West Red Lake Gold on standby for NT Zone drill results
West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF | FSE: HYK) (‘West Red Lake Gold’) is 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.
West Red Lake Gold has a 3,100-hectare property with a 12 km strike length that 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 64%/36% joint venture with Evolution Mining Limited.
West Red Lake Gold’s projects in the Red Lake Gold District of Ontario Canada
The Rowan Mine Property (64% owned by West Red Lake Gold as partner/operator) has an NI 43-101 Inferred Resource of 1.087 million inferred ounces of gold at 7.57 g/t and is open at depth. The NT Zone is located approximately 800 meters south-east of the Rowan Mine gold deposit and is part of the Rowan Mine Property JV.
During Q1 2021, West Red Lake Gold is drilling the northern 1 km of the NT Zone as a follow-up to successful drill results from the southern 1 km portion of the NT Zone during 2019 and 2020. The Company also plans to carry out deeper drilling below the positive results previously reported in the southern 1 km portion of the NT Zone.
West Red Lake Gold also plans to drill for gold mineralization above the first level of the Rowan Mine where historic sampling on the first mine level and at surface indicate good potential for a gold-rich surface bulk sample.
The NT Zone is currently being drilled by West Red Lake Gold
West Red Lake continues to drill its promising NT Zone. The goal is to further expand the NT Zone gold mineralization to depth and along strike and potentially expand the gold resource. Based on the successful 2020 campaign (included 12.14 g/t gold over 13.5m, 5.91g/t gold over 6.0m), the existing 1.087 million ounces inferred gold resource at 7.57 g/t at the nearby Rowan Mine, and the prolific gold region; I would say it is very possible West Red Lake will find further nice grade gold. The question is how much? The answer will be revealed in a few months when the latest NT Zone drill results are released. Stay tuned.
West Red Lake Gold has a current market cap of just C$18 million.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>