VANCOUVER, British Columbia, April 19, 2023 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:WRLG) (OTC: WRLGF) is pleased to provide an exploration update on its previously announced Phase 1 exploration program from its 100% owned Rowan Property located in Red Lake, Ontario (see news release of March 13, 2023).
Highlights
- A total of 16 holes for 3,094 metres (“m”) of NQ drilling completed in 2023 at Rowan Property
- 100% of the 2023 completed drill holes intersected mineralized zones with visible gold (“VG”) being observed in 50% of holes.
- The mineralized zones encountered have confirmed the Company’s internal geologic models and exploration thesis at both the Rowan Mine area and Red Summit NE targets.
- An additional 4,000m planned for the Phase 1 program to be completed in June.
- Styles of mineralization encountered are characteristic of the high-grade Archean lode gold systems found elsewhere in the Red Lake District.
- The mineralization observed at Rowan is potentially similar to Madsen.
A total of 14 diamond holes totaling 2,314m have been completed to date at the Rowan Mine area and 780m across 2 drill holes testing targets in the Red Summit NE area. An additional 4,000m are planned for the Phase 1 program which is expected to be completed on target by June 30, 2023.
Upon completion of Phase 1, the Company will lead directly into its Phase 2 program, which will include an additional 10,000m of drilling to further build on Phase 1 exploration work, as well as test newly developed greenfield targets over the remaining and highly prospective 3,100 hectare (“ha”) Rowan Property.
Tom Meredith, CEO, stated, "The Company’s 2023 exploration program at Rowan has got off to a good start with great success early on. The Phase 1 program has had a 100% hit rate with 50% of targeted drill holes containing intersections with visible gold. Exploration work to date confirms the Company’s original geologic thesis and has shed considerable light on possible synergies with the Madsen Gold Project. We look to continue building on this early momentum and delivering value for our shareholders.”
FIGURE 1. Property map showing location of completed Phase 1 drill collars.
FIGURE 2. Rowan drilling completed to date. Holes with observed VG highlighted in red.
FIGURE 3. Closeup photos of visible gold from drillhole RLG-23-130.
TABLE 1. Description of visible gold intercepts from phase one drilling at Rowan Mine area.
| Hole ID | From (m) | To (m) | Thick (m) | Description |
| RLG-23-130 | 70 | 73.5 | 3.5 | VG observed in (2) narrow quartz veins w/in ankerite-sercite altered zone |
| RLG-23-131 | 88 | 89.1 | 1.1 | VG observed in 8cm-thick quartz vein w/in ankerite-sericite altered zone |
| RLG-23-132 | 56 | 75 | 19 | VG observed in 30cm-thick smokey quartz-sphalerite-galena-pyrite-pyrrhotite vein w/in zone of moderate to strong sericite alteration |
| AND | 143.2 | 176.3 | 33.1 | VG observed in 20cm-thick smokey quartz-sphalerite-galena-pyrite-pyrrhotite vein w/in sericite altered zone |
| RLG-23-133 | 73 | 77 | 4 | VG observed in 20cm-thick quartz-tourmaline-sphalerite-galena-pyrite vein w/in zone of intense silica-fuchsite alteration |
| RLG-23-134 | 226.4 | 226.8 | 0.4 | VG observed in 10cm-thick quartz-chlorite vein w/in sericite altered zone |
| RLG-23-135 | 42 | 44 | 2 | VG observed in (2) narrow quartz veins w/in sericite altered zone |
| RLG-23-136 | 59.8 | 62 | 2.2 | VG observed in 40cm-thick smokey quartz vein w/in sericite altered zone |
| AND | 133.4 | 157 | 23.6 | VG observed in 10cm-thick quartz vein w/in sericite altered zone |
| RLG-23-139 | 21.4 | 22.5 | 1.1 | VG observed in 60cm-thick quartz-sphalerite-galena vein w/in sericite alteration zone |
*The “From-To” intervals in Table 1 are denoting overall downhole length of mineralized and/or altered zones, which contain more discrete quartz vein intercepts with visible gold. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness. It is important to note that the presence of visible gold is based on observations made by the core logging geologist and cannot be relied upon as an indicator of gold assay grade.
West Red Lake Gold’s Rowan Property presently hosts a National Instrument 43-101 (“NI 43-101”) inferred mineral resource of 2,790,700 tonnes at an average grade of 9.2 grams per tonne Au containing 827,462 ounces of gold with a cut-off grade of 3.8 grams per tonne Au (NI 43-101 Technical Report authored by John Kita, P.Eng., dated December 13, 2022 and filed December 30, 2022 on sedar.com). The inferred resource is located in the area of the historic underground Rowan Mine site and situated within a 1.8 kilometer strike length portion of the regional scale Pipestone Bay St Paul Deformation Zone.
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 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 dedicated to creating value for its shareholders by discovering new gold mines in the highly productive Red Lake Gold District of Northwest Ontario, Canada. This district has yielded 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG holds an extensive property position spanning 3,100 hectares in West Red Lake, including three former gold mines - Rowan, Mount Jamie, and Red Summit - that are wholly owned by the Company. The West Red Lake Project covers a 12-kilometer strike length along the Pipestone Bay St. Paul Deformation Zone, and WRLG plans to continue exploring this property along strike and to depth aggressively in 2023.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Tom Meredith”
Tom Meredith
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: investors@westredlakegold.com or visit our website at https://www.westredlakegold.com
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.
Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
Photos accompanying this announcement are available at
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https://www.globenewswire.com/NewsRoom/AttachmentNg/cf9b6411-720b-48bd-beed-2b3783728b1d
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