West Red Lake Gold Mines Ltd. is a publicly traded gold company that is focused on developing its flagship Madsen Mine and exploring the associated 47 sq-Km highly prospective land package in the Red Lake Gold District of Ontario. The Madsen Mine produced 2 million ounces of gold historically from high grade mineralization. A recent restart failed when an insufficient resource model and an undercapitalized build led to low mined gold grades and high costs. West Red Lake purchased the asset in early 2023, has been addressing those deficiencies, and plans to restart this high-grade and largely built gold mine in 2025. 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.
Madsen Mine is the flagship asset which commanded a peak value of over C$1 Billion. Significant infrastructure in place with over C$350 million invested to date.