West Red Lake Gold Exploration Update
March 25, 2021 (Source) — West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) is pleased to announce that exploration diamond drilling is continuing at the West Red Lake Gold Project located in the prolific Red Lake Gold District of Northwestern Ontario, Canada.
The Company is currently drilling a series of 16 shallow holes to target gold mineralization from surface down to the first level of the Rowan Mine. The objective is to outline a potential bulk sample which could be accessed from surface. Very little drilling has previously taken place above the first level. Historic first level sampling together with surface sampling indicate good potential for a gold-rich bulk sample to be extracted sometime in the future.
Approximately 200 m of strike length near the Rowan Mine Shaft is prospective for potential surface bulk sampling. The area being drilled begins at the mine adit at the east end of the first mine level and along the mineralized strike length of the Rowan Mine Gold Deposit to the west. Drilling is targeting Zones 103C and 104D which are parallel and separated by a distance of 20 m. These two zones are exposed at surface approximately 30 m above the first mine level at the location of the Rowan Mine Shaft.
The Rowan Mine Gold Deposit is near vertical and hosts several gold zones within a 1800 m portion of the east-west trending Pipestone Bay St Paul Deformation Zone (“PBS Zone”) which hosts the Rowan Mine Gold Deposit. (NI 43-101 Rowan Mine Mineral Resource: 4,468,900 t grading 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.).
NT Zone exploration work is also ongoing with a new hole drilled in the northeastern portion of the NT Zone. The hole was drilled 300 m further along strike from previously announced drilling (see news release dated February 18, 2021) with ongoing exploration plans to follow the gold mineralized NT Zone corridor further to the northeast into the area where the NT Zone intersects with the PBS Zone and then folds around to the northwest.
The NT Zone is located on the Rowan Joint Venture portion of the West Red Lake Project, is approximately 100 m wide and 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 PBS Zone. The area of planned exploration work on the northern portion of the NT Zone is located approximately 500 m east to southeast of the Rowan Mine Gold Deposit.
Mr. John Kontak, President of West Red Lake Gold Mines stated “A potential surface bulk sample at the Rowan Mine could provide good information for future processing of mineralized material from the Rowan Mine Gold Deposit. We are also very pleased to be exploring the northern portion of the NT Zone to expand gold mineralization further along strike on the 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 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”).
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 64%/36% 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 plans to continue to explore the property both along strike and to depth during 2021.
About Evolution Mining
Evolution Mining is a leading, growth-focused Australian gold miner. Evolution operates five wholly-owned mines – Cowal in New South Wales, Mt Rawdon and Mt Carlton in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. In addition, Evolution holds an economic interest in the Ernest Henry copper-gold mine in Queensland. FY21 Group gold production is forecast to be between 670,000 – 730,000 ounces at an AISC of A$1,240 – A$1,300 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 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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