West Red Lake Gold Continues Work at the Rowan Gold Deposit
June 20, 2022 (Source) – West Red Lake Gold Mines Inc. (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) (“West Red Lake Gold” or the “Company”) is pleased to announce that a program of closely spaced surface channel sampling has commenced on the Rowan Gold Deposit at the West Red Lake Gold Project located in the prolific Red Lake Gold District of Northwestern Ontario, Canada.
The current sampling program is being performed on Zone 104D in the area of the Rowan Mine Shaft to follow up on high grade gold results from surface sampling reported on December 2, 2021.
The closely spaced surface samples are being taken from the gold zone with the purpose to further define the potential for extraction of high-grade gold mineralized material from surface.
The sampling area along a 125 metre (“m”) portion of Zone 104D is situated on the top of a hill approximately 35m above the water table. The recent initial set of results from a wider spaced sampling program reported on December 2, 2021 included 149.64 grams per tonne (“gpt”) over 1.0m, 45.68 gpt over 2.0m, 60.41gpt over 1.2m and 49.32 gpt over 1.3m.
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 tonnes graded 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.).
Mr. John Kontak, President of West Red Lake Gold stated, “We are pleased to be following up on the high grade results from surface at the Rowan Gold Deposit with additional work designed to enhance the prospect for surface mineable high grade 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.
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”).
The Company also announces 1,700,000 options have been issued to consultants for the Company to replace the same number of options that recently expired. The options are exercisable at a price of $0.10 per share for a term of 2 years.
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 approximately 650,000 ounces of gold at a sector leading All-in Sustaining Cost of A$1,135 – A$1,195 (C$1,020 – C$1,075) per ounce.
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.