TORONTO, Jan. 28, 2021 /CNW/ — West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (CSE: RLG.CN) (OTCQB: RLGMF) (FSE: HYK) is pleased to announce that exploration diamond drilling is planned to continue throughout 2021 on the West Red Lake Gold Project located in the prolific Red Lake Gold District of Northwestern Ontario, Canada.
During the first quarter of 2021, West Red Lake Gold plans to drill along the northern 1 km of the NT Zone as follow-up to successful drill results generated over the southern 1 km portion of the NT Zone during 2019 and 2020. The northern portion of the NT Zone continues to trend north-east before it folds around to the north-west and to the north side of the Rowan Mine. The folding of the NT Zone occurs where it intersects with the east-west trending Pipestone Bay St Paul Deformation Zone (“PBS Zone”) which hosts the Rowan, Mount Jamie and Red Summit Mines which are all located on the West Red Lake Project property.
During 2021, after drilling the north-eastern 1 km portion of the NT Zone (see map), West Red Lake Gold plans to carry out deeper drilling below positive results previously reported in the southern 1 km portion of the NT Zone.
Mr. John Kontak, President of West Red Lake Gold Mines stated, “We are very pleased to begin to explore the second kilometer of the NT Zone for expansion of gold mineralization further along the geological strike to the north-east. After the expansion drilling along strike takes place, the Company also plans to expand the entire 2 km strike length of the NT Zone to greater depth”.
West Red Lake Gold also plans to drill approximately 10 shallow holes to target gold mineralization above the first level of the Rowan Mine. Only minimal drilling has been undertaken to date in the area where historic sampling on the first mine level and at surface indicate good potential for a gold-rich surface bulk sample sometime in the future. (NI 43-101 Rowan Mine Mineral Resource: 4,468,900 tonnes grading 7.57 gpt Au for 1,087,700 inferred oz of Au from the Technical Report and Resource Estimate on the West Red Lake Project filed on February 18, 2016 authored by John C. Archibald, B.Sc., P.Geo. and Peter Bevan, P.Eng., and John Kita, P.Eng.).
The Company also announces the grant of 2,900,000 options at an exercise price of $0.12 for a term of 2 years to service providers.
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”).
About West Red Lake Gold
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.
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 Mines 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.
SOURCE West Red Lake Gold Mines Inc.
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