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VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — West Pink Lake Gold Mines Ltd.
(“West Pink Lake Gold” or “WRLG” or the “Firm”) (TSXV: WRLG)
(OTCQB: WRLGF) is happy to report drill outcomes from its 100% owned Madsen Mine positioned within the Pink Lake Gold District of Northwestern Ontario, Canada.
The drill outcomes featured on this information launch are centered on the high-grade South Austin Zone, which presently incorporates an Indicated mineral useful resource of 474,600 ounces (“oz”) grading 8.7 grams per tonne (“g/t”) gold (“Au”), with an extra Inferred useful resource of 31,800 ouncesgrading 8.7 g/t Au.
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The aim of this drilling was definition inside precedence areas of South Austin to proceed constructing an stock of high-confidence ounces to assist the restart of manufacturing on the Madsen mine, which is predicted to start in 2025. The Firm expects to finish a pre-feasibility research outlining its restart plans in This fall.
SOUTH AUSTIN ZONE HIGHLIGHTS:
- Gap MM24D-08-4447-035 Intersected 4.48m @ 49.39 g/t Au, from 114.91m to 119.39m, Together with 2.5m @ 76.51 g/t Au, from 116.0m to 118.5m.
- Gap MM24D-08-4447-025 Intersected 11.2m @ 18.46 g/t Au, from 106.0m to 117.2m, Together with 4m @ 34.41 g/t Au, from 107m to 111m, Additionally together with 0.5m @ 10.21 g/t Au, from 113.0m to 113.5m, Additionally together with 1.5m @ 32.13 g/t Au, from 114.5m to 116.0m.
- Gap MM24D-08-4447-033 Intersected 1.74m @ 74.92 g/t Au, from 100.26m to 102.00m.
- Gap MM24D-08-4447-028 Intersected 4m @ 20.63 g/t Au, from 118.5m to 122.5m, Together with 0.7m @ 95.59 g/t Au, from 120.3m to 121.0m.
- Gap MM24D-08-4447-019 Intersected 6.3m @ 12.38 g/t Au, from 105.0m to 111.3m, Together with 1m @ 31.39 g/t Au, from 106m to 107m, Additionally together with 2m @ 17.19 g/t Au, from 108m to 110m.
- Gap MM24D-08-4447-014 Intersected 3.3m @ 15.69 g/t Au, from 74.05m to 77.35m, Together with 0.8m @ 39.93 g/t Au, from 75.0m to 75.8m, Additionally together with 0.5m @ 19.43 g/t Au, from 76.85m to 77.35m.
- Gap MM24D-08-4447-016 Intersected 5m @ 9.16 g/t Au, from 89m to 94m, Together with 1m @ 35.00 g/t Au, from 89m to 90m.
- Gap MM24D-08-4447-023 Intersected 2.2m @ 19.05 g/t Au, from 111.7m to 113.9m, Together with 1.65m @ 22.77 g/t Au, from 112.25m to 113.90m.
- Gap MM24D-08-4447-020 Intersected 6.5m @ 6.19 g/t Au, from 105.0m to 111.5m, Together with 0.5m @ 21.81 g/t Au, from 110.5m to 111.0m.
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Shane Williams, President & CEO, acknowledged, “The group is doing a implausible job advancing the definition drilling program at Madsen that’s important for growing a list of high-confidence ounces to assist the mine restart plan and our aim of getting Madsen again into manufacturing by H2 2025. The intercepts out of South Austin highlighted on this replace are proper on par with the distinctive outcomes out of the Austin and McVeigh zones which were introduced over the past month. This consistency and high quality between totally different mineral zones assist to exhibit the potential we see throughout the entirety of the Madsen deposit.”
Plan maps and part for the Austin and McVeigh drilling outlined on this launch are supplied in Figures 1 by way of 8. To see these drill holes within the context of a three-d mannequin of the Madsen undertaking mineral useful resource, click on right here. https://vrify.com/editor/decks/16990
TABLE 1. Important intercepts (>3 g/t Au) from drilling at Austin Zone.
Gap ID | Goal | From (m) | To (m) | Size (m)* | Au (g/t) |
MM24D-08-4447-001 | South Austin | 101.09 | 105.00 | 3.91 | 7.08 |
Incl. | 102.00 | 103.00 | 1.00 | 13.25 | |
AND | South Austin | 114.00 | 117.60 | 3.60 | 7.76 |
Incl. | 116.00 | 117.00 | 1.00 | 17.67 | |
MM24D-08-4447-002 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-003 | South Austin | 108.00 | 110.87 | 2.87 | 6.65 |
Incl. | 109.40 | 109.95 | 0.55 | 12.86 | |
MM24D-08-4447-004 | South Austin | 85.04 | 87.00 | 1.96 | 5.81 |
Incl. | 86.00 | 87.00 | 1.00 | 10.64 | |
AND | South Austin | 96.00 | 97.50 | 1.50 | 5.76 |
Incl. | 96.00 | 96.52 | 0.52 | 11.38 | |
MM24D-08-4447-005 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-006 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-007 | South Austin | 110.00 | 111.00 | 1.00 | 3.17 |
MM24D-08-4447-008 | South Austin | 93.00 | 94.00 | 1.00 | 4.86 |
MM24D-08-4447-009 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-010 | South Austin | 91.00 | 92.00 | 1.00 | 4.67 |
MM24D-08-4447-011 | South Austin | 102.69 | 104.00 | 1.31 | 5.91 |
MM24D-08-4447-012 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-013 | South Austin | 94.00 | 97.00 | 3.00 | 3.42 |
AND | South Austin | 103.70 | 105.10 | 1.40 | 20.28 |
MM24D-08-4447-014 | South Austin | 74.05 | 77.35 | 3.30 | 15.69 |
Incl. | 75.00 | 75.80 | 0.80 | 39.93 | |
Additionally Incl. | 76.85 | 77.35 | 0.50 | 19.43 | |
MM24D-08-4447-015 | South Austin | 109.00 | 109.70 | 0.70 | 3.62 |
MM24D-08-4447-016 | South Austin | 89.00 | 94.00 | 5.00 | 9.16 |
Incl. | 89.00 | 90.00 | 1.00 | 35.00 | |
MM24D-08-4447-017 | South Austin | 77.00 | 79.85 | 2.85 | 3.71 |
AND | South Austin | 88.00 | 89.00 | 1.00 | 3.24 |
MM24D-08-4447-018 | South Austin | 107.00 | 109.00 | 2.00 | 3.82 |
MM24D-08-4447-019 | South Austin | 105.00 | 111.30 | 6.30 | 12.38 |
Incl. | 106.00 | 107.00 | 1.00 | 31.39 | |
Additionally Incl. | 108.00 | 110.00 | 2.00 | 17.19 | |
MM24D-08-4447-020 | South Austin | 93.45 | 96.00 | 2.55 | 3.42 |
AND | South Austin | 105.00 | 111.50 | 6.50 | 6.19 |
Incl. | 110.50 | 111.00 | 0.50 | 21.81 | |
AND | South Austin | 112.00 | 113.00 | 1.00 | 3.63 |
MM24D-08-4447-021 | South Austin | 98.00 | 100.00 | 2.00 | 3.36 |
MM24D-08-4447-022 | South Austin | 98.00 | 98.50 | 0.50 | 20.77 |
AND | South Austin | 102.00 | 102.60 | 0.60 | 29.57 |
MM24D-08-4447-023 | South Austin | 111.70 | 113.90 | 2.20 | 19.05 |
Incl. | 112.25 | 113.90 | 1.65 | 22.77 | |
MM24D-08-4447-024 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-025 | South Austin | 106.00 | 117.20 | 11.20 | 18.46 |
Incl. | 107.00 | 111.00 | 4.00 | 34.41 | |
Additionally Incl. | 113.00 | 113.50 | 0.50 | 10.21 | |
Additionally Incl. | 114.50 | 116.00 | 1.50 | 32.13 | |
MM24D-08-4447-026 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-027 | South Austin | 114.00 | 114.80 | 0.80 | 3.82 |
AND | South Austin | 125.90 | 126.40 | 0.50 | 8.40 |
MM24D-08-4447-028 | South Austin | 118.50 | 122.50 | 4.00 | 20.63 |
Incl. | 120.30 | 121.00 | 0.70 | 95.59 | |
MM24D-08-4447-029 | South Austin | 120.25 | 124.00 | 3.75 | 3.06 |
AND | South Austin | 125.95 | 128.00 | 2.05 | 3.53 |
MM24D-08-4447-030 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-031 | South Austin | 95.00 | 96.80 | 1.80 | 16.06 |
MM24D-08-4447-032 | South Austin | 88.95 | 89.80 | 0.85 | 3.50 |
AND | South Austin | 91.45 | 94.00 | 2.55 | 3.47 |
MM24D-08-4447-033 | South Austin | 100.26 | 102.00 | 1.74 | 74.92 |
MM24D-08-4447-034 | South Austin | No Assays > 3 g/t Au | |||
MM24D-08-4447-035 | South Austin | 114.91 | 119.39 | 4.48 | 49.39 |
Incl. | 116.00 | 118.50 | 2.50 | 76.51 |
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*The “From-To” intervals in Desk 1 are denoting general downhole size of the intercept. True thickness has not been calculated for these intercepts however is predicted to be ≥ 70% of downhole thickness based mostly on intercept angles noticed within the drill core. Inside dilution for composite intervals doesn’t exceed 1m for samples grading <0.1 g/t Au.
TABLE 2: Drill collar abstract for holes reported on this Information Launch.
Gap ID | Goal | Easting | Northing | Elev (m) | Size (m) | Azimuth | Dip |
MM24D-08-4447-001 | South Austin | 435513 | 5646365 | 9 | 50.6 | 125 | -24 |
MM24D-08-4447-002 | South Austin | 435513 | 5646365 | 9 | 83.0 | 136 | -18 |
MM24D-08-4447-003 | South Austin | 435513 | 5646365 | 9 | 88.8 | 138 | -26 |
MM24D-08-4447-004 | South Austin | 435513 | 5646365 | 9 | 81.0 | 139 | -17 |
MM24D-08-4447-005 | South Austin | 435513 | 5646365 | 9 | 95.1 | 139 | -31 |
MM24D-08-4447-006 | South Austin | 435513 | 5646365 | 9 | 75.2 | 141 | -18 |
MM24D-08-4447-007 | South Austin | 435513 | 5646365 | 9 | 111.0 | 143 | -24 |
MM24D-08-4447-008 | South Austin | 435513 | 5646365 | 9 | 100.3 | 146 | -10 |
MM24D-08-4447-009 | South Austin | 435513 | 5646365 | 9 | 105.0 | 146 | -17 |
MM24D-08-4447-010 | South Austin | 435513 | 5646365 | 9 | 102.3 | 147 | -6 |
MM24D-08-4447-011 | South Austin | 435513 | 5646365 | 9 | 111.0 | 147 | -14 |
MM24D-08-4447-012 | South Austin | 435513 | 5646365 | 9 | 81.0 | 149 | -23 |
MM24D-08-4447-013 | South Austin | 435513 | 5646365 | 9 | 90.0 | 148 | -13 |
MM24D-08-4447-014 | South Austin | 435513 | 5646365 | 9 | 75.0 | 151 | -7 |
MM24D-08-4447-015 | South Austin | 435513 | 5646365 | 9 | 57.0 | 151 | -16 |
MM24D-08-4447-016 | South Austin | 435513 | 5646365 | 9 | 66.0 | 155 | -11 |
MM24D-08-4447-017 | South Austin | 435513 | 5646365 | 9 | 60.0 | 155 | -7 |
MM24D-08-4447-018 | South Austin | 435513 | 5646365 | 9 | 90.0 | 155 | -25 |
MM24D-08-4447-019 | South Austin | 435513 | 5646365 | 9 | 63.0 | 155 | -16 |
MM24D-08-4447-020 | South Austin | 435513 | 5646365 | 9 | 72.0 | 160 | -13 |
MM24D-08-4447-021 | South Austin | 435513 | 5646365 | 9 | 78.0 | 160 | -9 |
MM24D-08-4447-022 | South Austin | 435513 | 5646365 | 9 | 84.0 | 162 | -20 |
MM24D-08-4447-023 | South Austin | 435513 | 5646365 | 9 | 66.0 | 162 | -24 |
MM24D-08-4447-024 | South Austin | 435513 | 5646365 | 9 | 72.0 | 163 | -10 |
MM24D-08-4447-025 | South Austin | 435513 | 5646365 | 9 | 66.0 | 163 | -15 |
MM24D-08-4447-026 | South Austin | 435513 | 5646365 | 9 | 63.0 | 167 | -21 |
MM24D-08-4447-027 | South Austin | 435513 | 5646365 | 9 | 75.0 | 167 | -16 |
MM24D-08-4447-028 | South Austin | 435513 | 5646365 | 9 | 66.0 | 169 | -26 |
MM24D-08-4447-029 | South Austin | 435513 | 5646365 | 9 | 63.0 | 173 | -8 |
MM24D-08-4447-030 | South Austin | 435513 | 5646365 | 9 | 75.0 | 173 | -25 |
MM24D-08-4447-031 | South Austin | 435513 | 5646365 | 9 | 75.0 | 173 | -21 |
MM24D-08-4447-032 | South Austin | 435513 | 5646365 | 9 | 85.0 | 173 | -15 |
MM24D-08-4447-033 | South Austin | 435513 | 5646365 | 9 | 72.0 | 173 | -19 |
MM24D-08-4447-034 | South Austin | 435513 | 5646365 | 9 | 66.0 | 171 | -18 |
MM24D-08-4447-035 | South Austin | 435513 | 5646365 | 9 | 69.0 | 171 | -24 |
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DISCUSSION
Accessed by way of the Madsen Mine West Portal, the South Austin Zone sits south within the hanging wall of the primary Austin Zone. Like the opposite mineralized domains that comprise the Madsen Mine, the South Austin construction is hosted inside broad, kilometer-scale planar alteration and deformation corridors which were repeatedly reactivated throughout gold mineralization and subsequent deformation and metamorphism.
On the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are domestically folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. Along with this intense deformation overprint, the mineralized veins and alteration have been subjected to the comparatively excessive temperatures of amphibolite facies metamorphism, which led to intensive recrystallization and development of the skarn-like substitute mineral assemblage of diopside-amphibole-quartz-biotite.
All important gold mineralization on the mine property is demonstrably early relative to probably the most important, penetrative deformation (D2) and metamorphic occasions. The North Austin Zone shows ‘mine-style’ alteration and mineralization and consists of a number of mineralized domains outlined over a strike size of 0.5km. Mineralization stays open at depth and alongside strike to the northeast.
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In drill core, or at underground face exposures, gold-bearing zones on the Madsen Mine are greatest recognized visually by positive (sub-millimetre) grains of free gold inside sturdy alteration and veining. All high-grade intervals usually include seen gold on drill core exteriors, though quite a few examples exist of high-grade assays the place seen gold was solely recognized throughout the inside (reduce floor) of the core samples. Other than the presence of free gold, pervasive silicification (domestically accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the perfect indicators {that a} given interval is inside a high-grade zone alongside/throughout the mineralized construction.
The present underground drilling program on the Madsen Mine is concentrated on additional definition of near-term mining stock, in addition to development of the present mineral useful resource. Drilling has been centered on the extra steady and higher-grade parts of the Austin, South Austin, North Austin and McVeigh Zones. It will proceed to be the technique by way of 2024.
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Excessive decision variations of all of the figures contained on this press launch may be discovered on the following internet deal with: https://westredlakegold.com/september-Twenty fourth-news-release-maps/
FIGURE 1. Madsen Mine lengthy part displaying location of 08-4447 Drill Bay within the South Austin Zone.[1]
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 2. South Austin plan view drill part displaying assay highlights for Holes MM24D-08-4447-001 by way of -035.[1]
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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FIGURE 3. South Austin part view displaying assay highlights for Holes MM24D-08-4447-001 by way of -007.[1]
Holes -002 by way of -007 broke into historic stopes.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 4. South Austin part view displaying assay highlights for Holes MM24D-08-4447-008 by way of -012.[1]
Holes -008, -009, -011 and –012 broke into historic stopes.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca
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FIGURE 5. South Austin part view displaying assay highlights for Holes MM24D-08-4447-013 by way of -016.[1] Holes -013, -015 and -016 broke into historic stopes.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 6. South Austin part view displaying assay highlights for Holes MM24D-08-4447-017 by way of -021.[1] Holes -018 by way of -021 broke into historic stopes.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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FIGURE 7. South Austin part view displaying assay highlights for Holes MM24D-08-4447-022 by way of -028.[1]
Gap -025 broke right into a historic stope.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 8. South Austin part view displaying assay highlights for Holes MM24D-08-4447-029 by way of -035.[1]
Holes -033 and -034 broke into historic stopes.
[1] Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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QUALITY ASSURANCE/QUALITY CONTROL
Drilling accomplished underground on the Madsen Mine consists of BQ-sized diamond drill core for definition drill packages and oriented NQ-sized diamond drill core for exploration centered drilling. All drill holes are systematically logged, photographed, and sampled by a skilled geologist on the Madsen Mine core processing facility. Minimal allowable pattern size is 0.5m. Most allowable pattern size is 1.5m. Management samples (licensed requirements and uncertified blanks), alongside duplicates, are inserted at a goal 5% insertion fee. Outcomes are assessed for accuracy, precision, and contamination on an ongoing foundation. The BQ-sized drill core is entire core sampled. The NQ-sized drill core is then reduce lengthwise using a diamond blade core noticed alongside a line pre-selected by the geologist. To cut back sampling bias, the identical facet of drill core is sampled constantly using the orientation line as reference. For these samples containing seen gold (“VG”), a skilled geologist supervises the slicing/bagging of these samples, and ensures the core noticed blade is ‘cleaned’ with a dressing stone following the VG pattern interval. Bagged samples are then sealed with zip ties and transported by Madsen Mine personnel on to SGS Pure Useful resource’s Facility in Pink Lake, Ontario for assay.
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Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2mm. A riffle splitter is then utilized to provide a 500g course reject for archive. The rest of the pattern is then pulverized to 85% passing 75 microns from which 50g is analyzed by hearth assay and an atomic absorption spectroscopy (AAS) end (SGS Code GO-FAA50V10). Samples returning gold values > 100 g/t Au are reanalyzed by hearth assay with a gravimetric end on a 50g pattern (SGS Code GO_FAG50V). Samples with seen gold are additionally analyzed through metallic display evaluation (SGS code: GO_FAS50M). For multi-element evaluation, samples are despatched to SGS’s facility in Burnaby, British Columbia and analyzed through four-acid digest with an atomic emission spectroscopy (ICP-AES) end for 33-element evaluation on 0.25g pattern pulps (SGS code: GE_ICP40Q12). SGS Pure Sources analytical laboratories operates beneath a High quality Administration System that complies with ISO/IEC 17025.
The Madsen Mine deposit presently hosts a Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) Indicated useful resource of 1.65 million ounces (“Moz”) of gold grading 7.4 g/t Au and an Inferred useful resource of 0.37 Moz of gold grading 6.3 g/t Au. Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Mineral sources that aren’t mineral reserves don’t have demonstrated financial viability. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024 (the “Madsen Report”). The Madsen Useful resource Estimate has an efficient date of December 31, 2021 and excludes depletion of mining exercise throughout the interval from January 1, 2022 to the mine closure on October 24, 2022 because it has been deemed immaterial and never related for the aim of the Madsen Report. A full copy of the Madsen Report is obtainable on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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The technical data introduced on this information launch has been reviewed and permitted by Will Robinson, P.Geo., Vice President of Exploration for West Pink Lake Gold and the Certified Particular person for exploration on the West Pink Lake Venture, as outlined by NI 43-101 “Requirements of Disclosure for Mineral Initiatives”.
GRANT OF RESTRICTED SHARE UNITS
The Firm additionally proclaims the grant of restricted share items (“RSUs”) in accordance with the Firm’s restricted share unit, efficiency share unit, and deferred share unit compensation plan. Sure Officers and workers of the Firm have been granted an combination of 450,000 RSUs which can vest over three years in three equal tranches on the primary, second and third anniversary of the grant date. The grant of RSUs is topic to regulatory acceptance of the TSX Enterprise Trade.
ABOUT WEST RED LAKE GOLD MINES
West Pink Lake Gold Mines Ltd. is a mineral exploration firm that’s publicly traded and centered on advancing and growing its flagship Madsen Gold Mine and the related 47 km2 extremely potential land bundle within the Pink Lake district of Ontario. The extremely productive Pink Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts a number of the world’s richest gold deposits. WRLG additionally holds the wholly owned Rowan Property in Pink Lake, with an expansive property place masking 31 km2 together with three previous producing gold mines – Rowan, Mount Jamie, and Pink Summit.
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ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Govt Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Freddie Leigh
Tel: (604) 609-6132
E-mail: buyers@wrgold.com or go to the Firm’s web site at https://www.westredlakegold.com
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
FORWARD-LOOKING INFORMATION
Sure statements contained on this information launch could represent “forward-looking data” throughout the that means of relevant securities legal guidelines. Ahead-looking data usually may be recognized by phrases comparable to “anticipate”, “anticipate”, “estimate”, “forecast”, “deliberate”, and comparable expressions suggesting future outcomes or occasions. Ahead-looking data is predicated on present expectations of administration; nonetheless, it’s topic to recognized and unknown dangers, uncertainties and different components that will trigger precise outcomes to vary materially from the forward-looking data on this information launch and embrace with out limitation, statements regarding plans for the potential restart of mining operations on the Madsen Mine, the potential of the Madsen Mine; any untapped development potential within the Madsen deposit or Rowan deposit; timing of pre-feasibility research and the Firm’s future targets and plans. Readers are cautioned to not place undue reliance on forward-looking data.
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Ahead-looking data contain quite a few dangers and uncertainties and precise outcomes would possibly differ materially from outcomes urged in any forward-looking data. These dangers and uncertainties embrace, amongst different issues, market volatility; the state of the monetary markets for the Firm’s securities; fluctuations in commodity costs; timing and outcomes of the cleanup and restoration on the Madsen Mine; and adjustments within the Firm’s enterprise plans. Ahead-looking data is predicated on quite a few key expectations and assumptions, together with with out limitation, that the Firm will proceed with its acknowledged enterprise targets and its potential to lift further capital to proceed. Though administration of the Firm has tried to establish essential components that would trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There may be no assurance that such forward-looking data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such forward-looking data. Accordingly, readers shouldn’t place undue reliance on forward-looking data. Readers are cautioned that reliance on such data is probably not applicable for different functions. Further details about dangers and uncertainties is contained within the Firm’s administration’s dialogue and evaluation for the 12 months ended November 30, 2023, and the Firm’s annual data type for the 12 months ended November 30, 2023, copies of which can be found on SEDAR+ at www.sedarplus.ca.
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The forward-looking data contained herein is expressly certified in its entirety by this cautionary assertion. Ahead-looking data displays administration’s present beliefs and is predicated on data presently out there to the Firm. The forward-looking data is made as of the date of this information launch and the Firm assumes no obligation to replace or revise such data to mirror new occasions or circumstances, besides as could also be required by relevant regulation.
For extra data on the Firm, buyers ought to overview the Firm’s steady disclosure filings which are out there on SEDAR+ at www.sedarplus.ca.
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https://www.globenewswire.com/NewsRoom/AttachmentNg/3b018266-6585-4444-b577-c428b06d2027
https://www.globenewswire.com/NewsRoom/AttachmentNg/68a98016-a353-4f6f-b38d-5ab60905f686
https://www.globenewswire.com/NewsRoom/AttachmentNg/c323853d-ca27-4911-9981-87b4eacbfc3a
https://www.globenewswire.com/NewsRoom/AttachmentNg/b80d1dcc-9b35-496e-840b-94cebe450b7b
https://www.globenewswire.com/NewsRoom/AttachmentNg/659de9fa-0fe1-4f4a-b79b-8791dafff0c5
https://www.globenewswire.com/NewsRoom/AttachmentNg/7af663d2-4cac-4162-8b68-ab41501e534c
https://www.globenewswire.com/NewsRoom/AttachmentNg/803ad9ce-e032-4e99-bddf-c29fa8479b52
https://www.globenewswire.com/NewsRoom/AttachmentNg/7710de20-e88e-4d13-8d32-945b58aadace
https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0e3715-0857-4bba-aae6-8056d690fb23
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