Updates on Madsen Mine Operations and Future Prospects

Transformative Updates on Madsen Mine Operations

Vancouver, British Columbia – West Red Lake Gold Mines Ltd. (TSXV: WRLG, OTCQB: WRLGF) is making notable progress with its Madsen Mine ramp-up operations. Although the journey has been marked by challenges, particularly a tragic event on-site, the company remains focused on enhancing its mining processes and achieving operational goals.

Impact of Recent Events on Operations

Following a serious incident on June 16, operations temporarily halted at both the mine and the milling facilities. Fortunately, after approximately 40 hours, the milling activities resumed, closely followed by the mining operations, which restarted only 12 hours later. Safety remains the paramount concern as the company carefully ramps up mining efforts.

Progress in Mining Operations

Shane Williams, the President and CEO of West Red Lake Gold, expressed optimism, stating, "With the clear exception of the tragic underground incident, ramp-up at the Madsen Mine is progressing well." In June, they observed a significant increase in mill head grades as they transitioned from lower-grade, stockpiled materials to freshly mined ore that is anticipated to better reflect the average grades.

Operational Metrics and Future Goals

Currently, the mill operates consistently at 650 tonnes per day with a remarkable gold recovery rate of 95%. This level of operation has been evaluated multiple times without issues, underscoring the reliability of their new equipment. The anticipated influx of additional ramp-up equipment should allow further mining rate increases as more areas become accessible.

Insights into Mineral Recovery and Sales

As a testament to their ongoing operation, the company has sold an impressive 5,250 ounces of gold this year at an average price of USD 3,330 per ounce. Another gold pour is expected as the company continues to leverage its milling capabilities and operational strategies.

Equipment Expansion and Innovations

To enhance their mining capacity, West Red Lake Gold is actively expanding its fleet of equipment. Recent arrivals include a R1300G Caterpillar Scoop loader, with further additions scheduled to arrive in the coming months, including additional haul trucks and underground drills.

Drilling and Exploration Advancements

This year, the two underground drills have achieved a total of 38,393 meters of definition drilling. The latest focus has been on expanding and defining the high-grade lenses in the South Austin area, highlighting the company’s commitment to exploration and resource expansion.

Understanding West Red Lake Gold Mines

West Red Lake Gold Mines Ltd. is dedicated to developing its flagship Madsen Gold Mine, strategically positioned in a region famed for its exceptional mineral deposits. The company holds substantial land in the Red Lake district, with ongoing efforts to capitalize on the area's rich history of gold production. Notably, the area has historically produced over 30 million ounces of gold, confirming its status as a powerhouse for high-grade gold mining.

Company Leadership and Vision

Under the leadership of Shane Williams, the company is well-positioned to navigate challenges, prioritize safety, and drive towards their operational goals. Their strategic vision emphasizes not only immediate ramp-up objectives but also long-term sustainability and profitability.

Frequently Asked Questions

What recent updates has West Red Lake Gold provided?

The company has updated its ramp-up operations at the Madsen Mine, focusing on improvements in mining safety and production efficiency.

How has the incident on June 16 affected operations?

Operations were temporarily halted at both the mine and mill following the incident, but both resumed quickly with an emphasis on safety.

What is the current production rate at the Madsen Mine?

The mill is currently producing 650 tonnes per day with a gold recovery rate of 95%.

What are the company’s future plans for mining operations?

West Red Lake Gold plans to increase mining rates and expand its fleet of equipment to enhance operational capacity.

How much gold has the company sold this year?

The company has sold 5,250 ounces of gold year to date with plans for further gold production.

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