West Red Lake Gold Accelerates Definition Drill Program at North Austin
April 9, 2024
Vancouver, BC
West Red Lake Gold Accelerates Definition Drill
Program at North Austin
West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:
WRLG) (OTCQB: WRLGF) is pleased to announce the arrival of a second underground diamond
drill at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern
Ontario, Canada.
In response to the recent drilling success at the newly defined North Austin zone, a second
diamond drill has been added at Madsen to continue growing and de -risking this high -priority,
near-mine resource area.
Based on positive results from recent underground drilling programs at Madsen, two near-mine
expansion areas - North and South Austin - have been prioritized for immediate expansion and
infill drilling (Figures 1 & 2) . The two focus areas sit adjacent to existing underground
development marking them both as high caliber targets that could potentially be developed early
during future mine restart and production. It’s important to note that successful drilling in these
areas is expected to add growth to the existing Madsen resource, bringing new ounces onto the
books in areas not previously mined.
Shane Williams, President & CEO, stated, “The addition of a second underground drill at Madsen
will expedite our efforts in de-risking the resource and building a runway of high -confidence
mineable inventory that will be critical during restart of mining operations. The North and South
Austin Zones have already demonstrated potential for grade and continuity and our team looks
forward to continuing to advance these two high- priority areas simultaneously with the
underground drilling program.”
Previously announced highlights on the North and South Austin drilling can be viewed at the
following links:
• West Red Lake Gold Intersects 27.15 g/t Au over 10.28m and 22.31g/t Au over 8.5m at
North Austin Zone – Madsen Mine ( November 21, 2023)
• West Red Lake Gold Intersects 47.44 g/t Au over 3.2m, 21.64 g/t Au over 7m and 296.83
g/t Au over 1m at South Austin Zone – Madsen Mine ( December 5, 2023)
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• West Red Lake Gold Intersects 9.15 g/t Au over 3.3m and 10.66 g/t Au over 2.6m at North
Austin Zone – Madsen Mine ( February 7, 2024)
• West Red Lake Gold Intersects 25.12 g/t Au over 5.5m, 39.46 g/t Au over 2m and 18.60
g/t Au over 4m at South Austin Zone – Madsen Mine ( March 4, 2024)
Since underground drilling resumed in early January 2024 the Company has completed 3,671 m
of Expansion drilling and 2,916m of Definition drilling. In total, 65 diamond drill holes for 6,587m
have been completed so far in 2024 at the Madsen Mine.
FIGURE 1. Deposit-scale plan map of Madsen Mine highlighting North and South Austin Zones.
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FIGURE 2. Madsen Mine long section showing location of North and South Austin growth areas and recent drilling highlights.[1]
[1] 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 by SRK Consulting (Canada) Inc. and dated June 16, 2023. A full
copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
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QUALITY ASSURANCE/QUALITY CONTROL
Drilling completed underground at the Madsen Mine consists of BQ-sized diamond drill core for
definition drill programs and oriented NQ -sized diamond drill core for exploration focused
drilling. 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 an alyzed by fire
assay and an atomic absorption spectroscopy (AAS) finish (SGS Code GO -FAA50V10). Samples
returning gold values > 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50g
sample (SGS Code GO_FAG50V). Samples with visible gold 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 (“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/o z. 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”, prep ared by SRK Consulting (Canada) Inc. and dated June 16, 2023. 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 updated report. A full copy of
the SRK 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 4 3-101 “Standards of
Disclosure for Mineral Projects”.
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MARKETING CAMPAIGN SERVICE AGREEMENT
The Company has entered into a service agreement with Native Ads , Inc. (“Native Ads”) dated
March 28, 2024, pursuant to which Native Ads will provide a marketing campaign for a total
retainer of up to US$150,000, with a term of up to twenty four months or until the retainer is
depleted. Under the agreement, Native Ads will execute a comprehensive digital media
advertising campaign for the Company , where approximately 75% of the campaign budget will
be allocated to cost per click costs, media buying and content distribution, and search engine
marketing. The remaining budget will be allocated for content creatio n, web development,
advertising creative development, search engine optimization, campaign optimization, and
reporting and data insights services. Native Ads is a full-service advertising agency based out of
New York and Vancouver, BC. Native Ads and its principal Jon Malach are arms length to the
Company and hold no interest, directly or indirectly, in the securities of the Company or any right
to acquire such an interest. The engagement of Native Ads is subject to the approval of the TSX
Venture Exchange.
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 k m2
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 k m2
including three past producing gold mines - Rowan, Mount Jamie, and Red Summit.
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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: [email protected] 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 the potential of the Madsen
Mine; any untapped growth potential in the Madsen depositor; the Company’s intention to establish additional
drilling platforms; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance
on forward-looking information.
F
orward
-l
ooking 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
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, 2022, copies of which are available on SEDAR+ at
www.sedarplus.ca.
T
he 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
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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.