West Red Lake Gold Mines Ltd. (“West Red
Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)
(OTCQB: WRLGF) is pleased to provide an update on
the Company’s interpretation and vision for the
Fork
Deposit (“Fork”) at its 100% owned Madsen Property located
in the Red Lake Gold District of Northwestern Ontario, Canada.
The Fork deposit currently contains an
Indicated mineral resource of 20,900 ounces (“oz”) grading
5.3 grams per tonne (“g/t”) gold (“Au”), with an
additional Inferred resource of 49,500 oz grading 5.2 g/t
Au.
WRLG has recently completed a re-evaluation of
the Fork deposit and has recognized a shallow,
high-grade, low-plunging zone of gold mineralization that
is located approximately 250 meters (“m”) southwest from existing
underground development at Madsen.
The zone trends north-south and has been defined
by previous drilling over an area of 400m by 250m and shows
potential for further expansion along strike to the south. Average
thickness of the zone is conservatively estimated at approximately
2m based on existing core length intercepts.
The shallow nature of this target will allow for
systematic and efficient infill and expansion drilling from surface
with holes averaging 150-250m depth. Fork will be a priority drill
target for WRLG in 2025.
FORK DRILLING HIGHLIGHTS
(HISTORIC):
- Hole
RUM-08-49 Intersected 13.05m @ 13.97 g/t
Au, from 107.65m to 120.7m, Including 3.63m @
30.79 g/t Au, from 110.37m to 114.00m, Also including
1.97m @ 32.55 g/t Au, from 118.73m to
120.70m.
- Hole
PDM04-318 Intersected 9.3m @ 8.14 g/t
Au, from 128.1m to 137.4m, Including 0.7m @ 85.70
g/t Au, from 128.1m to 128.8m, Also including 0.6m
@ 21.3 g/t Au, from 136.8m to 137.4m.
- Hole RUM-08-68
Intersected 1.3m @ 50.48 g/t Au, from 95.7m to
97.0m, Including 0.2m @ 169.09 g/t Au, from 95.8m
to 96.0m, Also including 0.4m @ 53.27 g/t Au, from
96.2m to 96.6m.Hole PG14-011 Intersected
3.5m @ 17.18 g/t Au, from 152.5m to 156.0m,
Including 1.6m @ 33.80 g/t Au, from 154.4m to
156.0m.
Shane Williams, President and CEO, stated, “What
was once considered a somewhat broad, intermediate-grade portion of
the satellite resource inventory at Madsen, Fork has now been
re-envisioned as a high-grade near-mine resource expansion target
that will be a top priority for the exploration team in 2025. The
shallow nature of this target will allow for rapid advancement
through surface definition drilling and, with its proximity to
existing underground development, it's not difficult to see a path
forward for Fork making its way into the production pipeline at
Madsen. This strategy is directly in-line with WRLG’s hub-and-spoke
model for Madsen as we continue to evaluate and advance additional
high-grade gold opportunities within the Red Lake district.”
Plan maps and sections for the historic Fork
drilling results outlined in this release are provided in Figures 1
through 3.
TABLE 1. Significant intercepts (>1 g/t Au) from
historic drilling at Fork Target.
Hole ID |
Target |
From (m) |
To (m) |
Length (m)* |
Au (g/t) |
PDM04-311 |
Fork |
209.50 |
210.50 |
1.00 |
17.42 |
Incl. |
209.50 |
210.00 |
0.50 |
12.45 |
PDM04-312 |
Fork |
213.00 |
216.00 |
3.00 |
5.49 |
Incl. |
214.50 |
215.00 |
0.50 |
12.15 |
PDM04-313 |
Fork |
196.90 |
198.10 |
1.20 |
13.32 |
PDM04-315 |
Fork |
221.30 |
221.80 |
0.50 |
2.06 |
PDM04-318 |
Fork |
128.10 |
137.40 |
9.30 |
8.14 |
Incl. |
128.10 |
128.80 |
0.70 |
85.70 |
Also Incl. |
136.80 |
137.40 |
0.60 |
21.30 |
PG14-006 |
Fork |
85.00 |
86.80 |
1.80 |
14.58 |
Incl. |
85.00 |
86.00 |
1.00 |
22.50 |
PG14-011 |
Fork |
152.50 |
156.00 |
3.50 |
17.18 |
Incl. |
154.40 |
156.00 |
1.60 |
33.80 |
PG15-037 |
Fork |
133.90 |
146.00 |
12.10 |
3.85 |
Incl. |
133.90 |
135.50 |
1.60 |
8.54 |
Also Incl. |
143.50 |
144.50 |
1.00 |
8.89 |
RUM-07-21 |
Fork |
209.00 |
211.00 |
2.00 |
7.51 |
Incl. |
210.00 |
211.00 |
1.00 |
13.00 |
RUM-07-26 |
Fork |
196.00 |
197.00 |
1.00 |
8.71 |
RUM-07-38 |
Fork |
243.00 |
244.00 |
1.00 |
12.04 |
RUM-08-46 |
Fork |
134.72 |
138.70 |
3.98 |
7.93 |
Incl. |
137.10 |
138.70 |
1.60 |
18.48 |
RUM-08-49 |
Fork |
107.65 |
120.70 |
13.05 |
13.97 |
Incl. |
110.37 |
114.00 |
3.63 |
30.79 |
Also Incl. |
118.73 |
120.70 |
1.97 |
32.55 |
RUM-08-66 |
Fork |
119.00 |
120.49 |
1.49 |
21.27 |
Incl. |
119.75 |
120.00 |
0.25 |
125.19 |
RUM-08-68 |
Fork |
95.70 |
97.00 |
1.30 |
50.48 |
Incl. |
95.80 |
96.00 |
0.20 |
169.09 |
Also Incl. |
96.20 |
96.60 |
0.40 |
53.27 |
RUM-08-74 |
Fork |
132.00 |
134.19 |
2.19 |
3.58 |
RUM-08-75 |
Fork |
190.45 |
195.38 |
4.93 |
3.84 |
Incl. |
194.40 |
195.38 |
0.98 |
10.46 |
RUM-08-86 |
Fork |
70.13 |
72.00 |
1.87 |
1.97 |
RUM-09-98 |
Fork |
226.78 |
228.44 |
1.66 |
5.75 |
|
|
|
|
|
|
*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. 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 |
PDM04-311 |
Fork |
434672 |
5645517 |
381 |
390.00 |
255 |
-45 |
PDM04-312 |
Fork |
434672 |
5645517 |
381 |
275.00 |
259 |
-49 |
PDM04-313 |
Fork |
434663 |
5645539 |
381 |
245.00 |
267 |
-50 |
PDM04-315 |
Fork |
434663 |
5645539 |
381 |
312.00 |
258 |
-55 |
PDM04-318 |
Fork |
434614 |
5645510 |
382 |
239.00 |
262 |
-44 |
PG14-006 |
Fork |
434530 |
5645625 |
384 |
306.00 |
92 |
-76 |
PG14-011 |
Fork |
434580 |
5645445 |
379 |
363.00 |
241 |
-49 |
PG15-037 |
Fork |
434378 |
5645399 |
380 |
225.00 |
105 |
-48 |
RUM-07-21 |
Fork |
434675 |
5645524 |
380 |
679.88 |
270 |
-50 |
RUM-07-26 |
Fork |
434651 |
5645459 |
378 |
494.90 |
274 |
-50 |
RUM-07-38 |
Fork |
434676 |
5645399 |
377 |
432.00 |
270 |
-50 |
RUM-08-46 |
Fork |
434623 |
5645592 |
382 |
388.26 |
268 |
-59 |
RUM-08-49 |
Fork |
434645 |
5645639 |
378 |
405.00 |
265 |
-58 |
RUM-08-66 |
Fork |
434594 |
5645559 |
385 |
231.00 |
270 |
-65 |
RUM-08-68 |
Fork |
434578 |
5645442 |
378 |
264.00 |
280 |
-45 |
RUM-08-74 |
Fork |
434578 |
5645442 |
378 |
219.83 |
245 |
-58 |
RUM-08-75 |
Fork |
434586 |
5645269 |
380 |
276.00 |
310 |
-45 |
RUM-08-86 |
Fork |
434584 |
5645585 |
381 |
240.00 |
270 |
-45 |
RUM-09-98 |
Fork |
434582 |
5645253 |
380 |
375.00 |
300 |
-52 |
|
|
|
|
|
|
|
|
DISCUSSION:
The Fork deposit lies within two concordant
shear zones spaced 100-150 m apart. These structures strike
north-north-easterly and dip about -60°. The upper lens is known as
the Main Zone and occurs along a shear zone that is continuous to
the southwest with the shear zone that hosts the DV and CK Zones.
The distribution of gold within this shear zone is controlled by
the intersection with the contacts of minor ultramafic sills and
iron formation units within the basalt.
The lower lens has been referred to as the Fork
Footwall Zone (and it occurs within the Russet Lake Shear Zone
(Baker, 2017). Here the Russet Lake Shear Zone is wholly within
ultramafic volcanic rocks of the Russet Lake Ultramafic and gold
mineralization is interpreted to be associated with the
intersection of the shear with internal flow contacts.
Significantly, the Fork Footwall Zone occurs within the same
structural/stratigraphic position as the 8 Zone which occurs about
1.8 km down plunge to the northeast.
A third resource domain (North-South Domain) has
been modeled between the Fork Footwall Zone and Fork Main Zone. It
is not clear geologically how this relates to the modeled
structures but may be a short second-order splay.
The Fork deposit is cut by late, discordant
felsic, intermediate, and mafic dikes as in the mine. The
mineralized body is curvilinear and is weakly folded by steeply
southeast plunging F2 folds. Gold is predominantly associated with
deformed quartz veins hosted within an envelope of highly strained
and hydrothermally altered rock controlled by shear zones that
developed oblique to the host volcanic stratigraphy. Less commonly,
gold is found in replacement-style disseminations within altered
basalt along and proximal to contacts with interflow iron formation
or ultramafic sills. Geochemically, altered rocks at the Fork
deposit are sodium-depleted as at the Madsen deposit. The Fork
deposit has been drill tested over a 600 m strike length and to a
vertical extent of 375 m depth. The mineralized zones are typically
1 m to 5 m thick. The deposit is located approximately 350 m from
existing underground development in the West Ramp.
The Fork Footwall target is the sparsely drilled
southwestern extension of the Fork Footwall Zone that particularly
targets the intersection of the host Russet Lake Shear Zone
structure with the Russet Lake ultramafic and overlying Balmer
basalt contact. This 300 m long target has been tested by 11 drill
holes and remains an active target.
High resolution versions of all the figures contained in this
press release can be found at the following web address:
https://westredlakegold.com/december-10th-news-release-maps/
FIGURE 1. Regional Targeting Map for
Madsen Surface Exploration Program.
FIGURE 2. Regional Long Section Showing
Location of High-Grade Fork Zone Relative to Madsen and Regional
Targets.
FIGURE 3. Fork Vein Long Section Showing
High-Grade Historic Intercepts from Drilling Completed Between 2004
and 2015.QUALITY ASSURANCE/QUALITY
CONTROL
Exploration drilling completed on surface at the
Madsen Mine consists of oriented NQ-sized diamond drill core. 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 > 10 g/t Au are reanalyzed by fire
assay with a gravimetric finish on a 50g sample (SGS Code
GO_FAG50V). Samples with visible gold or returning gold values >
30 g/t Au 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 and an Inferred resource of 0.37
Moz of gold grading 6.3 g/t Au. Mineral resources are estimated at
a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. 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 (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 www.sedarplus.ca.
The technical information presented in this news
release has been reviewed and approved by Will Robinson, P.Geo.,
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
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:
Freddie LeighTel: (604) 609-6132Email: investors@wrgold.com or
visit the Company’s website at https://www.westredlakegold.com
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;
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
plans for the potential restart of mining operations at the Madsen
Mine, the potential of the Madsen Mine; any untapped growth
potential in the Madsen deposit or Rowan deposit; timing of
pre-feasibility study 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
November 30, 2023, and the Company’s annual information form for
the year ended November 30, 2023, copies of which are available on
SEDAR+ at www.sedarplus.ca.
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 www.sedarplus.ca.
Infographics accompanying this announcement are available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d43b1b4-0e8d-4580-88fa-ddf4e5824e03https://www.globenewswire.com/NewsRoom/AttachmentNg/35301ea4-001a-49c0-a4a1-8ad8383bba2dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/2f4e7cc2-60b8-4e6f-9ddc-2df165f5c043https://www.globenewswire.com/NewsRoom/AttachmentNg/7ac45b89-39a9-40f0-a419-dcf4bbae8712
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