60 34.50 0.90 46.01 MM25D-08-4380-023 South Austin 2.75 6.40 3.65 4.25 Incl. 5.00 5.50 0.50 13.57 MM25D-08-4380-024 South Austin 6.00 8.00 2.00 6.52 AND South Austin 9.30 12.50 3.20 16.46 Incl. 9.90 10.50 0.60 75.44 MM25D-08-4380-025 South Austin 10.00 14.00 4.00 3.28 MM25D-08-4380-026 South Austin 7.80 19.00 11.20 24.61 Incl. 15.50 17.00 1.50 166.36 MM25D-08-4380-027 South Austin 9.00 11.00 2.00 4.21 AND South Austin 17.00 18.90 1.90 3.19 MM25D-08-4380-028 South Austin 17.80 18.50 0.70 9.51 AND South Austin 22.00 23.50 1.50 21.56 Incl. 22.00 22.95 0.95 33.01 *The 'From-To' intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Composite grades reported are uncapped. Internal dilution for composite intervals does not exceed 1m for samples grading <0.1 g/t Au. TABLE 2: Drill collar summary for holes reported in this News Release. Hole ID Target Easting Northing Elev (m) Length (m) Azimuth Dip MM25D-08-4380-001 South Austin 435579 5646330 31 26.0 93 -14 MM25D-08-4380-002 South Austin 435579 5646329 31 17.8 99 0 MM25D-08-4380-003 South Austin 435579 5646329 32 18.6 105 14 MM25D-08-4380-004 South Austin 435579 5646329 31 22.0 110 -19 MM25D-08-4380-005 South Austin 435579 5646329 30 27.7 111 -32 MM25D-08-4380-006 South Austin 435579 5646328 33 12.0 121 27 MM25D-08-4380-007 South Austin 435579 5646328 32 102.0 123 2 MM25D-08-4380-008 South Austin 435579 5646328 30 25.8 124 -31 MM25D-08-4380-009 South Austin 435576 5646327 30 22.2 127 -19 MM25D-08-4380-010 South Austin 435576 5646327 31 36.0 129 3 MM25D-08-4380-011 South Austin 435577 5646327 33 33.5 130 32 MM25D-08-4380-012 South Austin 435576 5646327 30 29.2 138 -32 MM25D-08-4380-013 South Austin 435576 5646327 31 20.6 141 -8 MM25D-08-4380-014 South Austin 435576 5646327 32 36.0 146 15 MM25D-08-4380-015 South Austin 435576 5646327 33 14.1 153 45 MM25D-08-4380-016 South Austin 435575 5646327 31 39.0 156 3 MM25D-08-4380-017 South Austin 435575 5646327 32 36.0 163 28 MM25D-08-4380-018 South Austin 435570 5646311 30 19.0 107 -20 MM25D-08-4380-019 South Austin 435569 5646311 31 15.0 117 -11 MM25D-08-4380-020 South Austin 435569 5646311 32 26.5 118 23 MM25D-08-4380-021 South Austin 435567 5646311 33 36.5 145 60 MM25D-08-4380-022 South Austin 435568 5646310 30 45.0 146 -24 MM25D-08-4380-023 South Austin 435568 5646311 33 33.0 139 30 MM25D-08-4380-024 South Austin 435568 5646310 32 33.0 157 30 MM25D-08-4380-025 South Austin 435567 5646310 32 33.0 175 29 MM25D-08-4380-026 South Austin 435567 5646311 33 33.0 166 48 MM25D-08-4380-027 South Austin 435569 5646312 33 36.0 101 27 MM25D-08-4380-028 South Austin 435569 5646312 32 35.3 95 10 DISCUSSION Accessed through the Madsen Mine East Portal, the South Austin Zone sits south in the hanging wall of the main Austin Zone. Like the other mineralized domains that comprise the Madsen Mine, the South Austin structure is hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism. At the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are locally folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. In addition to this intense deformation overprint, the mineralized veins and alteration have been subjected to the relatively high temperatures of amphibolite facies metamorphism, which led to extensive recrystallization and growth of the skarn-like replacement mineral assemblage of diopside-amphibole-quartz-biotite. All significant gold mineralization on the mine property is demonstrably early relative to the most significant, penetrative deformation (D2) and metamorphic events. The North Austin Zone displays 'mine-style' alteration and mineralization and consists of multiple mineralized domains defined over a strike length of 0.5km. Mineralization remains open at depth and along strike to the northeast. In drill core, or at underground face exposures, gold-bearing zones at the Madsen Mine are best identified visually by fine (sub-millimetre) grains of free gold within strong alteration and veining. All high-grade intervals generally contain visible gold on drill core exteriors, although numerous examples exist of high-grade assays where visible gold was only identified within the interior (cut surface) of the core samples. Apart from the presence of free gold, pervasive silicification (locally accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the best indicators that a given interval is within a high-grade zone along/within the mineralized structure. The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. Drilling has been focused on the more continuous and higher-grade portions of the Austin, South Austin, North Austin and McVeigh Zones. This will continue to be the strategy through 2025. High resolution versions of all the figures contained in this press release can be found at the following web link: 3. Long section highlighting Top Three (3) intercepts announced in 2025 from infill drilling stations in the South Austin, Austin and McVeigh Zones[1].[1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company's website and on SEDAR+ at photo accompanying this announcement is available at 4. Madsen Mine long section showing location of 08-4380 Drill Bay in the South Austin Zone.[1] [1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company's website and on SEDAR+ at photo accompanying this announcement is available at 5. South Austin plan view drill section showing assay highlights for Holes MM25D-08-4380-001 through -028.A photo accompanying this announcement is available at 6. South Austin section view showing assay highlights for Holes MM25D-08-4380-024 through -026.A photo accompanying this announcement is available at 7. South Austin section view showing assay highlights for Holes MM25D-08-4380-021 through -023.A photo accompanying this announcement is available at 8. South Austin section view showing assay highlights for Holes MM25D-08-4380-018 through -020, -027 and -028.A photo accompanying this announcement is available at 9. South Austin section view showing assay highlights for Holes MM25D-08-4380-013 through -017.A photo accompanying this announcement is available at 10. South Austin section view showing assay highlights for Holes MM25D-08-4380-009 through -012.A photo accompanying this announcement is available at FIGURE 11. South Austin section view showing assay highlights for Holes MM25D-08-4380-006 through -008. Hole -007 was an exploratory hole extended to confirm the contact with Confederation rocks to the southeast.A photo accompanying this announcement is available at FIGURE 12. South Austin section view showing assay highlights for Holes MM25D-08-4380-001 through -005.A photo accompanying this announcement is available at QUALITY ASSURANCE/QUALITY CONTROL Drilling completed underground at the Madsen Mine consists of BQ-sized diamond drill core for definition drill programs and oriented NQ-sized diamond drill core for exploration focused drilling. All drill holes are systematically logged, photographed, and sampled by a trained geologist at the Madsen Mine core processing facility. Minimum allowable sample length is 0.5m. Maximum allowable sample length is 1.5m. Control samples (certified standards and uncertified blanks), along duplicates, are inserted at a target 5% insertion rate. Results are assessed for accuracy, precision, and contamination on an ongoing basis. The BQ-sized drill core is whole core sampled. The NQ-sized drill core is then cut lengthwise utilizing a diamond blade core saw along a line pre-selected by the geologist. To reduce sampling bias, the same side of drill core is sampled consistently utilizing the orientation line as reference. For those samples containing visible gold ('VG'), a trained geologist supervises the cutting/bagging of those samples, and ensures the core saw blade is 'cleaned' with a dressing stone following the VG sample interval. Bagged samples are then sealed with zip ties and transported by Madsen Mine personnel directly to SGS Natural Resource's Facility in Red Lake, Ontario for assay. Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2mm. A riffle splitter is then utilized to produce a 500g course reject for archive. The remainder of the sample is then pulverized to 85% passing 75 microns from which 50g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish (SGS Code GO-FAA50V10). Samples returning gold values > 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50g sample (SGS Code GO_FAG50V). Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multi-element analysis, samples are sent to SGS's facility in Burnaby, British Columbia and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25g sample pulps (SGS code: GE_ICP40Q12). SGS Natural Resources analytical laboratories operates under a Quality Management System that complies with ISO/IEC 17025. The Madsen Mine deposit presently hosts a National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101') Indicated resource of 1.65 million ounces ('Moz') of gold grading 7.4 g/t Au within 6.9 Mt, and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t Au within 1.8 Mt. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources as stated are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Madsen Mine also contains Probable reserves of 478 thousand ounces ('koz') of gold grading 8.16 g/t Au within 1.87 Mt. Mineral reserve estimates are based on a gold price of US$1,680/oz. Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025 (the 'Madsen Report'). The Madsen Resource Estimate has an effective date of December 31, 2021, and excludes depletion of mining activity during the period from January 1, 2022, to the mine closure on October 24, 2022, as it has been deemed immaterial and not relevant for the purpose of the Madsen Report. A full copy of the Madsen Report is available on the Company's website and on SEDAR+ at The technical information presented in this news release has been reviewed and approved by Will Robinson, Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 'Standards of Disclosure for Mineral Projects'. ABOUT WEST RED LAKE GOLD MINES West Red Lake Gold Mines Ltd. is a mineral development company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines - Rowan, Mount Jamie, and Red Summit. A map accompanying this announcement is available at ON BEHALF OF WEST RED LAKE GOLD MINES LTD. 'Shane Williams' Shane Williams President & Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT: Gwen Preston Vice President Communications Tel: (604) 609-6132 Email: investors@ or visit the Company's website at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION Certain statements contained in this news release may constitute 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as 'anticipate', 'expect', 'estimate', 'forecast', 'planned', and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the potential production of mining operations at the Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company's future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices; and changes in the Company's business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company's management's discussion and analysis for the year ended December 31, 2024, and the Company's annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. For more information on the Company, investors should review the Company's continuous disclosure filings that are available on SEDAR+ at .
Globe and Mail
22-05-2025
- Business
- Globe and Mail
West Red Lake Gold restarts Madsen mine in Ontario
May 22, 2025 — At a meeting on May 21, 2025, the West Red Lake Gold Mines Ltd. board of directors approved management's recommendation to restart the Madsen mine immediately. 'West Red Lake Gold acquired the Madsen mine in June, 2023, with the goal to use our team's deep technical experience to unlock the abundant, but at the time discounted, potential of this mine,' said Shane Williams, president and chief executive officer. 'We have pushed hard for two years to accomplish that feat and now, with major infrastructure projects complete and our bulk sample having delivered mined tonnes and gold grade aligned with modelled expectations, our approach has been validated and we are ready to mine on a continual basis. 'This restart decision is a major milestone that has been achieved by systematically derisking the technical, operating and funding requirements of a sustainable, high-grade gold operation at Madsen, and I am very pleased to deliver this restart to all key stakeholders, including our shareholders and neighbours.' For the past year, West Red Lake Gold has communicated a plan to restart the Madsen mine by the middle of 2025. Restarting now delivers this milestone slightly ahead of schedule, positioning the mine for an exciting second half of the year. Specifically, the company plans to mine and process an average of 500 tonnes per day for the first two months before ramping up operations through the second half of the year. About West Red Lake Gold Mines Ltd. West Red Lake Gold Mines is a mineral development company that is publicly traded and focused on advancing and developing its flagship Madsen gold mine and the associated 47-square-kilometre, highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake gold district of Northwestern Ontario, Canada, has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. West Red Lake Gold Mines also holds the wholly owned Rowan property in Red Lake, with an expansive property position covering 31 square kilometres, including three past-producing gold mines — Rowan, Mount Jamie and Red Summit. We seek Safe Harbor. Featured Image @ Freepik Read more investing news on to the PressReach RSS feeds:
Hamilton Spectator
22-05-2025
- Business
- Hamilton Spectator
West Red Lake Gold Announces Official Restart of the Madsen Mine
VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd. ('West Red Lake Gold' or 'WRLG' or the 'Company') (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report that, at a meeting on May 21, 2025, the WRLG Board of Directors approved management's recommendation to restart the Madsen Mine immediately. 'West Red Lake Gold acquired the Madsen Mine in June 2023 with the goal to use our team's deep technical experience to unlock the abundant but at the time discounted potential of this mine,' said Shane Williams, President and CEO. 'We have pushed hard for two years to accomplish that feat and now, with major infrastructure projects complete and our bulk sample having delivered mined tonnes and gold grade aligned with modeled expectations, our approach has been validated and we are ready to mine on a continual basis. 'This restart decision is a major milestone that has been achieved by systematically derisking the technical, operating, and funding requirements of a sustainable high-grade gold operation at Madsen and I am very pleased to deliver this restart to all key stakeholders, including our shareholders and neighbours.' For the last year, West Red Lake Gold has communicated a plan to restart the Madsen Mine by the middle of 2025. Restarting now delivers this milestone slightly ahead of schedule, positioning the mine for an exciting second half of the year. Specifically, the Company plans to mine and process an average of 500 tonnes per day for the first two months before ramping up operations through the second half of the year. ABOUT WEST RED LAKE GOLD MINES West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines - Rowan, Mount Jamie, and Red Summit. ON BEHALF OF WEST RED LAKE GOLD MINES LTD. 'Shane Williams' Shane Williams President & Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT: Gwen Preston Vice President Communications Tel: (604) 609-6132 Email: investors@ or visit the Company's website at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION Certain statements contained in this news release may constitute 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as 'anticipate', 'expect', 'estimate', 'forecast', 'planned', and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the potential production of mining operations at the Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company's future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices; and changes in the Company's business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company's management's discussion and analysis for the year ended December 31, 2024, and the Company's annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at . The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. For more information on the Company, investors should review the Company's continuous disclosure filings that are available on SEDAR+ at . An infographic accompanying this announcement is available at
