West Red Lake Gold Exploration Plans
May 19, 2020 (Source) – West Red Lake Gold Mines Inc. (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) (“West Red Lake Gold” or the “Company”) announces exploration plans on its West Red Lake Project property located in the prolific Red Lake Gold District, Northwestern Ontario, Canada.
West Red Lake Gold plans to initiate a 3,000 metre exploration drill program on the NT Zone during mid June to follow up on the positive results announced on January 15, 2020.
Several holes will be drilled below the drill holes of the previous drill program with the purpose of extending gold mineralization to greater depths.
Additional exploration drill holes are also planned to extend the NT Zone gold mineralization 150m to 250m further along strike to the north-east.
West Red Lake Gold plans to focus exploration drilling on the southern 1 kilometer (“km”) portion of the 2 km long NT Zone, initially between surface and 200 metres depth. Exploration work on the northern portion of the NT Zone will also take place. The geology of the northern portion is more complex due to folding and the presence of intrusive rocks, which together provide attractive exploration potential in the area.
The NT Zone, which is located on the Rowan Joint Venture portion of the West Red Lake Project, 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 Pipestone Bay St Paul Deformation Zone. The area of planned exploration work on the southern portion of the NT Zone is located approximately 800 metres south of the former Rowan Mine.
The NT Zone is a large-scale alteration/deformation zone. The scale and style of the iron-carbonate alteration within the NT Zone is interpreted to be associated with large multi-stage hydrothermal systems. Gold mineralization in the NT Zone is associated with silica/sulphide replacement of the iron-carbonate zones within altered volcanic and sedimentary rocks.
Mr. John Kontak, President of West Red Lake Gold Mines stated “The upcoming exploration drilling at the gold-bearing NT Zone provides a good opportunity for the expansion of the gold mineralization on the property. We are looking forward to exploration drilling in 2020 on this attractive gold property.”
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. Twenty 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 Company also announces that options have been granted to consultants of the Company to purchase, in aggregate, 1,900,000 common shares in the capital of the Company at an exercise price of $0.10 per common share for a period of 24 months.
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”).
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. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a joint venture with Evolution Mining Limited. The West Red Lake Project property covers a 12 kilometre strike length along the Pipestone Bay St Paul Deformation Zone and the Company plans to continue to explore the property both along strike and to depth.
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.
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>