West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the
“Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to
report that a test mining and bulk sample program (the “Program”)
is now underway at the Madsen Mine, adding a key derisking
component to the efforts being made to prepare the mine for a
targeted restart in 2025.
“Data and experience are invaluable in mining,”
said Shane Williams, President and CEO of West Red Lake Gold. “Test
mining will provide data on how best to mine at Madsen, bulk
samples will allow us to compare modeled and actual mine resources,
and the process will give our team another layer of operational
experience. As we continue to push towards restarting the Madsen
Mine in 2025, I am very excited this program is underway.”
Overall Approach
Test mining has already begun. Crews are
currently developing top and bottom access (sills) ahead of long
hole stoping in the Austin 1099/1100 area. The process has already
been informative, and the Company expects to report on stoping
progress in the next mine site update in early October.
The Program is expected to run for four months.
Bulk samples will be batch stockpiled on site. The Company expects
to process these bulk sample stockpiles soon after restarting the
mill.
The test mining and bulk sample program is
designed around three goals.
- To understand,
prior to restart, the best methods to mine safely and efficiently
in the various underground environments at Madsen.
- To inform
mineability decisions for mineralization near old stopes. Historic
stopes are currently wrapped in 2-metre, null-resource buffers that
could potentially be reduced or removed if trial mining
demonstrates these buffer areas are mineable. This represents
potential upside to the overall mineable inventory.
- To create bulk
samples that the Company can batch process on mill startup to
complete reconciliation calculations between expected and actual
tonnes, grade, and ounces of mined material.
The Company chose four target areas in the
Madsen resource that represent the range of mining environments,
average gold grades, definition drilling density, and assumed
mining methods. Trial mining across these variables will inform a
confident and safe plan for mining the high-grade gold resources at
Madsen.
Figure 1: A section view of the Madsen project
with the four target areas for the test mining and bulk sample
program noted. Green shapes are planned stopes, blue lines are
planned sills, red, green and orange lines are future development
of varying sizes, and grey shapes are historic stopes.
The four test mining target areas collectively
host 114,600 tonnes of total material with an average grade of 5.98
grams per tonne gold (g/t Au). The Company expects to bulk sample
approximately 5,000 tonnes from each area in this test mining
program.
Mining will be a mixture of Long Hole Stoping
(LHS) and Mechanized Cut and Fill (MCF).
LHS will be used wherever resource shape and
geometry allow and will ideally include 3-metre by 3-metre overcuts
and undercuts (sills). Maximum level spacing will be 20 metres
vertical. Production drilling will be done with Boart Stopemate
drills; mucking will be completed with a 2.5-yard Scooptram.
MCF will be used in remnant mining areas. MCF
stopes will have a minimum size of 3 metres by 3 metres,
slashed wider in places for selective mining. MCF will be
accomplished with either Long Tom drills or a single-boom Jumbo
combined with a 2-yard Scooptram.
Test Mining Areas
The Company plans to mine, stockpile, and batch
process approximately 5,000 tonnes from each of the four areas
described below as part of the Program.
McVeigh Lenses 1453 and
1406
Lenses 1453 and 1406 are a near-surface part of
the McVeigh resource block. This area has an overall expected
26,300 tonnes at 7.15 g/t gold grade and will be mined exclusively
with LHS. The sill levels are 18 metres vertically spaced, which
leaves 15 metres for stoping.
This area was selected to add information to the
resource model in the McVeigh area, which has higher geologic
complexity than other parts of the Madsen resource, and to bulk
sample a higher-grade part of the resource.
South Austin Lens 1155
The 1155 mining area is near the midpoint of the
current mine, approximately 400 metres vertical below surface. This
area has an overall expected 73,300 tonnes at 5.66 g/t gold grade.
This complex is a fresh mining area with no historical workings and
will be mined via LHS.
This test area will confirm geological modelling
practices and the reliability of the sill engineering process.
Drilling is currently ongoing in this area; results are expected to
refine the total targeted tonnes and grade before test mining
begins.
Austin Lens 1099/1100
The Austin Lens 1099/1100 is in an area of
remnant mining. It has an overall expected 6,700 tonnes at
5.39 g/t gold grade. This area will be mined with a mixture of MCF
and LHS.
This area will be test-mined to establish
remnant mining procedures, partly by confirming the geotechnical
competence of historical backfill, and to confirm historical
data.
Figure 2: An orthogonal view of the Austin
1099/1100 mining area showing planned sills (blue), stopes (light
green), and access (dark green).
South Austin Lenses 1136 and
1148
This test mining area has an overall expected
8,300 tonnes at 5.60 g/t gold grade.
This area is being targeted to determine the
accuracy of previous resource models and drilled areas, including
understanding how best to assess sills that previous operators
started in this area but did not complete.
QUALIFIED PERSON
The technical information presented in this news
release has been reviewed and approved by Maurice Mostert, P.Eng.,
Vice President of Technical Services for West Red Lake Gold and the
Qualified Person for Reserves at the West Red Lake Project, as
defined by National Instrument 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:
Investor Relations
Tel: (604) 609-6132
Email: investors@wrlgold.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.
CAUTIONARY STATEMENT AND FORWARD-LOOKING
INFORMATION
The decision to continue with the advancement of
the Madsen Mine restart and the Company’s operations and plans with
respect thereto, as described herein (the “Madsen Mine Restart”),
are based on economic models prepared by the Company in conjunction
with management’s knowledge of the property and the existing
estimate of indicated and inferred mineral resources on the
property set out in the report entitled, “Independent NI 43-101
Technical Report and Updated Mineral Resource Estimate for the
PureGold Mine, Canada,” with an effective date of July 31, 2022, as
amended on April 24, 2024, a copy of which is available on SEDAR+
at www.sedarplus.ca. The Madsen Mine Restart is not based on a
preliminary economic assessment, a pre-feasibility study or a
feasibility study of mineral reserves demonstrating economic and
technical viability. Accordingly, there is increased uncertainty
and economic and technical risks of failure associated with the
Madsen Mine Restart, in particular: the risk that mineral grades
will be lower than expected; the risk that additional ongoing
mining operations are more difficult or more expensive than
expected; and the risk that production and economic variables may
vary considerably, due to the absence of a detailed economic and
technical analysis undertaken in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
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; 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d75b5f1a-bdea-4e93-b3b3-5818e68e34d1
https://www.globenewswire.com/NewsRoom/AttachmentNg/f714b684-3bfb-41d9-8fc1-1949494c10be
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