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West Red Lake Gold intersects highgrade at McVeigh and at Austin – Madsen Mine

Aug 28, 2024


West Red Lake Gold Mines Ltd. is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario. 

The drill results featured in this news release are focused on the high-grade Austin and McVeigh Zones. The Austin Zone currently contains an Indicated mineral resource of 914,200 ounces (“oz”) grading 6.9 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 104,900 oz grading 6.5 g/t Au. The McVeigh Zonecurrently contains an Indicated mineral resource of 79,800 oz grading 6.4 g/t Au, with an additional Inferred resource of 14,300 oz grading 6.9 g/t Au.

These results follow-up on the significant intercepts previously announced on August 12, 2024, where drilling returned 107.61 g/t Au over 2.5 meters (“m”) at Austin and 106.99 g/t Au over 2.35m at McVeigh.

The purpose of this drilling was definition within priority areas of Austin and McVeigh to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen mine, which is expected to commence in H2 2025. The Company expects to complete a pre-feasibility study in support of that restart goal in the coming months.

 

MCVEIGH ZONE HIGHLIGHTS:

  • Hole MM24D-01-4081-025 Intersected 5.5m @ 17.77 g/t Au, from 44.5m to 50.0m, Including 2.2m @ 38.56 g/t Au, from 45.0m to 47.2m, Also Including 0.5m @ 19.15 g/t Au, from 49.5m to 50.0m.

     

  • Hole MM24D-01-4081-028 Intersected 2m @ 36.62 g/t Au, from 51.5m to 53.5m, Including 0.6m @ 100.44 g/t Au, from 52.4m to 53.0m.

     

  • Hole MM24D-01-4081-027 Intersected 5m @ 10.82 g/t Au, from 43m to 48m, Including 1m @ 11.44 g/t Au, from 44m to 45m, Also including 0.5m @ 64.71 g/t Au, from 46.6m to 47.1m.

     

  • Hole MM24D-01-4081-039 Intersected 0.6m @ 89.93 g/t Au, from 50.0m to 50.6m.

 

AUSTIN ZONE HIGHLIGHTS:

  • Hole MM24D-09-4796-025 Intersected 12.12m @ 7.35 g/t Au, from 92.88m to 105.00m, Including 2.5m @ 19.39 g/t Au, from 93.5m to 96.0m.

     

  • Hole MM24D-09-4796-023 Intersected 7m @ 11.06 g/t Au, from 85.5m to 92.5m, Including 0.51m @ 15.72 g/t Au, from 87.09m to 87.60m, Also including 1.87m @ 28.14 g/t Au, from 90.63m to 92.50m.

     

  • Hole MM24D-09-4796-029 Intersected 6.3m @ 6.04 g/t Au, from 77.0m to 83.3m, Including 0.67m @ 13.82 g/t Au, from 78.00m to 78.67m, Also including 1m @ 12.60 g/t Au, from 82.3m to 83.3m.

     

Shane Williams, President & CEO, stated, “The exceptional drill results that continue to be produced from McVeigh are very encouraging and highlight the opportunity that remains in this shallow, high-grade, easily accessible portion of the Madsen deposit. The Austin zone also continues to impress with solid results that help to strengthen our view that the Madsen deposit has plenty of meat left on the bones while also offering significant upside as we continue to access deeper portions of the main deposit.”



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