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VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) — West Crimson Lake Gold Mines Ltd.
(“West Crimson Lake Gold” or “WRLG” or the “Firm”) (TSXV: WRLG)
(OTCQB: WRLGF) is happy to report preliminary drill outcomes from the Higher 8 Goal (“Higher 8”) from its 100% owned Madsen Property situated within the Crimson Lake Gold District of Northwestern Ontario, Canada.
The drill outcomes featured on this information launch are centered on the Higher 8 goal, which is a shallower geologic analog to the well-known high-grade 8-Zone. The Higher 8 goal is hosted throughout the identical lithologic unit (Russet Lake Ultramafic) roughly 750m up-plunge from the principle 8-Zone deposit (Determine 3). Its location in ultramafic rocks, its type of mineralization, and its exceptionally excessive grades make the 8 Zone geologically distinctive from the principle Madsen deposit. The 8 Zone at present incorporates an Indicated mineral useful resource of 87,700 ounces (“oz”) grading 18 grams per tonne (“g/t”) gold (“Au”), with an extra Inferred useful resource of 18,200 ozgrading 14.6 g/t Au.
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These are the primary drill outcomes introduced from an ongoing 10,000m floor exploration drilling program designed to check plenty of high-priority targets throughout the Madsen property (Figures 1 and a couple of). Particulars and goal descriptions for this program had been outlined in a earlier information launch dated August 10, 2024.
UPPER 8 HIGHLIGHTS:
- Gap WRL24-002 Intersected 4.1m @ 14.20 g/t Au, from 354.8m to 358.9m, Together with 1.3m @ 44.17 g/t Au, from 357.0m to 358.3m.
- Gap WRL24-003 Intersected 1.85m @ 6.33 g/t Au, from 332.45m to 334.30m, Together with 0.5m @ 20.63 g/t Au, from 333.8m to 334.3m.
Will Robinson, Vice President of Exploration, acknowledged, “The preliminary outcomes from Higher 8 drilling are fairly encouraging and never solely exhibit proof-of-concept for our regional concentrating on mannequin, but additionally reinforce our thesis that there’s very actual potential for discovery of one other 8-Zone sort deposit on our extremely potential Madsen property. The comparatively shallow place of Higher 8 permits for us to drill this goal successfully from floor with a excessive diploma of accuracy. With two out of three of the preliminary holes drilled at Higher 8 returning high-grade gold mineralization the place projected, we’re planning so as to add a second drill within the coming weeks devoted to drilling at Higher 8. The staff could be very excited to return to this space to proceed defining and rising this shallower 8-Zone analog.”
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Plan maps and sections for the Higher 8 drilling outlined on this launch are supplied in Figures 1 via 4.
TABLE 1. Vital intercepts (>1 g/t Au) from drilling at Higher 8 Goal.
Gap ID | Goal | From (m) | To (m) | Size (m)* | Au (g/t) |
WRL24-001 | Higher 8 | 286.65 | 287.15 | 0.50 | 1.26 |
WRL24-002 | Higher 8 | 333.41 | 337.41 | 4.00 | 1.66 |
Incl. | 336.91 | 337.41 | 0.50 | 5.07 | |
AND | Higher 8 | 341.05 | 341.55 | 0.50 | 2.40 |
AND | Higher 8 | 347.45 | 348.07 | 0.62 | 1.15 |
AND | Higher 8 | 350.21 | 351.13 | 0.92 | 5.20 |
AND | Higher 8 | 354.80 | 358.90 | 4.10 | 14.20 |
Incl. | 357.00 | 358.30 | 1.30 | 44.17 | |
WRL24-003 | Higher 8 | 287.60 | 289.10 | 1.50 | 2.11 |
Incl. | 288.10 | 288.60 | 0.50 | 4.28 | |
AND | Higher 8 | 332.45 | 334.30 | 1.85 | 6.33 |
Incl. | 333.80 | 334.30 | 0.50 | 20.63 |
*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. Inner 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 |
WRL24-001 | Higher 8 | 434914 | 5646577 | 407 | 401.8 | 278 | -56 |
WRL24-002 | Higher 8 | 434914 | 5646577 | 407 | 500.2 | 289 | -45 |
WRL24-003 | Higher 8 | 434914 | 5646577 | 407 | 500.3 | 289 | -49 |
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DISCUSSION:
Drilling on the Higher 8 goal is designed to check the projected, near-surface extension of the mineralized shear hall that hosts the extremely potential 8-Zone. The Higher 8 goal horizon was intercepted in just a few historic drill holes, which encountered a zone of robust shearing, alteration and quartz veining equal to 8-Zone type mineralization.
Latest drilling on the Higher 8 goal by WRLG has proven that gold mineralization is comparable in geological setting and magnificence because the deeper 8-Zone deposit. Elevated gold at Higher 8 is proven to happen inside deformed and recrystalized blue-grey quartz and quartz-sulphide veinlets. These veinlets are hosted inside shear domains, that are simply recognizable by their regionally intense deformation materials, and the presence of silica, biotite, potassium feldspar, and amphibole alteration.
The Higher 8 shear area is hosted throughout the Russet Lake Ultramafic, which additionally hosts the 8-Zone deposit, and the angle of shear emplacement of Higher 8 is sympathetic to the structural orientation noticed at 8-Zone. Recognition that the gold mineralization on the Higher 8 goal is comprised of transposed quartz veinlets inside a definable and recognizable shear hall gives glorious alternative for added drilling and enlargement potential.
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Excessive decision variations of all of the figures contained on this press launch may be discovered on the following internet handle: https://westredlakegold.com/october-1st-news-release-maps/
FIGURE 1. Regional Concentrating on Map for 2024 Floor Drilling Program at Madsen.
FIGURE 2. Regional Concentrating on Map for 2024 Floor Drilling Program at Madsen w/ Magnetics (RTP) Tilt Spinoff Overlay.
FIGURE 3. Sectional View of Higher 8 Goal relative to 8-Zone and Madsen deposits.[1] Notice the similarity in orientation of the Higher 8 shear boundary relative to orientation on the 8-Zone – suggests potential for sub-parallel buildings between 8-Zone and Higher 8.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please discuss 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 out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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FIGURE 4. Higher 8 Goal part view exhibiting assay highlights for Holes WRL24-001 via -003 and interpreted Higher 8 shear boundary.
QUALITY ASSURANCE/QUALITY CONTROL
Exploration drilling accomplished on floor on the Madsen Mine consists of oriented NQ-sized diamond drill core. 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 charge. Outcomes are assessed for accuracy, precision, and contamination on an ongoing foundation. The BQ-sized drill core is complete core sampled. The NQ-sized drill core is then minimize lengthwise using a diamond blade core noticed alongside a line pre-selected by the geologist. To scale back sampling bias, the identical aspect of drill core is sampled persistently using the orientation line as reference. For these samples containing seen gold (“VG”), a skilled geologist supervises the reducing/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 Crimson 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 > 10 g/t Au are reanalyzed by hearth assay with a gravimetric end on a 50g pattern (SGS Code GO_FAG50V). Samples with seen gold or returning gold values > 30 g/t Au are additionally analyzed by way of metallic display screen evaluation (SGS code: GO_FAS50M). For multi-element evaluation, samples are despatched to SGS’s facility in Burnaby, British Columbia and analyzed by way of 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 below 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 assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Mineral assets that aren’t mineral reserves would not have demonstrated financial viability. Please discuss 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 in the course of 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 out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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The technical info introduced on this information launch has been reviewed and accredited by Will Robinson, P.Geo., Vice President of Exploration for West Crimson Lake Gold and the Certified Particular person for exploration on the West Crimson Lake Undertaking, as outlined by NI 43-101 “Requirements of Disclosure for Mineral Initiatives”.
ABOUT WEST RED LAKE GOLD MINES
West Crimson Lake Gold Mines Ltd. is a mineral exploration firm that’s publicly traded and centered on advancing and creating its flagship Madsen Gold Mine and the related 47 km2 extremely potential land bundle within the Crimson Lake district of Ontario. The extremely productive Crimson 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 Crimson Lake, with an expansive property place masking 31 km2 together with three previous producing gold mines – Rowan, Mount Jamie, and Crimson Summit.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Government Officer
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Freddie Leigh
Tel: (604) 609-6132
E-mail: traders@wrgold.com or go to the Firm’s web site at https://www.westredlakegold.com
Neither the TSX Enterprise Trade nor its Regulation Providers 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 might represent “forward-looking info” throughout the that means of relevant securities legal guidelines. Ahead-looking info usually may be recognized by phrases corresponding to “anticipate”, “count on”, “estimate”, “forecast”, “deliberate”, and related expressions suggesting future outcomes or occasions. Ahead-looking info relies on present expectations of administration; nevertheless, it’s topic to identified and unknown dangers, uncertainties and different elements that will trigger precise outcomes to vary materially from the forward-looking info 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 info.
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Ahead-looking info contain quite a few dangers and uncertainties and precise outcomes may differ materially from outcomes steered in any forward-looking info. 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 modifications within the Firm’s enterprise plans. Ahead-looking info relies on plenty of key expectations and assumptions, together with with out limitation, that the Firm will proceed with its acknowledged enterprise targets and its skill to boost extra capital to proceed. Though administration of the Firm has tried to determine essential elements that would trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There may be no assurance that such forward-looking info will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such forward-looking info. Accordingly, readers shouldn’t place undue reliance on forward-looking info. Readers are cautioned that reliance on such info 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 yr ended November 30, 2023, and the Firm’s annual info type for the yr ended November 30, 2023, copies of which can be found on SEDAR+ at www.sedarplus.ca.
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The forward-looking info contained herein is expressly certified in its entirety by this cautionary assertion. Ahead-looking info displays administration’s present beliefs and relies on info at present obtainable to the Firm. The forward-looking info is made as of the date of this information launch and the Firm assumes no obligation to replace or revise such info to replicate new occasions or circumstances, besides as could also be required by relevant legislation.
For extra info on the Firm, traders ought to assessment the Firm’s steady disclosure filings which are obtainable on SEDAR+ at www.sedarplus.ca.
Images accompanying this announcement can be found at
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