West Red Lake Gold Intersects 54.19 g/t Au over 4m and 23.73 g/t Au over 3.53m at Austin – Madsen Mine

West Red Lake Gold Mines Ltd.

Tue, Sep 10, 2024, 12:30 AM 22 min read

VANCOUVER, British Columbia, Sept. 10, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

The drill results featured in this news release are focused on the high-grade Austin Zone. The Austin Zone currently contains an Indicated mineral resource of 914,200 ounces (“oz”) grading 6.9 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 104,900 oz grading 6.5 g/t Au.

The purpose of this drilling was definition within priority areas of Austin to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen mine, which is expected to commence in H2 2025. The Company expects to complete a pre-feasibility study in support of that restart goal in the coming months.

AUSTIN ZONE HIGHLIGHTS:

Hole MM24D-12-4791-020 Intersected 4m @ 54.19 g/t Au, from 32m to 36m, Including 1m @ 215.61 g/t Au, from 33m to 34m.
Hole MM24D-12-4791-026 Intersected 3.53m @ 23.73 g/t Au, from 27.50m to 31.03m, Including 1m @ 79.81 g/t Au, from 30.03m to 31.03m.
Hole MM24D-12-4791-023 Intersected 3m @ 24.49 g/t Au, from 32m to 35m, Including 1m @ 71.02 g/t Au, from 33m to 34m; AND
Hole MM24D-12-4791-041 Intersected 6m @ 11.65 g/t Au, from 35m to 41m, Including 1m @ 10.86 g/t Au, from 36m to 37m, Also including 1.05m @ 47.27 g/t Au, from 39.95m to 41.00m.
Hole MM24D-12-4791-035 Intersected 3.2m @ 15.84 g/t Au, from 38.8m to 42.0m, Including 2m @ 24.32 g/t Au, from 39.4m to 41.4m.
Hole MM24D-12-4791-002 Intersected 4.8m @ 9.95 g/t Au, from 26.2m to 31.0m, Including 0.87m @ 10.47 g/t Au, from 26.20m to 27.07m, Also including 0.52m @ 43.08 g/t Au, from 29.82m to 30.34m.
Hole MM24D-12-4791-023 also Intersected 3.15m @ 15.06 g/t Au, from 20.35m to 23.50m, Including 0.88m @ 22.62 g/t Au, from 21.12m to 22.00m, Also including 0.98m @ 20.20 g/t Au, from 22.52m to 23.50m.

Shane Williams, President & CEO, stated, “The deeper portions of the Austin Zone are continuing to return very positive results as we advance the infill drilling programs and increase our confidence in these areas of the mine. Due to limited underground development, the two previous operators were only able to access portions of the Madsen deposit down to around 9 level. We are very excited to continue accessing deeper portions of the deposit which were historically mined during a period when gold was only valued at $20-40 per ounce. This resulted in very selective mining practices targeting just the core of the system that left behind a lot of mineralization that would be considered high grade by current standards. With gold prices now in excess of US $2,500/oz we are taking full advantage of that remnant material and see a lot of upside at depth in Madsen.”

Plan maps and section for the Austin drilling outlined in this release are provided in Figures 1 through 10. To see these drill holes in the context of a 3-dimensional model of the Madsen project mineral resource, click here. https://vrify.com/decks/16834?auth=fa5e3754-1ad2-440b-b5cc-fcfee08d8175

TABLE 1. Significant intercepts (>3 g/t Au) from drilling at Austin Zone.

Hole ID	Target	From (m)	To (m)	Length (m)*	Au (g/t)
MM24D-12-4791-001	Austin	No Assays > 3 g/t Au
MM24D-12-4791-002	Austin	26.20	31.00	4.80	9.95
Incl.		26.20	27.07	0.87	10.47
Also Incl.		29.82	30.34	0.52	43.08
AND	Austin	37.50	40.00	2.50	3.65
MM24D-12-4791-003	Austin	24.34	29.50	5.16	5.65
Incl.	Austin	28.00	28.83	0.83	17.54
AND	Austin	35.18	38.00	2.82	4.73
MM24D-12-4791-004	Austin	22.29	23.29	1.00	4.43
AND	Austin	24.93	25.71	0.78	3.41
AND	Austin	26.50	27.50	1.00	4.82
MM24D-12-4791-005	Austin	26.00	30.00	4.00	4.45
AND	Austin	33.00	34.00	1.00	3.06
AND	Austin	38.19	39.19	1.00	10.70
MM24D-12-4791-006	Austin	23.58	24.10	0.52	3.28
AND	Austin	26.10	26.63	0.53	9.66
AND	Austin	30.64	31.50	0.86	4.56
MM24D-12-4791-007	Austin	27.70	28.50	0.80	5.37
MM24D-12-4791-008	Austin	43.07	46.00	2.93	8.44
Incl.	Austin	44.00	45.00	1.00	18.13
AND	Austin	51.00	51.80	0.80	6.74
MM24D-12-4791-009	Austin	20.58	22.06	1.48	3.98
AND	Austin	25.00	28.65	3.65	5.74
Incl.	Austin	27.25	28.00	0.75	20.02
MM24D-12-4791-010	Austin	No Assays > 3 g/t Au
MM24D-12-4791-011	Austin	No Assays > 3 g/t Au
MM24D-12-4791-012	Austin	23.82	24.50	0.68	5.48
MM24D-12-4791-013	Austin	44.55	46.50	1.95	4.91
MM24D-12-4791-014	Austin	No Assays > 3 g/t Au
MM24D-12-4791-015	Austin	20.68	22.00	1.32	3.72
MM24D-12-4791-016	Austin	No Assays > 3 g/t Au
MM24D-12-4791-017	Austin	18.45	22.00	3.55	5.83
MM24D-12-4791-018	Austin	23.10	29.00	5.90	3.62
MM24D-12-4791-019	Austin	21.82	24.00	2.18	9.15
Incl.	Austin	21.82	23.00	1.18	15.80
MM24D-12-4791-020	Austin	20.00	22.92	2.92	7.70
Incl.	Austin	21.46	21.96	0.50	40.74
AND	Austin	32.00	36.00	4.00	54.19
Incl.	Austin	33.00	34.00	1.00	215.61
MM24D-12-4791-021	Austin	30.00	33.22	3.22	7.92
Incl.	Austin	30.00	30.50	0.50	21.38
AND	Austin	35.00	37.50	2.50	3.47
MM24D-12-4791-022	Austin	26.00	28.70	2.70	5.13
Incl.	Austin	27.43	28.00	0.57	15.04
MM24D-12-4791-023	Austin	20.35	23.50	3.15	15.06
Incl.		21.12	22.00	0.88	22.62
Also Incl.		22.52	23.50	0.98	20.20
AND	Austin	32.00	35.00	3.00	24.49
Incl.	Austin	33.00	34.00	1.00	71.02
MM24D-12-4791-024	Austin	48.80	51.00	2.20	8.01
Incl.	Austin	49.77	50.50	0.73	20.54
MM24D-12-4791-025	Austin	41.75	45.25	3.50	8.70
Incl.	Austin	43.25	44.25	1.00	18.82
AND	Austin	48.00	49.00	1.00	3.02
MM24D-12-4791-026	Austin	27.50	31.03	3.53	23.73
Incl.	Austin	30.03	31.03	1.00	79.81
MM24D-12-4791-027	Austin	30.50	36.30	5.80	5.51
Incl.	Austin	34.30	35.30	1.00	15.58
MM24D-12-4791-028	Austin	36.72	41.98	5.26	5.76
Incl.	Austin	40.45	41.98	1.53	10.87
AND	Austin	45.00	48.00	3.00	4.30
MM24D-12-4791-029	Austin	28.00	30.75	2.75	7.81
Incl.	Austin	29.00	30.00	1.00	14.39
AND	Austin	33.00	34.30	1.30	6.90
MM24D-12-4791-030	Austin	No Assays > 3 g/t Au
MM24D-12-4791-031	Austin	30.18	34.04	3.86	3.99
MM24D-12-4791-032	Austin	41.95	44.00	2.05	3.99
MM24D-12-4791-033	Austin	33.65	34.30	0.65	12.67
MM24D-12-4791-034	Austin	32.00	33.04	1.04	4.24
AND	Austin	35.60	38.00	2.40	11.36
Incl.	Austin	35.60	36.31	0.71	37.75
MM24D-12-4791-035	Austin	38.80	42.00	3.20	15.84
Incl.	Austin	39.40	41.40	2.00	24.32
AND	Austin	44.00	46.00	2.00	3.54
MM24D-12-4791-036	Austin	27.00	34.00	7.00	3.76
MM24D-12-4791-037	Austin	30.00	33.47	3.47	3.82
MM24D-12-4791-038	Austin	36.60	38.00	1.40	5.90
MM24D-12-4791-039	Austin	37.15	40.75	3.60	4.68
MM24D-12-4791-040	Austin	36.30	38.50	2.20	5.89
Incl.	Austin	36.30	37.00	0.70	14.55
AND	Austin	44.70	45.20	0.50	3.58
MM24D-12-4791-041	Austin	35.00	41.00	6.00	11.65
Incl.		36.00	37.00	1.00	10.86
Also Incl.		39.95	41.00	1.05	47.27

*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Internal dilution for composite intervals does not exceed 1m for samples grading <0.1 g/t Au.

TABLE 2: Drill collar summary for holes reported in this News Release.

Hole ID	Target	Easting	Northing	Elev (m)	Length (m)	Azimuth	Dip
MM24D-12-4791-001	Austin	435847	5646644	-147	50.6	86	-25
MM24D-12-4791-002	Austin	435847	5646645	-145	83.0	64	27
MM24D-12-4791-003	Austin	435847	5646645	-144	88.8	66	35
MM24D-12-4791-004	Austin	435847	5646645	-145	81.0	73	30
MM24D-12-4791-005	Austin	435847	5646645	-144	95.1	76	40
MM24D-12-4791-006	Austin	435848	5646644	-146	75.2	83	10
MM24D-12-4791-007	Austin	435847	5646643	-146	111.0	93	10
MM24D-12-4791-008	Austin	435847	5646643	-147	100.3	96	-32
MM24D-12-4791-009	Austin	435847	5646643	-144	105.0	98	32
MM24D-12-4791-010	Austin	435847	5646643	-146	102.3	103	10
MM24D-12-4791-011	Austin	435847	5646643	-145	111.0	104	22
MM24D-12-4791-012	Austin	435847	5646643	-144	81.0	105	42
MM24D-12-4791-013	Austin	435847	5646643	-147	90.0	105	-32
MM24D-12-4791-014	Austin	435846	5646643	-147	75.0	113	-32
MM24D-12-4791-015	Austin	435846	5646643	-145	57.0	117	20
MM24D-12-4791-016	Austin	435846	5646643	-144	66.0	120	40
MM24D-12-4791-017	Austin	435846	5646642	-145	60.0	125	29
MM24D-12-4791-018	Austin	435846	5646642	-146	90.0	127	8
MM24D-12-4791-019	Austin	435846	5646642	-145	63.0	130	19
MM24D-12-4791-020	Austin	435846	5646642	-144	72.0	132	37
MM24D-12-4791-021	Austin	435846	5646642	-146	78.0	136	-7
MM24D-12-4791-022	Austin	435846	5646642	-146	84.0	137	7
MM24D-12-4791-023	Austin	435846	5646642	-145	66.0	137	27
MM24D-12-4791-024	Austin	435845	5646642	-147	72.0	140	-28
MM24D-12-4791-025	Austin	435845	5646641	-147	66.0	139	-22
MM24D-12-4791-026	Austin	435845	5646641	-145	63.0	141	17
MM24D-12-4791-027	Austin	435845	5646641	-146	75.0	144	-5
MM24D-12-4791-028	Austin	435845	5646641	-147	66.0	144	-13
MM24D-12-4791-029	Austin	435845	5646641	-146	63.0	146	8
MM24D-12-4791-030	Austin	435845	5646641	-145	75.0	148	25
MM24D-12-4791-031	Austin	435845	5646641	-146	75.0	149	1
MM24D-12-4791-032	Austin	435845	5646641	-147	85.0	150	-15
MM24D-12-4791-033	Austin	435844	5646641	-145	72.0	151	16
MM24D-12-4791-034	Austin	435844	5646641	-146	66.0	153	8
MM24D-12-4791-035	Austin	435844	5646641	-146	69.0	154	-6
MM24D-12-4791-036	Austin	435844	5646641	-145	63.0	155	32
MM24D-12-4791-037	Austin	435844	5646641	-145	72.0	158	23
MM24D-12-4791-038	Austin	435844	5646641	-146	85.0	159	5
MM24D-12-4791-039	Austin	435844	5646640	-145	63.0	166	14
MM24D-12-4791-040	Austin	435844	5646640	-145	75.0	170	19
MM24D-12-4791-041	Austin	435844	5646641	-145	63.0	170	26

DISCUSSION

The Austin zone is accessed through the Madsen Mine West Portal. Like the other mineralized domains that comprise the Madsen Mine, the Austin structures are hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism.

At the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are locally folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. In addition to this intense deformation overprint, the mineralized veins and alteration have been subjected to the relatively high temperatures of amphibolite facies metamorphism, which led to extensive recrystallization and growth of the skarn-like replacement mineral assemblage of diopside-amphibole-quartz-biotite.

All significant gold mineralization on the mine property is demonstrably early relative to the most significant, penetrative deformation (D2) and metamorphic events. The North Austin Zone displays ‘mine-style’ alteration and mineralization and consists of multiple mineralized domains defined over a strike length of 0.5km. Mineralization remains open at depth and along strike to the northeast.

In drill core, or at underground face exposures, gold-bearing zones at the Madsen Mine are best identified visually by fine (sub-millimetre) grains of free gold within strong alteration and veining. All high-grade intervals generally contain visible gold on drill core exteriors, although numerous examples exist of high-grade assays where visible gold was only identified within the interior (cut surface) of the core samples. Apart from the presence of free gold, pervasive silicification (locally accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the best indicators that a given interval is within a high-grade zone along/within the mineralized structure.

The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. Drilling has been focused on the more continuous and higher-grade portions of the Austin, South Austin, North Austin and McVeigh Zones. This will continue to be the strategy through 2024.

High resolution versions of all the figures contained in this press release can be found at the following web address: https://westredlakegold.com/september-10th-news-release-maps/

FIGURE 1. Madsen Mine long section showing location of 12-4791 Drill Bay in Austin Zone.^[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, and amended April 24, 2024. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.

FIGURE 2. Austin plan view drill section showing assay highlights for Holes MM24D-12-4791-001 through -041.^[1]

FIGURE 3. Austin section view showing assay highlights for Holes MM24D-12-4791-039 through -041.^[1]

FIGURE 4. Austin section view showing assay highlights for Holes MM24D-12-4791-034 through -038.^[1]

FIGURE 5. Austin section view showing assay highlights for Holes MM24D-12-4791-029 through -033.^[1]

FIGURE 6. Austin section view showing assay highlights for Holes MM24D-12-4791-023 through -028.^[1]

FIGURE 7. Austin section view showing assay highlights for Holes MM24D-12-4791-019 through -022.^[1]

FIGURE 8. Austin section view showing assay highlights for Holes MM24D-12-4791-015 through -018.^[1]

FIGURE 9. Austin section view showing assay highlights for Holes MM24D-12-4791-07 through -09 and -012 and -013.^[1] Holes -008 and -013 broke into historic stopes.

FIGURE 10. Austin section view showing assay highlights for Holes MM24D-12-4791-002 through -005.^[1]

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 analyzed 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 – Standards of Disclosure for Mineral Projects (“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/oz. 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”, prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024 (the “Madsen Report”). 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 Madsen Report. A full copy of the Madsen 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 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:

Gwen Preston
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 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; timing of pre-feasibility study 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.

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West Red Lake Gold Intersects 54.19 g/t Au over 4m and 23.73 g/t Au over 3.53m at Austin – Madsen Mine

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