WEST RED LAKE GOLD MINES (via TheNewswire)
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“We hit some high-grade intercepts, with visible gold showings,”
“We planned this program so that we could be nimble, stay fluid,” continued Robinson. “We’re not just drilling a station, moving off it, and waiting for the results. We’re focused on maximising exploration dollars and building high confidence ounces, in preparation for our plan to restart the
The company’s flagship asset -
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Thisasset was once valued at over a billion dollars, about 8X the current market cap of WRLG. There is smart money heavily invested in the current project -
Hole MM24D-12-4640-012 Intersected 5.5m @ 25.12 g/t Au, from 24.0m to 29.5m, Including 1.0m @ 134.90 g/t Au, from 25.0m to 26.0m.
Hole MM24D-12-4640-008 Intersected 3.0m @ 12.58 g/t Au, from 45.0m to 48.0m, Including 1m @ 37.40 g/t Au, from 45.0m to 46.0m; And 2.0m @ 39.46 g/t Au, from 64.0m to 66.0m, Including 1.0m @ 76.18 g/t Au, from 64.0m to 65.0m.
Hole MM24D-12-4640-018 Intersected 4.0m @ 18.60 g/t Au, from 41.0m to 45.0m, Including 1.0m @ 55.69 g/t Au, from 43.0m to 44.0m.
Hole MM24D-12-4640-003 Intersected 11.0m @ 6.75 g/t Au, from 47.0m to 58.0m, Including 1.0m @ 17.01 g/t Au, from 47.0m to 48.0m, Also including 1.0m @ 10.52 g/t Au, from 51.0m to 52.0m; Also Including 0.5m @ 18.68 g/t Au, from 54.0m to 54.5m, Also including 0.5m @ 14.37 g/t Au, from 56.5m to 57.0m.
Hole MM24D-12-4640-021 Intersected 6.45m @ 10.43 g/t Au, from 36.0m to 42.45m, Including 0.75m @ 49.68 g/t Au, from 39.25m to 40.0m.
Hole MM24D-12-4640-019 Intersected 3.0m @ 7.75 g/t Au, from 35.0m to 38.0m, Including 1.0m @ 17.73 g/t Au, from 35.0m to 36.0m.
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“The team has been making great progress de-risking the Madsen deposit with definition drilling as we continue tobuild up an inventory of high-gradeand high-confidence ounces that will prove invaluable during the initial ramping up of mine production,” statedWRLG President & CEO
“The Mine Operations team is working in tandem with geology to ensure the underground drills get to the highest priority areas of the deposit,” continued Williams. “Theexcellent results highlightedin this release are indicative of the upside that still exists at Madsen even within the current life-of-mine resource inventory.”
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The strategy for the Madsen Mine Restart is: 1. De-risk Resources(in-fill and expansion drilling, UG development; 2.Restart Planning(engineering, mill expansion assessment, optimisation; 3.Restart Execution(assembling team, community relations, focus on operability and profitability).
“The previous operator was under-capitalised,” Willams told Bennett. “Debt repayment obligations forced the company into a quick-to-cash-flow mine model that was ultimately expensive and inefficient”.
The profitability of a potential future mine at Madsen will be impacted by the price of gold. Gold is currently at an all time high of USD
There is growing sentiment that the
“Who thinks this is sustainable?”asked WRLG co-founder and shareholder
https://twitter.com/Frank_Giustra/status/1763653676969967759
A long chain of zeros can be difficult to mentally process. Approximately100 million
There is no model, no projection, no blue-sky story that explains how this money can ever be re-paid. If you’ve tried living off your credit cards, you know how this story ends.
Because the debt is based on fiat currency (paper money), it iseasy to manipulate supply,by printing more money.
No act of
In this inflationary environment,investing in hard assets like goldcan be an effective strategy to protect and grow wealth.
One of the key drivers of the bullish gold price momentum is “de-dollarization” by Central governments.
“The World Gold Council reported that central banks bought 1,037 tons of gold in 2023 (worth
“
“We have been focusing drill programs to test gold values in the Austin,
“On
On
On
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Much of the opportunity for growth within the North and
“The purpose of this drilling was definition within
“Based on these observations,additional holes were added to the drill stationto further define these high-grade zones up and down plunge.”
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 . 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 . 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
Contact:guy.bennett@globalstocksnews.com
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