West Red Lake Gold Mines (WRLG.v, WRLGF) Advances Production Restart Plans for High-Grade Madsen Gold Mine with Pre-Feasibility Study and Exploration Progress (Interview Breakdown + DD)
West Red Lake Gold Mines (Ticker: WRLG.v or WRLGF for US investors) CEO Shane Williams recently provided updates on the company’s Madsen Mine project in an interview with Proactive Investors at the Vancouver Resource Investment Conference (VRIC).
This high-grade gold project, located in Ontario’s prolific Red Lake Gold District, is moving closer to a production restart following the release of a pre-feasibility study.
The study focuses on a reserve mine plan leveraging tightly drilled, high-confidence zones close to existing infrastructure.
Production is expected to reach 70,000 ounces of gold annually over a 7-year mine life, with robust economics including nearly $400 million in post-tax free cash flow and a 255% internal rate of return based on a conservative gold price of USD $2,200/oz.
Notably, the pre-feasibility study focuses solely on four of the seven deposits within the Madsen resource: Austin, South Austin, McVeigh, and 8 Zone.
Additional deposits at the Madsen Mine, including the Fork deposit—where West Red Lake Gold recently identified a high-grade section only 250m from existing underground workings—present opportunities for future resource expansion.
With this, exploration efforts as well as potential increases in gold prices, which some forecasts suggest could surpass $3,000/oz by 2025, could significantly enhance the project's gold production and economic potential
As highlighted in the interview, a key focus for WRLG is the McVeigh Zone, a shallow and accessible area containing an indicated resource of 79,800 ounces at 6.4 g/t gold, with an inferred resource of 14,300 ounces at 6.9 g/t gold.
Tight-spaced drilling in this zone enhances resource confidence and refines geological models, minimizing dilution and optimizing mine plans for the anticipated mid-2025 restart. Recent drill results include intercepts of 106.99 g/t gold over 2.35m and 17.77 g/t gold over 5.5m, further demonstrating the zone’s potential.
In addition to drilling, bulk sampling efforts are validating resource models and informing mining methods, ensuring operational efficiency and accurate reconciliation. These efforts are critical for unlocking high-grade mineralization near historical stopes left behind by earlier selective mining.
With a strategic focus on efficient planning, high-grade assets, and detailed geological understanding, WRLG is well-positioned to meet its production goals and capitalize on its strong foothold in a globally renowned mining district
Full interview here: https://www.proactiveinvestors.com/companies/news/1064605/west-red-lake-gold-mines-ceo-discusses-madsen-mine-pre-feasibility-study-and-next-steps-at-vric.html
Posted on behalf of West Red Lake Gold Mines Ltd.