(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Dec. 04, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the“Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to provide an operations update on restart readiness activities at its 100% owned Madsen Mine project in the Red Lake gold District of Northwestern Ontario, Canada.
“As we push towards our goal of restarting the Madsen Mine next year, the team continues to make great progress on achieving key operational readiness milestones,” said Shane Williams, President and CEO.“Access development for test mining has been underway since late summer, putting us on the edge of mining. The bulk samples generated through the test mining program will be stockpiled on surface and then batch processed. Meanwhile the Connection Drift, primary crusher, and camp projects are being completed on schedule while definition drilling and mine planning and optimization continue.
“The entire WRLG team has been collectively working towards a successful restart of the Madsen mine. We are now approaching the finish line on many of the fundamental pieces that support this goal, including final optimization on the pre-feasibility study, completing key capital projects, mining our first underground stopes, and starting up the mill. It is a very exciting time for WRLG as we make the transition from developer to producer.”
Connection Drift 50% Complete
The Connection Drift, the largest of the capital projects supporting restart of the Madsen Mine, is 50% complete and is on track for completion by the end of March 2025.
The Connection Drift is a 1.2-km haulage way connecting the historic West Portal, which through extensive underground workings provides access to most parts of the Madsen mine including the Austin, South Austin, and McVeigh zones, and the East Portal, a modern portal from which development only extends a modest distance into the North Austin area.
The prior operator developed the East Portal and workings early in its construction effort but soon shifted to the less capital-intensive approach of using the historic West Portal.
West Red Lake Gold found notable inefficiencies in using the West Portal for moving mined material, including:
The portal is relatively small, limiting hauling to 30-tonne trucks. The haulage ways descending from the West Portal were developed over many years of historic operations; an array of steep sections and sharp corners make the route relatively inefficient for trucking. The route from the portal to the mill crosses two public roads and goes past the town of Madsen. Material must be dumped out of underground haul truck and reloaded into surface-insured trucks and only hauled during daylight hours (because of noise restrictions) to use this route. Much of the resource at Madsen sits spatially under the mill. Moving it west to bring it up through the West Portal and then driving it back east to the mill adds kilometres of trucking distance.
The East Portal, by contrast, is a large portal with modern workings. It can accommodate 60-tonne trucks, the haulage route within the mine was designed with efficiency in mind, and the East Portal is beside the primary crusher, which is close to the mill.
The Connection Drift will allow West Red Lake Gold to move all mined material out through the East Portal, eliminating the inefficiencies of the West Portal (which will remain open for ventilation and emergency access).
West Red Lake Gold raised $10 million in Canadian Development Expense flow through funds to finance this major project. Work started in August 2024.
“The Connection Drift is a key project as we prepare to mine, for several reasons,” said Maurice Mostert, Vice President Technical Services.“It is creating an efficient way to move material, the effort to develop it is giving our mining teams valuable experience working accurately and effectively underground at Madsen, and it is unlocking the potential to drill test some prospective targets.
“Investing in capital projects to create an efficient operation before we restart this mine is one of the key pillars of our Madsen thesis, which is that an efficient mine tapping a well-drilled and understood resource in appropriate ways will be very much worth the effort.”
The Connection Drift is on track for its targeted completion date in late March. To date 604.8 metres have been completed, of the 1.2 km total length.
Figure 1. A view of the Connection Drift, which is progressing west to east. This 1.2-km haulage way is now 50% complete.
Primary Crusher Commissioned
The primary crusher was delivered to the Madsen Mine site on November 5, 2024. It was unloaded, assembled, and has now been commissioned.
“A fully functioning and reliable primary crusher is a good example of the kind of capital investments we are making to support efficient operations when we restart the Madsen Mine,” said Williams.“It is exciting to see the crusher processing material as we commission this key piece of infrastructure.”
Figure 2. The CRJ3042 Electric Primary Jaw Crushing Plant being commissioned at the Madsen Mine site in late November.
Camp Installation
The camp was delivered on November 11, 2024 and is now being installed at the Madsen Mine site.
The camp is a 114-person facility. It offers individual rooms with ensuite bathrooms for each worker, a kitchen and dining hall, and recreation space.
Horizon North, an industry leader in providing accommodations and services to meet workforce requirements within the mining industry in Canada, supplied and will staff the camp facility.
Figure 3. The 114-person workforce accommodations facility for the Madsen Mine project during the unloading and installation process.
QUALIFIED PERSON
The technical information presented in this news release has been reviewed and approved by Maurice Mostert, P.Eng., Vice President of Technical Services for West Red Lake Gold and the Qualified Person for technical services at the West Red Lake Project, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT WEST RED LAKE GOLD MINES
West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
Email: ... or visit the Company's website at
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
The decision to continue with the advancement of the Madsen Mine restart and the Company's operations and plans with respect thereto, as described herein (the“Madsen Mine Restart”), are based on economic models prepared by the Company in conjunction with management's knowledge of the property and the existing estimate of indicated and inferred mineral resources on the property set out in the report entitled,“Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, with an effective date of July 31, 2022, as amended on April 24, 2024, a copy of which is available on SEDAR+ at . The Madsen Mine Restart is not based on a preliminary economic assessment, a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with the Madsen Mine Restart, in particular: the risk that mineral grades will be lower than expected; the risk that additional ongoing mining operations are more difficult or more expensive than expected; and the risk that production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis undertaken in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Certain statements contained in this news release may constitute“forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as“anticipate”,“expect”,“estimate”,“forecast”,“planned”, and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to plans for the potential restart of mining operations at the Madsen Mine, the potential of the Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company's future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.
Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices; timing and results of the cleanup and recovery at the Madsen Mine; and changes in the Company's business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company's management's discussion and analysis for the year ended November 30, 2023, and the Company's annual information form for the year ended November 30, 2023, copies of which are available on SEDAR+ at .
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available on SEDAR+ at .
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