VANCOUVER, British Columbia, Oct. 02, 2024 (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 initial drill results from the Upper 8 Target (“Upper 8”) from its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada.
The Upper 8 Target
The drill results featured in this news release are focused on the Upper 8 target, which is a shallower geologic analog to the well known high-grade 8-Zone. The Upper 8 target is hosted within the same lithologic unit (Russet Lake Ultramafic) approximately 750m up-plunge from the main 8-Zone deposit. Its location in ultramafic rocks, its style of mineralization, and its exceptionally high grades make the 8 Zone geologically unique from the main Madsen deposit. The 8 Zone currently contains an Indicated mineral resource of 87,700 ounces (“oz”) grading 18 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 18,200 oz grading 14.6 g/t Au.
Insight on the Drill Results
These are the first drill results announced from an ongoing 10,000m surface exploration drilling program designed to test a number of high-priority targets across the Madsen property. The initial results from Upper 8 drilling are quite encouraging and demonstrate proof-of-concept for the regional targeting model. This reinforces the potential for discovery of another 8-Zone type deposit on the highly prospective Madsen property. The results show high-grade gold mineralization, indicating the effectiveness of drilling from the surface with a high degree of accuracy.
Drill Results Highlights
- Hole WRL24-002 Intersected 4.1m @ 14.20 g/t Au, from 354.8m to 358.9m, Including 1.3m @ 44.17 g/t Au, from 357.0m to 358.3m.
- Hole WRL24-003 Intersected 1.85m @ 6.33 g/t Au, from 332.45m to 334.30m, Including 0.5m @ 20.63 g/t Au, from 333.8m to 334.3m.
Will Robinson, Vice President of Exploration, stated, “The initial results from Upper 8 drilling are quite encouraging and not only demonstrate proof-of-concept for our regional targeting model, but also reinforce our thesis that there is very real potential for discovery of another 8-Zone type deposit on our highly prospective Madsen property. The relatively shallow position of Upper 8 allows for us to drill this target effectively from surface with a high degree of accuracy. With two out of three of the initial holes drilled at Upper 8 returning high-grade gold mineralization where projected, we are planning to add a second drill in the coming weeks dedicated to drilling at Upper 8. The team is very excited to return to this area to continue defining and growing this shallower 8-Zone analog.”
Drill Collar Summary
| Hole ID | Target | Easting | Northing | Elev (m) | Length (m) | Azimuth | Dip |
| WRL24-001 | Upper 8 | 434914 | 5646577 | 407 | 401.8 | 278 | -56 |
| WRL24-002 | Upper 8 | 434914 | 5646577 | 407 | 500.2 | 289 | -45 |
| WRL24-003 | Upper 8 | 434914 | 5646577 | 407 | 500.3 | 289 | -49 |
Additional Insight
DISCUSSION:
Drilling on the Upper 8 target is designed to test the projected, near-surface extension of the mineralized shear corridor that hosts the highly prospective 8-Zone. Recent drilling on the Upper 8 target by WRLG has shown that gold mineralization is similar in geological setting and style as the deeper 8-Zone deposit. Recognition that the gold mineralization at the Upper 8 target is comprised of transposed quartz veinlets within a definable and recognizable shear corridor provides excellent opportunity for additional drilling and expansion potential.
High resolution versions of all the figures contained in this press release can be found at the following web address:
FIGURE 3. Sectional View of Upper 8 Target relative to 8-Zone and Madsen deposits.[1] Note the similarity in orientation of the Upper 8 shear boundary relative to orientation on the 8-Zone – suggests potential for sub-parallel structures between 8-Zone and Upper 8.
Quality Assurance/Quality Control
Exploration drilling completed on surface at the Madsen Mine consists of oriented NQ-sized diamond drill core. Samples are assessed for accuracy, precision, and contamination on an ongoing basis. The BQ-sized drill core is whole core sampled. All drill holes are systematically logged, photographed, and sampled by a trained geologist at the Madsen Mine core processing facility.
Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
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. 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:
Freddie Leigh
Tel: (604) 609-6132
Email: investors@wrgold.com 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.
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.
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.
For more information on the Company, investors should review the Company’s continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.
Photos accompanying this announcement are available at
