Tom Meredith on the ‘very high quality, high-grade gold deposits’ in the Red Lake Gold District
“We are in Red Lake in Ontario which is a very well known gold district. That is where Goldcorp was created and created a huge amount of value for the shareholders of that company. It (Red Lake Gold District) produces very high quality, high-grade gold deposits. Our project is about 15 km away from where Goldcorp’s main mines are which is now owned by Newmont. We are partners with Newmont Goldcorp in the project. One of the reasons they like our property is because they see the potential for a high-value deposit that could be found in our property.” States Tom Meredith, Executive Chairman of West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF), in an interview with InvestorIntel’s Tracy Weslosky.
Tom went on to provide an update on West Red Lake Gold’s drilling program. Tom said that the company already has one gold deposit in the property that is just over a million ounces of resource and has started drilling a second gold deposit a few hundred meters away. The drill started at the beginning of October and the initial results are positive. Tom further added that gold prices are expected to go higher as interest rates are going lower.
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Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.