Exploration continues for Canada’s West Red Lake Gold Mines
The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced nearly 30 million ounces of gold from high grade zones, including 18 million ounces from the nearby Red Lake Mine and Campbell Mine operated by Goldcorp. The mine still has estimated reserves of 3.23 million ounces of gold. The Red Lake Gold Mine in north west Ontario is not just one of the largest gold mines in Canada, but it is also one of the largest gold mines in the world.
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West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF) has assembled a 3,100 hectare property which has a 12 km strike length and 3 former gold mines within the Red Lake district. The Company property is situated on the Red Lake Archean Greenstone Belt, which hosts the high-grade gold mines of the Red Lake Gold District. The Company’s near term strategy is to explore and develop a significant high grade gold resource at the Rowan Mine, including scoping studies and baseline environmental studies. Exploration work is focused on drilling high grade gold zones on the Rowan Mine property. Their long term strategy is to realize the greater potential of the West Red Lake Project including the Mount Jamie and Red Summit Mines.
Rowan Mine Property
Goldcorp and West Red Lake Gold Mines have formed a joint venture on the Rowan Mine property (RLG as operator 60%; Goldcorp as funding partner 40%). The Rowan Mine Gold zone has good potential to expand to depth in the vicinity with a structural intersection target 1.5 km east of the Rowan Mine Shaft. The Rowan Mine property presently hosts an inferred mineral resource of 4,468,900 tonnes at an average grade of 7.57 grams per tonne Au, and is comprised of 119 claims.
On September 19, 2018 the Company provided an update that its joint venture partner Red Lake Gold Mines, a subsidiary of Goldcorp, is carrying out a surface exploration program on the Company’s West Red Lake Project. The program emphasis will be on the Red Summit intrusion, the potential regional scale Hinge Zone and the interpreted west-northwest (“WNW”) high strain corridor. The Red Summit intrusion is a grano-diorite intrusion with associated gold mineralization located approximately 3 km east of the Rowan Mine shaft. The surface exploration work is being carried out during August and September 2018. Subject to positive results, the Company may test new targets with drilling as part of the planned fall exploration program.
Gold has influenced mankind with major gold rushes taking place in the 19th century in Australia, New Zealand, Brazil, Canada, South Africa and the United States. This has helped spur huge immigration that often led to permanent settlement of new regions. In mid September 2018, near Kambalda in Western Australia, a gold nugget was discovered that needed three men to lift it off the ground. The Red Lake Gold District still has a sizable amount of gold still to be discovered and maybe West Red Lake Gold Mines Inc. could be the one finding the next huge nugget at their Rowan mine, that may just need four men to lift.
West Red Lake Gold Mines Inc. is based in Toronto Canada and acquires, explores and develops gold deposit properties throughout Canada.
Matthew Bohlsen holds a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in Financial Planning. He has 30 years ... <Read more about Matthew Bohlsen>