TSXV: WRLG
OTCQB: WRLGF
FRA: UJ0
GOLD

West Red Lake Gold Intersects 16.69 g/t Au over 8m, 6.17 g/t Au over 17.83m and 7.48 g/t Au over 12m at South Austin Zone – Madsen Mine

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 South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces (“oz”) grading 8.7 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.

The purpose of this drilling was definition within South Austin to continue building an inventory of high-confidence ounces for the eventual restart of production at the Madsen mine.

HIGHLIGHTS:

  • Hole MM24D-09-4068-012 Intersected 8m @ 16.69 g/t Au, from 73m to 81m, Including 1m @ 127.98 g/t Au, from 78m to 79m
  • Hole MM24D-09-4068-009 Intersected 17.83m @ 6.17 g/t Au, from 69.00m to 86.83m, Including 1m @ 30.05 g/t Au, from 69m to 70m, Also Including 1m @ 28.33 g/t Au, from 74m to 75m, Also Including 1m @ 14.59 g/t Au, from 82m to 83m.
  • Hole MM24D-09-4068-010 Intersected 12m @ 7.48 g/t Au, from 79m to 91m, Including 1m @ 73.56 g/t Au, from 80m to 81m, Also Including 0.5m @ 16.77 g/t Au, from 90.5m to 91m.
  • Hole MM24D-07-4198-012 Intersected 3.1m @ 21.33 g/t Au, from 83.9m to 87.0m, Including 0.5m @ 32.74 g/t Au, from 85.5m to 86.0m, Also Including 1m @ 28.78 g/t Au, from 86m to 87m.
  • Hole MM24D-09-4068-009 Intersected 2.48m @ 25.77 g/t Au, from 22.00m to 24.48m, Including 0.98m @ 64.35 g/t Au, from 23.50m to 24.48m.
  • Hole MM24D-07-4198-009 Intersected 9m @ 6.75 g/t Au, from 103m to 112m, Including 0.9m @ 27.91 g/t Au, from 104.0m to 104.9m, Also Including 1m @ 23.47 g/t Au, from 111m to 112m.
  • Hole MM24D-09-4068-006 Intersected 2.5m @ 17.54 g/t Au, from 21.0m to 23.5m, Including 1m @ 43.63 g/t Au, from 22m to 23m.
  • The high-grade mineralization encountered near the collar (top of hole) in Holes MM24D-07-4198-012, -014, -019, -020 and MM24D-09-4068-003, -006, -009 and -010 is starting to define a new, previously unrecognized footwall lens running sub-parallel to the South Austin zone (Figure 1). This footwall zone was initially recognized in holes MM24D-07-4198-002 and MM24D-07-4198-006 as described in a press release dated April 18th, 2024. This new zone has now been intercepted in ten (10) holes between the historic 7 and 9 Levels and will continue to be an expansion target as drilling continues in the South Austin area.

Shane Williams, President & CEO, stated, “The exceptional drill results highlighted in this news release really demonstrate the quality of the South Austin zone. We are encouraged by the very broad intercepts of mineralization averaging above 6 grams per tonne gold, which are accentuated by a number of very high-grade intervals. These thicker portions of South Austin could be more amenable to higher tonnage mining methods which is expected to help reduce overall mining costs. Furthermore, the new mineralized lens the team is defining footwall to South Austin between the historic 7 and 9 Levels is quite exciting and demonstrates the discovery potential that still exists within and adjacent to the Madsen deposit.”

Plan maps and section for the South Austin drilling outlined in this release are provided in Figures 1 through 4.

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

Hole IDTargetFrom (m)To (m)Length (m)*Au (g/t)
MM24D-07-4198-007South AustinNo Assays > 3 g/t Au
MM24D-07-4198-008South Austin98.50101.002.504.69
MM24D-07-4198-009South Austin103.00112.009.006.75
Incl.104.00104.900.9027.91
Also Incl.111.00112.001.0023.47
MM24D-07-4198-010South Austin75.4578.002.556.08
Incl.76.0077.001.0011.08
MM24D-07-4198-011South AustinNo Assays > 3 g/t Au
MM24D-07-4198-012South Austin8.0010.002.008.70
Incl.9.0010.001.0016.97
AND83.9087.003.1021.33
Incl.85.5086.000.5032.74
Also Incl.86.0087.001.0028.78
MM24D-07-4198-013South Austin85.7086.500.806.47
MM24D-07-4198-014South Austin18.0018.500.503.75
AND89.0091.002.004.47
AND144.00145.001.003.29
MM24D-07-4198-015South Austin144.00144.750.753.16
MM24D-07-4198-016South AustinNo Assays > 3 g/t Au
MM24D-07-4198-017South AustinNo Assays > 3 g/t Au
MM24D-07-4198-018South AustinNo Assays > 3 g/t Au
MM24D-07-4198-019South Austin10.5012.001.503.68
AND76.0078.502.504.20
Incl.76.5077.000.5013.00
MM24D-07-4198-020South Austin37.1537.750.603.58
AND45.5046.501.004.07
MM24D-09-4068-001South AustinNo Assays > 3 g/t Au
MM24D-09-4068-002South Austin55.8057.001.203.78
MM24D-09-4068-003South Austin22.5024.001.506.85
Incl.22.5023.000.5020.10
MM24D-09-4068-004South Austin53.0053.600.605.32
MM24D-09-4068-005South Austin40.0040.900.9022.73
MM24D-09-4068-006South Austin21.0023.502.5017.54
Incl.22.0023.001.0043.63
AND89.5091.001.5011.89
MM24D-09-4068-007South AustinNo Assays > 3 g/t Au
MM24D-09-4068-008South Austin64.5065.000.504.84
MM24D-09-4068-009South Austin22.0024.482.4825.77
Incl.23.5024.480.9864.35
ANDSouth Austin69.0086.8317.836.17
Incl.69.0070.001.0030.05
Also Incl.74.0075.001.0028.33
Also Incl.82.0083.001.0014.59
MM24D-09-4068-010South Austin24.0025.531.5311.29
Incl.25.0025.530.5331.83
AND79.0091.0012.007.48
Incl.80.0081.001.0073.56
Also Incl.90.5091.000.5016.77
MM24D-09-4068-011South Austin63.5066.002.504.42
Incl.64.5065.300.809.90
MM24D-09-4068-012South Austin73.0081.008.0016.69
Incl.78.0079.001.00127.98

*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.

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

Hole IDTargetEastingNorthingElev (m)Length (m)AzimuthDip
MM24D-07-4198-007South Austin435390564622522222154-21
MM24D-07-4198-008South Austin435390564622522165157-22
MM24D-07-4198-009South Austin435390564622522162166-16
MM24D-07-4198-010South Austin435390564622522180116-17
MM24D-07-4198-011South Austin435390564622522183120-19
MM24D-07-4198-012South Austin435390564622522195124-23
MM24D-07-4198-013South Austin435390564622422162129-23
MM24D-07-4198-014South Austin435390564622322162143-23
MM24D-07-4198-015South Austin435390564622322161149-23
MM24D-07-4198-016South Austin435390564622422171135-29
MM24D-07-4198-017South Austin435390564622322177146-30
MM24D-07-4198-018South Austin435390564622322180155-29
MM24D-07-4198-019South Austin435391564622422186111-16
MM24D-07-4198-020South Austin435385564622523120296-10
MM24D-09-4068-001South Austin435331564611161118722
MM24D-09-4068-002South Austin435331564611161029324
MM24D-09-4068-003South Austin4353315646111617793-8
MM24D-09-4068-004South Austin435331564611161059923
MM24D-09-4068-005South Austin435331564611161059915
MM24D-09-4068-006South Austin4353315646111617199-9
MM24D-09-4068-007South Austin43533156461116171106-14
MM24D-09-4068-008South Austin4353315646111610210722
MM24D-09-4068-009South Austin43533156461116159111-9
MM24D-09-4068-010South Austin43533156461116171118-18
MM24D-09-4068-011South Austin435331564611161021205
MM24D-09-4068-012South Austin43533156461116162121-15

DISCUSSION

Accessed through the Madsen Mine West Portal, the South Austin Zone sits south in the hanging wall of the main Austin Zone. Like the other mineralized domains that comprise the Madsen Mine, the South Austin structure is 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, and North Austin 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/june-news-release-maps/

FIGURE 1. South Austin plan view drill section showing assay highlights for Holes MM24D-07-4198-007 through -020 and MM24D-09-4068-001 through -012.[1]
FIGURE 2. South Austin section view showing assay highlights for Holes MM24D-09-4068-006, and -008 through -012.[1]
FIGURE 3. South Austin section view showing assay highlights for Holes MM24D-09-4068-001 through -006, -008 and -010.[1]
FIGURE 4. South Austin section view showing assay highlights for Holes MM24D-07-4198-009, -010, -012 through -015, -019, -020 and MM24D-09-4068-008.[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”.

INVESTOR RELATIONS

Further to the Company’s news release of May 23, 2024 announcing the appointment of Gwen Preston as VP Investor Relations, the Company further reports that Gwen Preston will manage all aspects of investor relations, including but not limited to attending conferences, and developing and implementing comprehensive investor relations strategies, initiatives, and programs to enhance the Company’s relationships with analysts, shareholders, and the investment community.  Ms. Preston has been granted 200,000 stock options exercisable at $0.90 until April 11, 2029, and owns 42,660 common shares and 28,000 common share purchase warrants of the Company.  Gwen Preston is based in Vancouver, BC.

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:

Freddie Leigh

Tel: (604) 609-6132

Email:  investors@wrgold.com 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; 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.

[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

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