2022-04-04 14:07:35
TORONTO, April 4, 2022 /CNW/ – West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) is pleased to announce that exploration diamond drilling and surface channel sampling programs are planned at the West Red Lake Gold Project located in the prolific Red Lake Gold District of Northwestern Ontario, Canada.
The Company is planning an initial spring/summer drill program to be followed by additional drilling in the fall. The spring/summer program will consist of a series of holes to target gold mineralization in the Porphyry Hill Zone, which is situated in the northeast portion of the NT Zone.
During the summer months, additional surface channel sampling is planned at Zone 104D, proximal to the Rowan Mine Shaft. This work will follow up on recently reported surface sampling for the purpose of increased definition of gold zone mineralization that was undertaken in 2021 (see news release dated December 2, 2021).
The Rowan Mine Gold Deposit consists of several, near vertical, gold zones within a 1,800 m portion of the east-west trending Pipestone Bay St Paul Deformation Zone (“PBS Zone”) and hosts a gold resource. (NI 43-101 Rowan Mine Mineral Resource: 4,468,900 t grading 7.57 gpt Au for 1,087,700 inferred oz of Au from the Technical Report and Resource Estimate on the West Red Lake Project dated February 16, 2016 authored by John C. Archibald, B.Sc., P.Geo., Peter Bevan, P.Eng., and John Kita, P.Eng.).
The Company also plans to collect surface channel samples from the southern portion of the NT Zone in the area of high-grade drill intercepts from shallow drilling previously reported by the Company (see news release dated February 18, 2021).
The NT Zone is approximately 100 m wide and trends north-east from the south property boundary for a distance of 2 kms to where this regional scale structure intersects with the east-west trending PBS Zone. The area of planned exploration work on the northeast portion of the NT Zone is located approximately 300 m southeast of the Rowan Mine Gold Deposit.
Mr. John Kontak, President of West Red Lake Gold Mines stated “We look forward to starting our drill program this spring at the Porphyry Hill Zone with the objective of expanding the gold mineralization along the northeast portion of the NT Zone. During the summer, the Company also plans additional surface sampling work at the Rowan Mine plus metallurgical testing of Rowan gold zone mineralization to obtain improved definition of Rowan gold mineralization”.
The Rowan Mine property is situated in the Red Lake Archean Greenstone Belt which hosts the high-grade gold mines of the Red Lake Gold District. Fifteen kms to the east of the Company property are the world class Red Lake Mine and Campbell Mine, which have a geologically similar setting illustrating the exploration potential for high-grade gold zones on the Company’s West Red Lake Project – which hosts three former gold mines.
Technical Information
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”).
About West Red Lake Gold Mines
West Red Lake Gold Mines 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 30 million ounces of gold from high grade zones. The Company has assembled a significant property position totalling 3,100 hectares in west Red Lake (the “West Red Lake Project”) which contains three former gold mines located 15 km west of the Red Lake mine complex. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 69% – 31% joint venture with Evolution Mining Limited. The West Red Lake Project property covers a 12 km strike length along the Pipestone Bay St Paul Deformation Zone and the Company is continuing to explore the property both along strike and to depth.
About Evolution Mining
Evolution Mining is a leading, globally relevant gold miner. Evolution operates five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. Financial Year 2022 production guidance is 670,000 – 725,000 ounces of gold at a sector leading All-in Sustaining Cost of C$1,065 – C$1,125 per ounce.
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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 Mines 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.
