Madsen Mine
Fully Permitted Gold Mine in Canada’s High Grade Gold District
Multi Million Ounce Potential in Red Lake: Fully permitted gold mine sitting on top of highly prospective exploration targets in a world class gold district
Robust, Data-Rich Technical Foundation: Updated Mineral Resource Estimate announced in June 2023
Near Term Production: With 18 months of recent operating history; initial start-up challenges have been understood; new approach to cost management, mine planning, and execution underway
Deep Value Opportunity: Over C$350 million invested to date; significant and expandable surface and underground infrastructure; potentially transferable tax assets to further underpin valuation
1.65 M ounces
of gold at
7.4 g/t
within 6.9 million tonnes in the indicated category
0.37 M ounces
of gold at
6.3 g/t
within 1.8 million tonnes in the inferred category
Reduce
Reduce ongoing liabilities associated with maintaining the Madsen site in alignment with active permits.
DeRisk Resource
Review and prioritize exploration targets at Madsen.
Stakeholder Management
West Red Lake team will ensure industry leading Indigenous and community engagement.
Initiate
Initiate regional exploration program focused on discovering additional gold ounces.
Growth
Growth investigates accretive opportunities in the area, organically grow the existing resource base, de-risk Madsen, and exceed previously achieved peak market capitalization.
Next Steps for Madsen Mine
Multiple
growth targets
47
square
kilometres
100% owned
Wedge target emerging as one of our most promising and high priority targets with high grade historic drill results and excellent infrastructure and access.
Drill testing at Gap and Derlak in 2021 confirmed mineralization at depth over significant widths.
