West Red Lake Gold Mines reports successful test mining, bulk sample program, and increased resource potential.
From GlobeNewswire: 2025-06-03 03:30:00
West Red Lake Gold Mines Ltd. reports successful test mining and bulk sample program at Madsen Mine in Ontario, leading to more efficient mine plan with larger stopes and lower costs. Results show close reconciliation between expected and actual tons, grade, and ounces, validating mining ability. Test mining demonstrated efficiency of mining larger stopes and clusters, reducing barriers in stope design and unlocking resource potential. Definition drilling helps identify high-grade gold lenses, influencing mine design. Higher gold price used in mine design lowers cutoff grade, including more resource tons for planning. Larger stopes and mining complexes can increase economic benefits and efficiency at Madsen Mine. The Madsen Mine PFS reveals a probable reserve of 478,000 ounces of gold in 1.87 million tonnes with a grade of 8.2 g/t mined in 7 years. A total indicated resource of 1.65 million ounces of gold in 6.9 million tonnes at 7.4 g/t is also noted. The PFS suggests a longer mine life is possible with a higher gold price, impacting profitability positively. The Company’s approach to mining is creating the ability to mine at Madsen according to plan. The management has accepted the resignation of Jasvir Kaloti as Corporate Secretary, with efforts underway to find a suitable replacement.
West Red Lake Gold Mines is focused on advancing the Madsen Gold Mine in Ontario, with a highly prospective land package in the Red Lake district. The company also holds the Rowan Property with past producing gold mines. The technical information in the news release has been reviewed and approved by qualified individuals. Forward-looking information in the release highlights the potential for larger stopes, greater mining efficiencies, and overall project economics, but warns of risks and uncertainties that could impact results. The news article discusses forward-looking information based on the Company’s business objectives and ability to raise capital. Management highlights key factors impacting actual results and warns against placing undue reliance on such information. Readers are advised to review the Company’s disclosure filings for additional information. The forward-looking information is current as of the news release date, with no obligation to update it unless required by law. For more details, investors can access the Company’s filings on SEDAR+.
Read more at GlobeNewswire: West Red Lake Gold Highlights Bulk Sample Learnings