[Video Enhanced] West Red Lake Gold Hits New High-Grade Lens in Lower Austin

Core Viewpoint - West Red Lake Gold Mines has reported high-grade drill results from the Lower Austin Zone, indicating significant potential for gold mineralization and resource expansion in the Madsen Mine [1][2][8]. Company Objectives - The company is focusing on three main objectives: achieving targeted ramp-up gold ounce production, instituting new operational efficiencies, and adding high-confidence gold ounces to its metal inventory [3]. Drill Results and Mineralization - The recent drilling at the Madsen Mine, specifically from the 12 Level at approximately 600 meters depth, has yielded high-grade results, including an intersection of 7.75 meters at 139.45 grams per tonne gold [2][8]. - The Lower Austin Zone currently has an indicated mineral resource of 914,200 ounces at a grade of 6.9 grams per tonne gold, with an inferred resource of 104,900 ounces at 6.5 grams per tonne gold [1][8]. Historical Context and Potential - The Madsen Mine has resources defined down to depths of over one kilometer, with the Red Lake District known for deep deposits that typically increase in thickness at lower depths [7]. - Historical data indicates that significant high-grade zones can radically change a company's production profile, as seen in past operations in the Red Lake area [7]. Mining Strategy and Economic Viability - The company employs a drilling strategy with seven-meter spacing to accurately model the deposit, which is crucial for managing the discontinuity of mineralization [10]. - A higher gold price allows for a more inclusive resource estimation, reducing the cutoff grade for resource inclusion and potentially increasing overall ounces and tonnage [20]. Future Exploration and Development - The company anticipates continued success in discovering and defining more lenses of high-grade mineralization as drilling progresses in the Lower Austin Zone [21]. - The recent findings are seen as validation for the company's decision to resume production at the Madsen Mine, with expectations of further discoveries [13].