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Both price targets predict over 200% upside from here. When I watch Shane Williams interviews or read his emails I sense a confidence in the Madsen plan especially at these gold prices.
Shane is not slick or flashy. Just someone who has been there and done that before.
West Red Lake Gold Mines Ltd. (OTCQB: WRLGF) (TSXV: WRLG) is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario.
The Company property is situated on the Red Lake Archean Greenstone Belt, which hosts the high-grade gold mines of the Red Lake Gold District.
The 3100 hectare West Red Lake Project has 12km of strike length on the regional east-west trending Pipestone Bay St Paul Deformation Zone. Three former gold mines – Rowan Mine, Mount Jamie Mine, and Red Summit Mine – are all situated along the deformation zone on the Company property.
A second regional gold bearing structure, the NT Zone, trends northeast on to the property and intersects with the Pipestone Bay St Paul Deformation Zone approximately 1km east of the Rowan Mine.
The Rowan Mine property is comprised of 119 claims, 50 patented, 18 leased, and 49 staked claims. The Rowan Mine property hosts significant regional gold bearing structures which intersect near the former producing Rowan Mine. The Rowan Mine was in development from the late 1930s to the 1950s with mine workings consisting of a vertical shaft, three levels including an adit on the first level, and underground exploration of drifting and raising along several gold zones.
The Rowan Mine property is located on a gold-bearing structure known as the Pipestone Bay St Paul Deformation Zone, which continues east to the town of Red Lake. Gold zones are hosted within a sequence of altered mafic volcanics, felsic volcanics, porphyries, and ultramafics.
The Balmer-Confederation aged unconformity, folded iron formations, and ultramafic units on the northern and southern portions of the Rowan Mine property have been shown to be prime hosts for gold deposition in the Red Lake Gold District to depths exceeding 2000m. The three former gold mines on the West Red Lake Project are situated on the Pipestone Bay St Paul Deformation Zone.
The NT Zone, which strikes northeast onto the property from the neighboring Newman Todd property operated by Trillium Gold Inc, intersects with the Pipestone Bay St Paul Deformation Zone, forming the highly prospective Structural Intersection target area located 1.5 kilometers east of the Rowan Mine Shaft.
Rowan Mine Deposit
The Rowan Deposit Gold Zones have an established strike length of 1200m and remain open at depth. The Rowan Mine Gold Zones have been explored to a depth of less than 500m and contain several high grade gold zones which are a primary target of exploration for expansion to depth.
NT Zone
The goldbearing NT Zone is 2km in length and hosts several high grade gold zones.
Structural Intersection Target
The intersection of the Pipestone Bay St Paul Deformation Zone and the NT Zone occurs between 1km and 2km east of the Rowan Mine Shaft and presents a highly prospective exploration opportunity.
Recent Press Releases: News - West Red Lake Gold
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