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Business Wire
17-06-2025
- Business
- Business Wire
Spanish Mountain Gold Concludes Diamond Drill Program with 300 m Step-out Hole Intersecting 0.49 g/t over 100.49 meters in the K-Zone
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to report final drill results from the recently completed 10,000 m winter drilling program. The results include a strategic step-out hole located approximately 300 m to the northwest of the K-Zone high-grade intercept from hole 25-DH-1286 (refer to press release dated April 24, 2025). Highlights: •Hole 25-DH-1290 intercepted broad mineralization over 100.49 m grading 0.49 g/t Au, from 300 m, including 15.00 m grading 1.29 g/t Au, and 1.00 m grading 12.13 g/t Au, which displayed visible gold. Hole 25-DH-1290 is approximately 300.00 m northwest of hole 25-DH-1286. • Hole 25-DH-1290 also discovered a new cataclastic argillite unit at 240.00 m vertical depth, displaying consistent grades that potentially extend the depth of mineralization in a southwesterly direction, outside the 2021 Prefeasibility Study ('PFS'), open-pit constrained, mineral resource estimate (refer to press release dated May 11, 2021). • Holes 25-DH-1288 and 25-DH-1291 were collared 35.00 m northeast of hole 25-DH-1286 and encountered multiple quartz veins with encouraging gold values. 25-DH-1288 intercepted 46.00 m grading 0.22 g/t Au from 162.00 m, including 8.00 m grading 0.39 g/t Au and 2.00 m grading 1.06 g/t Au. 25-DH-1291 had 5.33 m grading 0.34 g/t Au. Julian Manco, Spanish Mountain Gold's Director of Exploration, commented, 'Overall, we are very pleased with this year's diamond drill campaign, having revealed several significant extensions to gold mineralization at the Phoenix, Outcropping Tuff, and K-Zone targets. These results have grown the mineral endowment potential strike length to 3 km. It is a very exciting time for the project's growth prospects.' The evolving geological and structural interpretation of the Spanish Mountain Gold project area continues to unlock new mineral potential in adjacent structural domains southwest of the 2021 PFS, open pit constrained, mineral resource estimate (refer to press release dated May 11, 2021). Recent drilling results support the hypothesis for a new prospective target area within the mafic tuff unit (Figure 2). Intense hydrothermal alteration was observed within the mafic tuff unit near this fault suggesting possible intrusive characteristics along the south fault that may have also served to transport mineralizing fluids. The gold in soil anomalies observed near the confluence of the major fault structures such as the North Fault, South Fault, Fault 1 and Fault 2 (see Figure 1), continues to demonstrate that these structural intersections represent compelling exploration targets that can be used to explore on a broader project scale. Table 1: 2025 Winter Drill Program – Summarized Gold Assay Results Drillhole ID From To Width(m) Gold Grade (g/t Au) 25-DH-1288 19.00 23.00 4.00 0.23 25-DH-1288 51.00 71.00 20.00 0.24 including 67.92 69.00 1.08 1.25 25-DH-1288 162.00 208.00 46.00 0.22 including 162.00 170.00 8.00 0.39 including 206.00 208.00 2.00 1.06 25-DH-1289 308.00 312.00 4.00 0.33 25-DH-1290 300.00 399.00 100.49 0.49 including 338.00 346.00 8.00 1.84 including 341.00 342.00 1.00 12.13 including 384.00 399.00 15.00 1.29 including 386.00 397.00 11.00 1.62 including 393.00 397.00 4.00 2.56 25-DH-1291 171.67 177.00 5.33 0.34 Expand Notes: Reported intersections are calculated using a 0.15 g/t Au cut-off grade. The complete assay table is available on the Company's website True thickness of mineralization is unknown Table 2: Drill Hole Collar Summary Abbreviations: metres = m, grams per tonne = g/t, gold = Au, visible gold = VG, quality control-quality assurance = QAQC, Prefeasibility Study = PFS, Professional Geologist = Drill Core Processing, Data Verification and Quality Assurance – Quality Control Program (QAQC) Once received from the drill and processed, all drill core samples were sawn in half, labeled, and bagged. The remaining half of the drill core was securely stored on-site. Numbered security tags were applied to sample shipments to ensure chain of custody compliance. The Company inserts quality control (QC) samples at regular intervals, including blanks and reference materials, for all sample shipments to monitor laboratory performance. Standards and blanks account for a minimum of 15% of the samples in addition to the laboratory's internal quality assurance programs. The QAQC program was overseen by the Company's Qualified Person, Julian Manco, Director of Exploration (as described below). Drill core samples were submitted to MSALABS' analytical facility in Prince George, British Columbia, for sample preparation and PhotonAssay TM analysis. The MSALABS facilities are accredited to the International Standards ISO/IEC 17025 and ISO 9001 standard for gold and multi-element assays, with all analytical methods incorporating quality control materials at defined frequencies and established data acceptance criteria. MSALABS Inc. is independent of the Company. PhotonAssay TM The PhotonAssay TM method utilizes gamma ray analysis for gold detection using the Chrysos PhotonAssay TM instrument (PA1408X). This non-destructive, fully automated technique offers high accuracy for analyzing ores and pulps. Sample preparation begins with drying and crushing up to 1 kg of material to achieve at least 70% passing through a 2-millimetre (mm) sieve. The sample is then riffle split to obtain a suitable aliquot for 2 testing cycles (MSALABS Method CPA-Au1). The PhotonAssay TM instrument bombards 400 - 600 gram samples contained in sealed containers with gamma rays. These containers remain sealed throughout the process, preserving the sample for potential further testing. The analysis is performed robotically, with results that integrate into existing laboratory management systems. Each sample is accompanied by a reference disc traceable to a Certified Reference Material (CRM). Both the sample and reference disc undergo gamma ray exposure, with signals detected and analyzed to ensure accurate and reliable results. The method offers a gold detection range from 0.015 parts per million (ppm - lower limit) to 10,000 ppm (upper limit). Quality control includes the use of reference materials and blanks, with all results reviewed by a competent person before reporting. Spanish Mountain Gold implemented two QAQC methodologies to validate the accuracy of PhotonAssay TM results, both demonstrating good comparability: 1) comparative analysis of diverse mineralization styles using Total Au screen metallic methods with both FAS-415 (gravimetric finish) and FAS-211 (AAS finish), and 2) comprehensive testing of both sample aliquots and rejects using FAS-211 (AAS finish). QAQC Testing typically can include the following spot checks: 1) Pulverizing tests to evaluate variability in sample preparation, 2) Cross-analysis at external laboratories using screen metallic method, and 3) Four-cycle radiation testing to identify and calibrate potential variability in gold results with variable radiation intensity. To effectively manage the nugget effect gold samples MSALABS tested samples to "extinction" (CPA-Au1E method). This approach divides samples into multiple splits, analyzes each separately using PhotonAssay TM, and then calculates a weighted average of the results. By testing various portions of the sample independently and combining their values proportionally, this method provides significantly more representative gold values than traditional single-split analysis for samples with a large nugget effect. Multi-Elemental Analysis For the 2025 drilling campaign Spanish Mountain Gold used IMS-230 method to provide multi-element determination using a four-acid digestion followed by ICP-OES and ICP-MS analysis. Key Process Steps: Sample Preparation: Samples are dried and ground to specific criteria (85% passing 75 microns (μm) for rocks and drill core; 180μm for soils and sediments). A homogeneous 10-gram sample is required. Digestion: Samples undergo sequential digestion with nitric, perchloric, hydrofluoric, and hydrochloric acids, followed by dilution with deionized water. Analysis: The solution is analyzed via ICP-OES and ICP-MS for multi-element quantification. Quality Control: The process includes reference materials, blanks, and duplicates, with corrections for spectral interferences and thorough review before final reporting. Julian Manco, has verified the data disclosed in this news release. The data verification process involved a multi-step approach to ensure accuracy and integrity. This included a detailed quality control (QC) analysis of the data, which was performed using both internal and external platforms, such as the MxDeposit™ software. These QC checks involved the analysis of certified reference materials (CRMs), blanks, and duplicates to confirm the reliability of the assay results. In addition, Mr. Manco, conducted a field inspection of the specific drill intervals mentioned in this release to directly observe the geological features and verified the nature of the results presented. Qualified Person Julian Manco, Director of Exploration with Spanish Mountain Gold, is the Qualified Person as defined under National Instrument 43-101 who has reviewed and has approved the contents of this news release. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company expects to release at the end of Q2, 2025, the results for the Project's newly de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE). Upon receipt of the new PEA and updated MRE, the company will decide the next steps to advance the Project to position the company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details of the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. 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. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.


Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
West Red Lake Gold Reports Positive Bulk Sample Reconciliation Results
VANCOUVER, British Columbia, May 07, 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 positive reconciliation results from the bulk sample program at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada. Highlights 'Delivering tonnes and grade from the mine that align almost exactly with expectation validates all the work we have done to unlock the tremendous value in the Madsen Mine,' said Shane Williams, President and CEO. 'This achievement underlines that Madsen is on track to become a new high-grade gold mine in 2025 and I want to thank the team at Madsen for their dedicated efforts.' 'We acquired Madsen because we believed an accurate geological model, detailed engineering design, and disciplined mining practices would enable exactly this – a mine that delivers to plan. I am extremely pleased to deliver these bulk sample results and I look forward to ramping up operations at the Madsen Mine in the coming months.' The bulk sample included material from three main resource zones at Madsen - Austin, South Austin, and McVeigh - and followed the workflow and methodology to be implemented during regular mine operations. Close reconciliation between predicted and actual grades and tonnages highlight the effectiveness of definition drilling and detailed stope design in informing accurate modelling of gold mineralization. West Red Lake Gold has completed over 90,000 metres of definition drilling since October 2023 and the high-confidence tonnes resulting from this ongoing program currently make up approximately 90% of the 18-month detailed mine plan. Figure 1: Madsen Mine long section showing bulk sample locations against resource areas, active development, and historic workings. Table 1: Reconciliation Results for the Madsen Mine Bulk Sample Six stopes were drilled, engineered, and mined using the same workflow the Company plans to implement during regular mine operations at Madsen: 'We design stopes to maximize economic benefit in today's gold price environment. This differs from the Prefeasibility Study ('PFS'), which used a gold price of US$1,680 per ounce when designing stopes,' said Mr. Williams. 'Using a gold price just below the long-term consensus gold price of US$2,350 per oz. unlocks significant opportunity at Madsen because, in many areas, a halo of lower-grade mineralization can be profitable to include in the stope design when it surrounds targeted high-grade tonnes. In addition, mining larger stopes can lower mining costs by enabling long hole stoping instead of cut-and-fill methods. We used long hole stoping exclusively in the bulk sample.' 'We are excited by the opportunity to mine additional tonnes and ounces at Madsen, potentially lowering operational costs, increasing production, and enhancing overall economics relative to the PFS mine plan.' Soutex Inc., an external independent consultant, observed the bulk sample process at the mill in its entirety, including sampling protocols. Day and night shift daily composite samples collected during the processing of the bulk sample were assayed by an accredited third-party lab at SGS Natural Resources' facility in Red Lake, Ontario. Soutex reconciled the bulk sample results using BILMAT software. Geology Mineralization between the McVeigh, Austin and South Austin domains are generally comparable geologically. Structures are hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism. Gold-bearing zones at Madsen are best identified visually by sub-millimeter grains of free gold within strong alteration and veining, often accompanied by the presence of arsenopyrite, pyrrhotite, pyrite and more rarely chalcopyrite. Sulphide percentage, though not directly associated with gold grade, typically ranges between 1-5% for mineralized zones. 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 the mineralized structure. Mining The Madsen bulk sample was mined using the long hole retreat mining method. The long hole retreat method requires the mining of two development sills at 20 metres floor-to-floor vertical intervals. While mining the sills, sampling of the face and sidewalls was completed to test the width and grade of the mineralization. A slot raise was drilled and blasted at the far end of the sills, connecting the two sills and creating a breaking point for the stope. After blasting, the raise muck was removed before subsequent blasts were taken to 'slice' the stope into the newly created void. Mucking in the stope was done by line of sight enabled remote Load Haul Dumpers (LHD's). Mucked ore was sampled and trucked to surface stockpiles. Muck from the LHD buckets were sampled at regular intervals, using a 'dice five' pattern in each bucket. Three different areas of the mine were subjected to the same Bulk Sampling methodology to ensure a practically representative sample of the orebody. The areas that underwent bulk sampling were McVeigh, Austin, and South Austin complexes. The stoping process was carefully campaigned. Each stope was removed separately to surface and placed in a separate stockpile to ensure no blending of the stope ore took place. A Cavity Monitoring Survey (CMS) was done on each of the completed stope voids. The quantity of LHD buckets, as well as the quantity of truck loads from the stopes were carefully recorded. Once on surface, the completed stockpiles were again scanned to ensure tonnage reconciliation from underground to crusher at the mill. Processing The Madsen Mill consists of primary crushing, followed by grinding to 80% passing 75 µm using a semi-autogenous grinding mill and ball mill. Gravity concentration recovers gold from the SAG screen undersize and ball mill discharge. Cyclone overflow is thickened to 50% solids in a pre-leach thickener, then pre-aerated with oxygen followed by a 24-hour cyanide leach at a cyanide concentration of 150-170 ppm and a pH of 11.0 in five leach tanks. Gold in solution is then recovered via carbon-in-pulp (CIP) adsorption in six CIP tanks with a residence time of five hours, followed by acid wash, elution, and refining to produce gold dore on site. QUALIFIED PERSON The technical information presented in this news release has been reviewed and approved 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 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 plans and timing for the potential production of mining operations at the Madsen Mine, the potential (including the amount of tonnes and grades of material from the bulk sample program) of the Madsen Mine; the benefits of test mining; 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; timing and results of the cleanup and recovery at the Madsen Mine; 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: