Latest news with #WestRedLakeGoldMines
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Gold Finder Announces Next Phase of Target Development at West Madsen Gold Project, Red Lake, Ontario
West Madsen adjoins Madsen Mine property, owned by West Red Lake Gold Mines (WRLG), which recently announced the restart of the Madsen Gold Mine Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Gold Finder Resources Ltd. (TSXV: GLD) (OTCQB: GLDFF) ("Gold Finder" or the "Company") is pleased to announce summer fieldwork at its 100%-owned West Madsen Property (the "Property"). A review of the Company's previous exploration programs on the Property (2019-2024) was conducted to determine untested targets and areas that require further fieldwork prior to carrying out any additional mechanical stripping or drilling. To view an enhanced version of this graphic, please visit: Two areas were selected for the 2025 fieldwork (see Figure 1) and the work was carried out by Emerald Geological Services. More than 200 soil samples and 25 rock-grab samples were collected during the June program and submitted for laboratory analysis, with results pending. Area 1 Covers an area from Tack Lake, where the Balmer-Confederation contact has been identified in drilling, to the western property boundary with Athena Gold's Laird Lake property, where Athena reported bonanza-grade grab samples up to 373 g/t Au (see Athena's Dec. 4, 2024 news release). Prospecting and soil sampling was carried out to identify further gold anomalies proximal to the Balmer-Confederation contact. Reports from the Ontario Assessment File Database indicate grab samples up to 2.23 g/t Au approximately 500 meters west of the West Madsen property boundary and drill intersections up to 8.4 g/t Au over 1.3 meters approximately 1.5 km west of the boundary, as well as grab samples up to 178 ppb Au near the west shore of Tack Lake on the Property. Area 2 Covers an area near the eastern boundary of the Property, where 2020 soil sampling yielded anomalies up to 106 ppb Au from "A" horizon, and where 2024 drillholes WM-24-03 and WM-24-04 intersected ultramafic flows believed to belong to the Balmer Assemblage, which hosts the current and past producing gold mines of the Red Lake camp. Infill soil sampling and prospecting was carried out in this area during the 2025 program. "It's an opportune time to continue our systematic exploration of the West Madsen property with the official restart of the Madsen Gold Mine and our eastern claim boundary only 5 kilometres from the Madsen mine/mill complex," said Greg Lytle, President of Gold Finder. About the West Madsen Gold Project The West Madsen Gold Project covers 5,988 hectares in the heart of the Red Lake Gold Camp. It is comprised of two contiguous claim blocks: Block A to the east and Block B to the west, both accessible by secondary roads connecting to Ontario HWY 618 then to the town of Red Lake 15 km to the northeast. Block A adjoins the Madsen mine property, owned by West Red Lake Gold Mines, which recently announced the restart of the Madsen gold mine (see WRLG news release of May 22, 2025). The bulk of the mineral resources on the Madsen mine property are hosted in a ~7-km-long gold trend that follows the major crustal break or contact between the Balmer and Confederation assemblages. Gold Finder has observed the same Balmer-Confederation contact in outcrop approximately 1.5 km west of the Block A eastern claim boundary and identified it within an ~8-km corridor of disrupted regional magnetics that traverses Block A from the Madsen mine property. The technical information in this news release was reviewed and approved by Coleman Robertson, P. Geo., a qualified person (QP) for the purposes of NI 43-101 and V.P. Exploration for Emerald Geological Services. About Gold Finder Resources Ltd. Gold Finder is a mineral exploration company focused on discovery-stage properties. Our goal is to add value by defining or redefining the exploration opportunity, maintain ownership control during the value creation phase of discovery, and then source a well-financed partner capable of accelerating discovery, resource definition, and development. For more information, you can visit our website at download our investor presentation, and follow us on X at ON BEHALF OF THE BOARD Signed "Gregory Lytle" Gregory Lytle, President Gold Finder Resources Ltd. Direct line: (604) 839-6946 Email: info@ 179 - 2945 Jacklin Road, Suite 416 Victoria, BC, V9B 6J9 Forward-Looking Statements This news release may contain "forward-looking statements" that involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.
CTV News
17-06-2025
- CTV News
Worker killed underground at mine in Red Lake, Ont.
Officials with West Red Lake Gold Mines Ltd. say an employee working underground was fatally injured at the Madsen Mine in Red Lake on Monday. (File) Officials with West Red Lake Gold Mines Ltd. say an employee working underground was fatally injured at the Madsen Mine in Red Lake on Monday. 'The health, safety and well-being of our employees is our top priority,' the company said in a news release. 'The company is working closely with local and Ministry of Labour authorities and an investigation and comprehensive review are underway.' Mine operations suspended Madsen Mine is located in Red Lake in northwestern Ontario, north of Kenora. Operations at the mine have been voluntarily suspended while the investigation is underway. 'The thoughts of management are with the family, friends and colleagues who have been impacted by this tragic incident,' the company said. 'The company will provide additional information as appropriate.' A message to the Ministry of Labour from CTV News Northern Ontario seeking additional information wasn't immediately returned. West Red Lake Gold Mines Ltd. is a mineral exploration company developing the Madsen Gold Mine in 47 square kilometres of land in the Red Lake district of Ontario.
The Market Online
28-05-2025
- Business
- The Market Online
Gold Report: Junior stocks with multi-million-ounce potential
Junior stock West Red Lake Gold Mines (TSXV:WRLG) has restarted production at its Madsen mine in Ontario. The property is estimated to contain 1.65 million ounces indicated and 370,000 ounces inferred at a base case of US$1,800 per ounce, representing a 45 per cent discount to the price as of May 27. Click here for the full story. By the ounce At the time of writing on Tuesday, the price of gold was US$3,294.20, up from US$3,284.60 per ounce in our May 21 report, according to data from The Globe and Mail, holding steady despite a global equity recovery over the past week driven by optimism for further discussions between the U.S. and its major trade partners. This week in gold Agnico Eagle Mines (TSX:AEM) increased its investment in Fury Gold Mines (TSX:FURY) by almost 3x to 9.9 per cent of issued shares on a partially diluted basis, granting it exposure to a multi-million-ounce portfolio while de-risking a retail allocation. Ashley Gold (CSE:ASHL) returned up to 20.2 grams per ton of gold in recent samples from its Howie project in Ontario, supporting the potential for significant gold mineralization on the property and bolstering its overall portfolio's multi-million-ounce upside. Globex Mining (TSX:GMX) noted that portfolio company Radisson Mining (TSXV:RDS) is adding 18,000 metres of drilling to its 2025 program at its O'Brien project in Quebec, where recent and historical exploration has yielded high-grade and visible gold, an estimated 1.2 million ounces indicated and inferred, and a runway to uncover up to a 4-million-ounce resource according to management's projections. Top trending gold stocks Join the discussion: Find out what everybody's saying about the junior mining stocks in this week's gold report on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Globe and Mail
22-05-2025
- Business
- Globe and Mail
West Red Lake Gold restarts Madsen mine in Ontario
May 22, 2025 — At a meeting on May 21, 2025, the West Red Lake Gold Mines Ltd. board of directors approved management's recommendation to restart the Madsen mine immediately. 'West Red Lake Gold acquired the Madsen mine in June, 2023, with the goal to use our team's deep technical experience to unlock the abundant, but at the time discounted, potential of this mine,' said Shane Williams, president and chief executive officer. 'We have pushed hard for two years to accomplish that feat and now, with major infrastructure projects complete and our bulk sample having delivered mined tonnes and gold grade aligned with modelled expectations, our approach has been validated and we are ready to mine on a continual basis. 'This restart decision is a major milestone that has been achieved by systematically derisking the technical, operating and funding requirements of a sustainable, high-grade gold operation at Madsen, and I am very pleased to deliver this restart to all key stakeholders, including our shareholders and neighbours.' For the past year, West Red Lake Gold has communicated a plan to restart the Madsen mine by the middle of 2025. Restarting now delivers this milestone slightly ahead of schedule, positioning the mine for an exciting second half of the year. Specifically, the company plans to mine and process an average of 500 tonnes per day for the first two months before ramping up operations through the second half of the year. About West Red Lake Gold Mines Ltd. West Red Lake Gold Mines is a mineral development company that is publicly traded and focused on advancing and developing its flagship Madsen gold mine and the associated 47-square-kilometre, highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake gold district of Northwestern Ontario, Canada, has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. West Red Lake Gold Mines also holds the wholly owned Rowan property in Red Lake, with an expansive property position covering 31 square kilometres, including three past-producing gold mines — Rowan, Mount Jamie and Red Summit. We seek Safe Harbor. Featured Image @ Freepik Read more investing news on to the PressReach RSS feeds:
The Market Online
22-05-2025
- Business
- The Market Online
This micro-cap gold explorer just graduated into production
Micro-cap West Red Lake Gold Mines (TSXV:WRLG) will restart its flagship Madsen mine in Ontario's Red Lake district effective immediately West Red Lake Gold Mines is a mineral exploration company active in Ontario's Red Lake district, which has produced over 30 million ounces of gold to date West Red Lake Gold Mines stock has added 21.88 per cent year-over-year but remains flat since acquiring Madsen in April 2023 Micro-cap West Red Lake Gold Mines (TSXV:WRLG) will restart its flagship Madsen mine in Ontario's Red Lake district effective immediately. According to a 2023 resource estimate, Madsen houses 1.65 million ounces indicated and 370,000 ounces inferred at a base case of US$1,800 per ounce, which is heavily discounted to the price of US$3,306 as of May 22. The mine will process an average of 500 tons per today over the first two months, with a ramp-up planned through the end of 2025. The board-approved decision follows two years of development work and comes in slightly ahead of schedule, setting the company up for near-term cash flow and potential share price momentum. Leadership insights 'West Red Lake Gold acquired the Madsen mine in June 2023 with the goal to use our team's deep technical experience to unlock the abundant but at the time discounted potential of this mine,' Shane Williams, West Red Lake Gold Mines' president and chief executive officer, said in a statement. 'We have pushed hard for two years to accomplish that feat and now, with major infrastructure projects complete, and our bulk sample having delivered mined tons and gold grade aligned with modeled expectations, our approach has been validated and we are ready to mine on a continual basis.' 'This restart decision is a major milestone that has been achieved by systematically de-risking the technical, operating and funding requirements of a sustainable high-grade gold operation at Madsen and I am very pleased to deliver this restart to all key stakeholders, including our shareholders and neighbours,' Williams added. About West Red Lake Gold Mines West Red Lake Gold Mines is a mineral exploration company active in Ontario's Red Lake district, which has produced over 30 million ounces of gold to date. The company is developing its 47-square-kilometre Madsen gold mine and 31-square-kilometre Rowan property, the latter including three past-producing gold mines. West Red Lake Gold Mines stock (TSXV:WRLG) last traded at C$0.78. The stock has added 21.88 per cent year-over-year but remains flat since acquiring Madsen in April 2023. Join the discussion: Find out what everybody's saying about this Canadian micro-cap gold miner on the West Red Lake Gold Mines Ltd. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
