From GlobeNewswire: 2025-01-20 03:30:00

West Red Lake Gold Mines Ltd. reports high-grade drill results from the McVeigh Zone at the Madsen Mine in Ontario, Canada. The zone has an Indicated resource of 79,800 oz at 6.4 g/t Au and an Inferred resource of 14,300 oz at 6.9 g/t Au. The drilling aims to support the mine’s production restart in 2025.

Recent drilling at the McVeigh Zone yielded significant intercepts, including 3.85m @ 45.70 g/t Au and 3m @ 50.99 g/t Au. The Company’s CEO, Shane Williams, highlights the ongoing success of drilling activities in intercepting high-grade gold mineralization in preparation for the mine restart. The McVeigh zone is a key focus area for early mining phases.

The drill results indicate a shallow and easily accessible portion of the Madsen deposit with high-grade gold mineralization. The Company’s detailed drilling efforts and enhanced geological understanding will contribute to a robust mine plan with reduced dilution during mining. Plan maps and sections for the drilling are provided in the release.

The McVeigh zone’s gold mineralization is visually identified through fine grains of free gold within strong alteration and veining. The mineralization is early relative to significant deformation and metamorphism events on the property. The North Austin Zone, with multiple mineralized domains, remains open at depth and along strike. Visible gold has been identified in high-grade intervals at the Madsen Mine, with indicators such as silicification, quartz veining, and veining with carbonate or diopside. The drilling program focuses on defining mining inventory and expanding mineral resources in specific zones until 2025. Figures of drill sections and assay highlights are available online for reference.

Drilling at Madsen Mine uses BQ-sized diamond drill core for definition programs and oriented NQ-sized core for exploration. Samples are systematically logged, photographed, and sampled, with quality control measures like certified standards and blanks. Samples are processed at SGS Natural Resource’s Facility for assay, including fire assay and multi-element analysis. The deposit hosts 1.65 Moz of gold in Indicated resources and 0.37 Moz in Inferred resources.

For more information and detailed figures, visit the provided web address to access high-resolution versions of the figures in the press release. The Madsen Resource Estimate, based on NI 43-101 standards, outlines the current gold resources at the Madsen Mine, with specific details on grading and cut-off grades for economic viability. The technical report by SRK Consulting provides a comprehensive overview of the mineral resource estimates at the mine. West Red Lake Gold Mines has released the full Madsen Report on their website and SEDAR+. The company, focused on the Red Lake district in Ontario, aims to advance the Madsen Gold Mine. The highly prospective land package in the area has yielded over 30 million ounces of gold. West Red Lake Gold Mines also holds the Rowan Property, covering three past producing gold mines. The technical information in the report has been reviewed and approved by the Vice President of Exploration. Investors can find more information on the company’s website. 1. The stock market rallied today, with the S&P 500 closing at a record high of 4,500 points. This was driven by strong earnings reports from tech giants like Apple and Google, along with positive economic data showing a decrease in unemployment rates.

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2. In economic news, the unemployment rate has dropped to a record low of 3.8%. This marks the lowest level of unemployment in over a decade and indicates a strong job market. Economists attribute the decrease to a rise in job creation and overall economic growth.

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2. The CDC reports that the number of vaping-related illnesses has reached 1,888 cases across 49 states. The agency is urging the public to avoid using e-cigarettes until the cause of the illnesses is identified.

3. In economic news, the unemployment rate in the US has dropped to 3.5%, the lowest it’s been in 50 years. The Labor Department also reported that employers added 136,000 jobs in September, slightly below expectations.



Read more at GlobeNewswire: West Red Lake Gold Intersects 45.70 g/t Au over 3.85m,