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The announcement of a projected mine restart date is significant news.
During an aggressive 12-month drill program confirming and extending multiple high-grade zones at the
“Shane Williams and
“The Vancouver gold company intends to take a methodical approach to set things right and deep dive into the deposit before resuming production at the shuttered underground mine.”
“It’s 18 to 24 months before we even think about switching the thing back on,” WRLG CEO
“Our CEO
There are mining CEOs who specialise in project-generation, mergers, off-take agreements and greenfield exploration.
Williams’ specific expertise is moving mineral assets along the development chain into production, on schedule and on budget. He has designed, built and operated mines (open pit and underground) in
WRLG is currently working ona pre-feasibility studydetailing the restart plan. This study is targeted for release in early 2025.
Mine Restart Projects Underway or Imminent:
Connection Drift:1,200-meter haulage way to connect the East and West portals/declines to enable bigger trucks, more efficient routings, and better ventilation and to eliminate surface trucking restrictions by moving mineralization underground.
Primary Crusher:Install a permanent primary crusher as part of the
Madsen mill, which previously relied on a temporary leased crusher.Test Mining:Initiate a test mining program to assess longhole stoping and cut-and-fill mining methods on the range of mining environments at
Madsen . This will be an essential step in further de-risking the asset.Bulk Sample:Analyze samples from the test mining program through a sample tower to determine representative grade of a bulk sample.
Camp:Procure and install a mine camp to house 100 workers at the
Madsen mine site.Mine Dry :Procure, install, and staff a facility with showers, change areas, and laundry where workers can transition into and out of work shifts.Evaporators:Install two (2) evaporator fans with the ability to manage 2,000 cubic meters of water daily, to increase overall water management capacity at the mine site.
Shaft Rehabilitation:Continue the process of dewatering the mine and rehabilitating the existing shaft, which is now certified to move people for the purpose of inspecting shaft conditions.
For the remainder of 2024 WRLG plans to have two diamond drills operating regularly in a program totaling up to 39,000 meters, with two primary objectives:
Resource Definition Drilling: (70%) of the drilling (approximately 27,000 meters) will be used to increase resource confidence across all known resource domains (
Austin ,North Austin ,South Austin , and McVeigh)Resource Expansion Drilling:(30%) of the drilling (approximately 12,000 meters) will test the Company’s top targets including
Austin extension and the 8 Zone down plunge extension target
“We are keen to continue building confidence in the
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Six days after the mine restart announcement, on
The purpose of this drilling was definition within
HIGHLIGHTS:
Hole MM24D-09-4068-012Intersected8m @ 16.69 g/t Au, from 73m to 81m, Including1m @ 127.98 g/t Au, from 78m to 79m
Hole MM24D-09-4068-009Intersected17.83m @ 6.17 g/t Au, from 69.00m to 86.83m, Including1m @ 30.05 g/t Au, from 69m to 70m
Hole MM24D-09-4068-010Intersected12m @ 7.48 g/t Au, from 79m to 91m, Including1m @ 73.56 g/t Au, from 80m to 81m
Hole MM24D-07-4198-012Intersected3.1m @ 21.33 g/t Au, from 83.9m to 87.0m, Including0.5m @ 32.74 g/t Au, from 85.5m to 86.0m
Hole MM24D-09-4068-009Intersected2.48m @ 25.77 g/t Au, from 22.00m to 24.48m, Including0.98m @ 64.35 g/t Au, from 23.50m to 24.48m.
Hole MM24D-07-4198-009Intersected9m @ 6.75 g/t Au, from 103m to 112m, Including0.9m @ 27.91 g/t Au, from 104.0m to 104.9m
Hole MM24D-09-4068-006Intersected2.5m @ 17.54 g/t Au, from 21.0m to 23.5m, Including1m @ 43.63 g/t Au, from 22m to 23m.
The drilling extended parts of
“We are encouraged by the verybroad interceptsof mineralizationaveraging above 6 grams per tonne gold, which are accentuated by a number of very high-grade intervals,” stated Williams. “The new mineralized lens the team is defining footwall to
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“Typically, gold prices are linked to
“A global monetary system reset appears to be in progress, with a growing list of nations exploring options beyond the
“The established financial world order of the past 50 years is now transitioning to a new and unknown paradigm as the petrodollar agreement between the
“I'm sure
“With a year of work under our belts at
Contact:guy.bennett@globalstocksnews.com
Disclaimer: West Red Lake Gold paid GSN
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References:
SRK Consulting . (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for thePureGold Mine ,Canada (West Red Lake Gold Mines , Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for thePureGold Mine ,Canada .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 “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the
PureGold Mine , Canada”, prepared bySRK Consulting (Canada) Inc. , and datedJune 16, 2023 , and amendedApril 24, 2024 . A full copy of the SRK report is available on the Company’s website and on SEDAR+ atwww.sedarplus.caMineral 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 bySRK Consulting (Canada) Inc. , and datedJune 16, 2023 , and amendedApril 24, 2024 . The Madsen Resource Estimate has an effective date ofDecember 31, 2021 and excludes depletion of mining activity during the period fromJanuary 1, 2022 to the mine closure onOctober 24, 2022 as it has been deemed immaterial and not relevant for the purpose of the updated report. A full copy of the SRK report is available on the Company’s website and on SEDAR+ atwww.sedarplus.ca
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