West Red Lake Gold – Madsen Mine Cleanup Recovers Trapped Gold - Exploration Update And Roadmap To Development

The KE Report

Shane Williams, President and CEO of West Red Lake Gold Mines (TSX.V:WRLG – OTCQB:WRLGF), joins me to review some its ongoing Madsen mill cleanup and gold recovery at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada. We also get into an exploration update at the Madsen and Rowan properties, and basic roadmap to development and an eventual mine restart.

We start off discussing the news released to the marketplace May 2nd where the Company is continuing with the Madsen mill cleanup. Last year they carried out a preliminary phase of the Gold Recovery Program in late 2023 that recovered 415 troy ounces of gold with proceeds of approximately $750,000. However, based on the significant amount of gold recovered during the initial investigation, a second and more comprehensive phase of the Gold Recovery Program was initiated in early 2024 with a focus on the ball mills and the semi-autogenous grinding (“SAG”) mills. The SAG mills are the primary or first stage grinder for material entering the mill, which is then followed by the secondary ball mills. It is anticipated that the Company may recover at least 2,500 oz Au from the clean up.

We reviewed that the previous operator had ongoing reconciliation issues between the mined ore and the milled ore at the Madsen Mine made, but further review has shown they had made significant mistakes building the mine and mill, which are fixable. This process has helped their team understand the technical flow better and this also addresses that they’ll be able to solve many of the reconciliation issues between mined and milled ore upon a development and mine restart scenario. The next big step in this understanding and economics around the project will be in the Pre-Feasibility Study, due out by the end of this year.

We also took time to review the potential to keep growing resources at depth at Madsen both at depth with areas like the South Austin Zone and 8-Zone, but also at surface with new targets emerging at the Confederation Assemblage of rocks. This is similar to the geology that Great Bear Resources had explored in Red Lake, and changed the understanding of what rock packages could contain gold in the area. Additionally, up to 15,000m of surface drilling is to be completed at the Rowan Property with a focus on growth and expansion on the existing high-grade mineral resource

If you have any follow up questions for the team over at West Red Lake Gold please email me at [e-mail].

• In full disclosure, Shad is a shareholder of West Red Lake Gold Mines at the time of this recording.

Click here to visit the West Red Lake Gold website and read over the recent news we discussed.