InvestorIntel’s Tracy Weslosky speaks with Tom Meredith, Executive Chairman of West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF), about their recently announced drill results which has expanded gold mineralization at the NT Zone on the Rowan Mine property in the prolific Red Lake Gold District.

In an InvestorIntel interview that can also be viewed on our InvestorIntel YouTube channel, Tracy and Tom discussed West Red Lake Gold’s drill results with several high grade gold intercepts including 5.91 gpt gold over 6 meters.

“We are in Red Lake which is one of Canada’s best-known gold mining districts,” Tom said. “It was the foundation of Goldcorp which created tremendous amount of value for its shareholders and we are about 20 km away from that significant deposit.” Commenting on the gold market, Tom said, “The central banks around the world are printing money. What that does is that it enhances the value of gold.”

To watch the full interview, click here

To learn more about West Red Lake Gold Mines Inc., click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.

“The main macroeconomic factors that create a positive global environment (for gold sector) include negative real interest rates, increasing money supply and increasing budget deficits and national debts…in general, it is positive for the gold sector.” States John Kontak, President and Director of West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF), in an interview with InvestorIntel’s Tracy Weslosky.

John went on to say that West Red Lake Gold intends to take advantage of the positive gold sentiment and be busy with their property in Red Lake Gold District of Northwest Ontario, Canada. John continued, “We have a high-grade deposit with an inferred resource of 7.57 grams per ton at the Rowan Mine deposit. It is 1.1 million ounces of gold all within 500 meters of surface…with experienced management like ourselves at West Red Lake Gold Mines in well developed mining jurisdiction and mining camp like Red Lake, Ontario – these assets are going to be outperforming over the next two to three years.”

To access the complete interview, click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.

“I think that the macro picture is in place for a positive gold sector and we think that is the case for the next extended period of time. Now on the junior level, junior developers like us, we are getting $13.00 an ounce in the ground based on our resource estimate at the Rowan Mine. These things are going to get revalued at some point. Historically they will get 10 times what they are getting right now per ounce in the ground. We think there is a positive situation ahead in the precious metal sector including gold exploration and development companies like ourselves.” States John Kontak, President and Director of West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Your stock moved up 27% last week on no news. Do you think investors are looking at gold again John? 

John Kontak: Of course we are happy to see the movement in our stock. The question would become, I think to some extent, does it look like 2016 again when the gold peaked at $1,900.00 in 2011 and then we went into a bear market in the gold sector including the juniors? It kind of turned around in 2016. Let me answer that on a macro level and then relate it to the junior sector. On the macro level I think the price of gold in New York right now is being determined by the Federal Reserve policy. They have been increasing interest rates at 25 basis points. That has created a strong U.S. dollar and a weakness in the gold sector. But, there are only so many interest hikes ahead. For every 1% on the T-bill there is $220 billion dollars of interest given that the U.S. is now under $22 trillion dollars of debt at the national level alone. Regardless of what has happened last week, I think that the macro picture is in place for a positive gold sector and we think that is the case for the next extended period of time. Now on the junior level, junior developers like us, we are getting $13.00 an ounce in the ground based on our resource estimate at the Rowan Mine. These things are going to get revalued at some point. Historically they will get 10 times what they are getting right now per ounce in the ground. We think there is a positive situation ahead in the precious metal sector including gold exploration and development companies like ourselves. We are happy with what happened last week and we think there is more of that ahead.

Tracy Weslosky: InvestorIntel audience members out there, we have a bit of a buzz going on with a belief that some of the cannabis cash will be redirected into gold here shortly. We have asked John, because, of course, West Red Lake is in one of the richest gold deposit areas in the world, correct?

John Kontak: Yeah. Just to remind your listeners, we have the West Red Lake Project property. It is a 3,100 hectors on the west side of the Red Lake Gold District. We have 12 kilometers of strike length on the Pipestone Bay St Paul Deformation Zone, the regional gold bearing structure that has made the Red Lake Gold District a high-grade gold district that has produced 30 million ounces over time. On the West Red Lake project there are 3 former mines. We have the Mount Jamie Mine and the Red Summit Mine; we own 100%. On the Rowan Mine, which is the most developed portion of our property, we own 60% and operate in Goldcorp, one of the largest gold producers in the world that was founded in Red Lake, Ontario, has 40% and they fund their 40%. We have a resource estimate at the Rowan Mine property. It is 1.1 million ounces graded at 7.6 grams per ton…to access the complete interview, click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.

March 15, 2018 – “In 2018 our focus is just to go to depth right under the resource area and endeavor to expand the mineralized zones down to about 1,000 meters, which is still relatively shallow in the Red Lake Gold District.” said John Kontak, President and Director of West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF), in an interview with InvestorIntel’s Jeff Wareham. 

Jeff Wareham: Can you bring me up to speed on what the focus is for 2018? 

John Kontak: Focus for 2018 is going to be continuing to drill. We have announced that we will be drilling in March and we will be later this month. We will take the results from that drill program and look at the data and plan to drill another program on our West Red Lake property this summer as well. We are going to be busy in the field in 2018 is what we are going to be doing and we are funded for those programs.

Jeff Wareham: I know you have got at least three projects there on the deposit. Is it the Rowan Project you are concentrating on?

John Kontak: Yeah, we have the West Red Lake Project property. It is in Red Lake, Ontario on the west side of the Red Lake Gold District. It is a 3,100 hectare property. There are three former underground mines on the property, all of which has a shaft. The Mount Jamie Mines and the Red Summit Mines. We own 100%. On the Rowan Mine portion of our property we own that 60% and operate a joint venture that we have with Goldcorp. Goldcorp funds their 40% of the joint venture. We also have on that Rowan Mine property portion of our property where we have joint ventured with Goldcorp an NI 43-101 resource estimate. It is 1.1 million ounces of 7.57 grams per ton grading. It is all close to surface, within 500 meters of surface, most of it within 350 meters of surface. It is the type of deposit that Red Lake Gold District is famous for to the tune of 30 million ounces being produced over time. 18 million by our joint venture partner, Goldcorp. Close to surface, high-grade underground gold mining. In 2018 our focus is just to go to depth right under the resource area and endeavor to expand the mineralized zones down to about 1,000 meters, which is still relatively shallow in the Red Lake Gold District.

Jeff Wareham: You are looking at starting pretty much immediately, right? It is March/April you were talking.

John Kontak: We have a camp and we have a great relationship with our drill contactor. Drills are getting tighter, but we always have a drill on the property. We are just moving the drill and getting going yet in March. 

Jeff Wareham: Fantastic. Investors should be watching for lots of news.

John Kontak: Yes. We are going to keep the news flowing on the property. We will have data from the March drill program. Then we will be drilling again in the summer. At the same time Jeff we are starting internal scoping studies to look at the economics of the deposit. Also we have been working on the baseline environmental studies, like the water sampling…to access the complete interview, click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.