West Red Lake Gold Commences Drilling at the NT Zone
Toronto, Ontario--(Newsfile Corp. - October 8, 2020) - West Red Lake Gold Mines Inc. (CSE: RLG) (OTCQB: RLGMF) (FSE: HYK) ("West Red Lake Gold" or the "Company") is pleased to announce that exploration drilling is underway on the high-grade, near surface gold zones situated at the NT Zone structure located in the prolific Red Lake Gold District of northwestern Ontario, Canada.
The initial phase of the exploration program in October and November 2020 will be approximately 12 drill holes totalling an estimated 4,000 m. The drill holes are targeting below the positive results from the NT Zone intersected to date and further along strike to the northeast within the NT Zone structure. After a break during the month of December the Company plans to start drilling again in January 2021.
The 2 km long northeast trending NT Zone remains open for ongoing exploration. The initial three drill programs conducted over the past two years have returned positive near surface results from the southern 600 m portion of the NT Zone (see news releases dated January 30, 2019, January 15, 2020 and September 24, 2020). Further north beyond the 2 km long NT Zone is the Structural Intersection target with an area of approximately 700 m x 700 m. The Structural Intersection target area is where the northeast trending NT Zone intersects with the east-west trending Pipestone Bay St Paul Deformation Zone ("PBS Zone") which hosts the Rowan Mine gold deposit (NI 43-101 mineral resource report dated February 16, 2016 and filed on sedar.com: 4,468,900 t grading 7.57 gpt Au for 1,087,700 inferred oz of Au).
The NT Zone is located on the Rowan Joint Venture portion of the West Red Lake Project and is approximately 100 m wide and trends northeast from the southern property boundary for a distance of 2 kms to where this regional scale structure intersects with the east-west trending PBS Zone. The area of planned exploration work on the southern portion of the NT Zone is located approximately 800 m south of the Rowan Mine gold deposit.
The NT Zone is a large-scale alteration/deformation zone. The scale and style of the iron-carbonate alteration within the NT Zone is interpreted to be associated with large multi-stage hydrothermal systems. Gold mineralization in the NT Zone is associated with silica/sulphide replacement of the iron-carbonate zones within altered volcanic and sedimentary rocks.
Mr. John Kontak, President of West Red Lake Gold stated: "We are increasing the amount of drilling on the West Red Lake Project to continue the expansion of property gold mineralization. We believe the project has a potential which may be multiples of the mineral resource outlined to date. Ongoing drilling in 2020 and 2021 is planned for expansion of gold zones and new discoveries."
The Rowan Mine property is situated in the Red Lake Archean Greenstone Belt which hosts the high-grade gold mines of the Red Lake Gold District. Twenty kms to the east of the Company property are the world class Red Lake Mine and Campbell Mine, which have a geologically similar setting illustrating the exploration potential for high-grade gold zones on the Company's West Red Lake Project - which hosts three former gold mines.
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 Mines Inc.
West Red Lake Gold Mines 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.
About Evolution Mining Limited
Evolution Mining is a leading, growth-focused global mid-tier gold miner. Evolution operates four wholly-owned mines in Australia - Cowal in New South Wales, Mungari in Western Australia, and Mt Carlton and Mt Rawdon in Queensland. The Company also holds an economic interest in the Ernest Henry copper-gold mine in Queensland, Australia. In April 2020 Evolution acquired a 100% interest in the Red Lake gold mine in Ontario, Canada. In the 2021 Financial Year Evolution is guiding gold production of 670,000 - 730,000 ounces at an All-In Sustaining Cost of US$900 - US$940 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65551