West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE:RLG) (FSE: HYK) (OTCQB: RLGMF) announces a deep hole has been drilled on the Rowan Mine property as part of ongoing exploration work on the 3,100 hectare West Red Lake Project located in the prolific Red Lake Gold District, Northwestern Ontario, Canada.
The hole, which was located 450m east of the Rowan Mine Shaft, was drilled to the north at -74 degrees over a length of 1,272m. Due to spring breakup conditions drilling operations were stopped and further drilling is planned to commerce in the second half of 2018.
The drill core has been logged and samples have been sent out for assay.
Mr. John Kontak, President of West Red Lake Gold Mines stated “We are very pleased to be continuing our exploration programs on the promising Red Lake property throughout 2018 and look forward to further property developments.”
The Rowan Mine Zones lie within the east-west trending regional shear structure known as the Pipestone Bay St Paul Deformation Zone (the “PBS Zone”) which is a regional geological structure that crosses the Company property and continues east to the town of Red Lake. Gold zones are hosted within a sequence of hydrothermally altered mafic volcanics with intercalated felsic volcanics and porphyries as well as ultramafics. Two distinct gold mineralization styles are noted: one associated with sulphide mineralization and the other with smoky quartz veins and fine grained native
gold. The mineralization is hosted within a shear zone up to a hundred metres wide.
The Company property is situated on the Red Lake Archean Greenstone Belt which hosts the high grade gold mines of the Red Lake Gold District. Three former gold mines on the West Red Lake Project property are situated on the PBS Zone with the Mount Jamie Mine located in the western portion of the West Red Lake Project, the Rowan Mine in the central portion and the Red Summit Mine located in the eastern portion. The regional scale Golden Arm Structure and the sub-parallel NT Zone cross onto the West Red Lake Project from the south boundary and trend northeast for 2 km to where they merge and intersect with the PBS Zone at a location situated between the Rowan Mine and the Red Summit Mine (the “Structural Intersection”).
Twenty kilometres to the east of the Company property a similar geologically important intersection of two regional gold bearing structures occurs proximal to the world class Red Lake Mine and Campbell Mine, providing a highly favourable geological model believed to be similar to that seen at the Structural Intersection and illustrating the significant exploration potential for high grade gold zones on the Company’s West Red Lake Project.
The Company also announces that it has approved the issuance of 639,000 common shares at a deemed price of $0.125 per share for services rendered to the Company by several providers.
The technical information presented in this news release has been reviewed and approved by Kenneth Guy, P.Geo., a consultant to West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”).
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced nearly 30 million ounces of gold from high grade zones. The Company has assembled a significant property position totalling 3100 hectares in west Red Lake (the “West Red Lake Project”) which contains three former gold mines. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 60%-owned joint venture with Red Lake Gold Mines, a partnership of Goldcorp Inc. and Goldcorp Canada Ltd. The West Red Lake Project property covers a 12 kilometre strike length along the Pipestone Bay St Paul Deformation Zone and the Company plans to continue to explore the property both along strike and to depth. To find out more about West Red Lake Gold, please visit our website at http://www.westredlakegold.com.
For more information, please contact: John Kontak, President Phone: 416-203-9181 Email: email@example.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Certain statements contained in this news release constitute “forward looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.