Intersections At the Madison Mine In Red Lake Gold District

Intersections At the Madison Mine In Red Lake Gold District

VANCOUVER – West Red Lake Gold Mines Ltd. reported on drilling at the Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada. The drill results were 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 eventual restart of the Madsen mill. Notably, visible gold (VG) was observed in holes MM24D-12-4640-008 and -012. Based on these observations, additional holes were added to the drill station to further define these high-grade zones up and down plunge.

Shane Williams, President & CEO, stated, “The team has been making great progress de-risking the Madsen deposit with definition drilling as we continue to build up an inventory of high-grade and high-confidence ounces that will prove invaluable during the initial ramping up of mine production. The Mine Operations team is working in tandem with Geology to ensure the underground drills get to the highest priority areas of the deposit. The excellent results are indicative of the upside that still exists at Madsen even within the current life-of-mine resource inventory.”

Since underground drilling resumed in early January 2024 the Company has completed 1,996m of Expansion drilling and 2,716m of Definition drilling. In total, 56 diamond drill holes for 4,367m have been completed so far in 2024 at the Madsen Mine. Fire and metallic screen assays have been returned for 56 out of 56 holes completed, with 1 Expansion hole currently drilling.