Mineral Resource Definition

Search documents
West Red Lake Gold Expands High-Grade Zone in South Austin with 36.85 g/t Au over 6.9m, 92.39 g/t Au over 2m and 8.79 g/t Au over 15.5m
Globenewswireยท 2025-08-12 13:07
Core Insights - West Red Lake Gold Mines Ltd. has reported significant drill results from its 100% owned Madsen Mine in the Red Lake Gold District, Ontario, Canada, highlighting the potential for high-grade gold mineralization [1][2][44]. Summary by Sections Drill Results - The South Austin Zone has an Indicated mineral resource of 474,600 ounces grading 8.7 grams per tonne gold, with an additional Inferred resource of 31,800 ounces at the same grade [2][44]. - Recent drilling has confirmed high-grade mineralization, with notable intercepts including 6.9 meters at 36.85 g/t Au and 2 meters at 92.39 g/t Au [7][9][22]. Historical Context - The Madsen Mine's mineral resources are estimated at a cut-off grade of 3.38 g/t Au, based on a gold price of US$1,800 per ounce [5][44]. - The mine currently hosts a National Instrument 43-101 Indicated resource of 1.65 million ounces grading 7.4 g/t Au and an Inferred resource of 0.37 million ounces grading 6.3 g/t Au [44][45]. Geological Insights - The South Austin Zone is characterized by a complex geological structure, with mineralization occurring within broad alteration corridors that have been reactivated during gold mineralization events [26][27]. - High-grade zones are visually identifiable by fine grains of free gold and are associated with strong alteration and veining [29][30]. Future Plans - The ongoing underground drilling program aims to further define near-term mining inventory and expand the current mineral resource, focusing on higher-grade portions of the Austin, South Austin, North Austin, and McVeigh Zones [30][44].