TORONTO, Feb. 18, 2021 /CNW/ – West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) announces that it has completed the initial stage of exploration on the southern portion of the 100 metre wide, north-east trending NT Zone which lies on the West Red Lake Gold Project within the prolific Red Lake Gold District of Northwestern Ontario, Canada.
During the previous two years, West Red Lake Gold completed 10,866 metres of shallow drilling in 40 holes within the NT Zone over a distance of 1 km from West Red Lake Gold’s south property boundary along strike to the north-east. Several parallel gold zones containing high grade gold mineralization with surrounding lower grade, potential bulk tonnage gold mineralization, has been intersected from surface down to a depth of approximately 200 metres.
In the next stage of NT Zone drilling the objective is to explore and extend gold mineralization further along the NT Zone to the north-east for approximately 1 km where it intersects with the east-west trending Pipestone Bay St Paul Deformation Zone (“PBS Zone”) and folds around to the west along the north side of the Rowan Mine Gold Deposit (see map). West Red Lake Gold is also drilling approximately 10 shallow holes to target gold mineralization above the first level of the Rowan Mine.
Drill Highlights of Southern NT Zone Exploration Drilling (including previous news releases of January 30, 2019; January 15, 2020; and September 24, 2020) plus results reported today.
January 30, 2019:
14.18 gpt Au over 7.8 m from 85.2 m to 93 m at a dip of -55
6.51 gpt Au over 9.3 m from 59.5 m to 68.8 m at a dip of -55
13.80 gpt Au over 1.8 m from 100.2 m to 102 m at a dip of -45
3.76 gpt Au over 5.6 m from 62.7 m to 68.3 m at a dip of -45
January 15, 2020:
12.14 gpt Au over 13.5 m from 82.5 m to 96 m at a dip of -45
9.14 gpt Au over 7.5 m from 232m to 239.5 m at a dip of -50
5.38 gpt Au over 21.0 m from 132 m to 153 m at a dip of -60
11.13 gpt Au over 3.0 m from 41 m to 44 m at a dip of -45
September 24, 2020:
7.92 gpt Au over 3.0 m from 312 m to 315 m at a dip of -47
Incl. 14.71 gpt over 1.5 m
5.91 gpt Au over 6.0 m from 106.5 m to 112.5 m at a dip of -72
7.34 gpt Au over 1.5 m from 106.5 m to 108 m at a dip of -45
February 18, 2021:
10.16 gpt Au over 1.5 m from 140.5 m to 142 m at a dip of -45
10.36 gpt Au over 1.5 m from 192.5 m to 194 m at a dip of -45
2.94 gpt Au over 12.8 m from 213.5 m to 226.3 m at a dip of -45
Incl. 10.34 gpt over 1.5 m
Mr. John Kontak, President of West Red Lake Gold stated “We are very pleased that the exploration drill program successfully outlined gold mineralization along the southern 1 km portion the NT Zone. These drill results demonstrate that the 2 km long north-east trending NT Zone holds significant exploration potential both along strike and to greater depth.”
The 40 shallow holes reported in 2019, 2020 and today were drilled into the southern kilometer of the NT Zone which consists of a broad hydrothermal deformation zone comprised of ultramafic, mafic and felsic volcanics as well as iron formation. All the lithologies have undergone intensive pervasive hydrothermal alteration consisting of extensive sericitization, silicification and carbonatization. This results in a sequence of rocks consisting of predominately sericite, iron carbonate, silica / quartz and fuchsite. Sulphide mineralization, consisting of pyrite, pyrrhotite and sphalerite, is also associated with the alteration package.
The technical information presented in this news release has been reviewed and approved by Kenneth Guy, P.Geo., a consultant to West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”).
All drilling was completed using NQ size core. Gold analyses on the samples collected by West Red Lake Gold were performed by SGS Laboratories Ltd. Analysis consisted of a fire assay of a 50-gram sample with an atomic absorption finish. Samples assaying over 10.0 gpt Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance Program is in place using control samples including blanks and standards.
The Rowan Mine property presently hosts a National Instrument 43-101 (“NI 43-101”) inferred mineral resource of 4,468,900 tonnes at an average grade of 7.57 grams per tonne Au containing 1,087,700 ounces of gold with a cut-off grade of 3.0 grams per tonne (NI 43-101 Technical Report and Resource Estimate on the West Red Lake Project dated February 16, 2016 and filed on sedar.com). The inferred resource is located at the area of the historic underground Rowan Mine site and is situated within a 1.8 km strike length portion of the regional scale PBS Zone. The Rowan Mine Gold Deposit is located approximately 800 m northwest of the NT Zone.
About West Red Lake Gold Mines
West Red Lake Gold is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced 30 million ounces of gold from high grade zones. The Company has assembled a significant property position totalling 3,100 hectares in west Red Lake (the “West Red Lake Project”) which contains three former gold mines located 15 km west of the Red Lake mine complex. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 64%/36% joint venture with Evolution Mining Limited. The West Red Lake Project property covers a 12 km strike length along the Pipestone Bay St Paul Deformation Zone and the Company plans to continue to explore the property both along strike and to depth during 2021.
About Evolution Mining
Evolution Mining is a leading, growth-focused Australian gold miner. Evolution operates five wholly owned mines – Cowal in New South Wales, Mt Rawdon and Mt Carlton in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. In addition, Evolution holds an economic interest in the Ernest Henry copper-gold mine in Queensland. FY21 Group gold production is forecast to be between 670,000 – 730,000 ounces at an AISC of A$1,240 – A$1,300 per ounce.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news 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 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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SOURCE West Red Lake Gold Mines Inc.
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