West Red Lake Gold Intersects 12.5 g/t Gold Over 3.0 Metres, Acquires 100% Stake In Rowan Property

The assay results are in for West Red Lake Gold Mine’s (TSXV: WRLG) 2022 drill program. The program saw 4,189 metres drilled in aggregate across thirteen holes at the firms flagship Rowan Property, in the Red Lake region of Ontario.

Drilling was divided across three zones on the property, including the Porphyry Hill, NT, and Rowan Shaft areas. Of the thirteen holes drilled, twelve encountered gold mineralization that exceeds 1 gram per tonne.

Highlights from the results include:

• Rowan Resource Zone
  • RLG-22-117: 7.72 g/t gold over 2.5 metres, from 236.5 metres
  • RLG-22-118: 5.04 g/t gold over 3.0 metres, from 145.0 metres
• NT Project Zone
  • RLG-22-119: 12.5 g/t gold over 3.0 metres, from 287.0 metres
• Porphyry Hill
  • RLG-22-125: 4.57 g/t gold over 2.0 metres, from 89.0 metres
  • RLG-22-126: 11.3 g/t gold over 1.1 metres, from 61.0 metres

“The team continues to intersect the high-grade gold intervals characteristic of the Rowan deposit in areas outside of the existing resource. We also intersected varying styles of high-grade gold mineralization at the NT Zone and Porphyry Hill that could lead to a significant discovery on our land package,” commented CEO Tom Meredith.

The company is set to continue exploration at the property in 2023, via a 7,000 metre drill program which is set to begin next month.

Rowan property purchase

Separately, the company indicated last night after the release of results that it had acquired 100% ownership in the Rowan Property. Previously, the firm had held a 72% interest in the project, with the remaining 28% held by Evolution Mining.

The remaining position in the property was acquired via the issuance of 3.6 million common shares of West Red Lake Gold, and a cash payment of $250,000. The transaction will see Evolution own a 6.53% stake in the gold explorer, while retaining a 2.5% NSR on the Rowan Property.

The Rowan Property, which is the most advanced property within the West Red Lake Gold Project, currently has an inferred mineral resource of 2.8 million tonnes at a grade of 9.2 g/t gold, or 827,462 gold ounces, based on a cut-off of 3.8 g/t.

“This is a significant milestone for West [nxtlink id="268485"]Red Lake Gold Mines[/nxtlink], as we have now acquired 100% ownership of all three properties that comprise the West Red Lake Gold Project, and we have successfully welcomed the top operator in the Red Lake Gold District as a strategic shareholder,” commented Meredith.

West Red Lake Gold last traded at $0.365 on the TSX Venture.

FULL DISCLOSURE: West [nxtlink id="268485"]Red Lake Gold Mines[/nxtlink] Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover West [nxtlink id="268485"]Red Lake Gold Mines[/nxtlink] Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

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