West Red Lake Gold Mines – Comprehensive Visual Exploration Update Of Multiple Drill Targets At Both Madsen And Rowan
Will Robinson, VP of Exploration at West Red Lake Gold Mines (TSX.V:WRLG) (OTCQB:WRLGF), joins me for an expanded visual presentation on a number of underground and surface exploration targets of focus at and near the Madsen Mine and Rowan Deposit, in the Red Lake district of Ontario, Canada.
We start off with the big picture lay of the land across the Madsen Mine area, and then vector in on the new high-grade gold results from the 4447 Zone and 904 Complex areas at South Austin. Will also highlights the speed at which their team can turn a geologic thesis, into drill results, and then get that data into the mine plan, with their improving understanding of the geological model and underground infrastructure advantages.
We also review the planned work to develop the 13-level exploration drift to get over into parts of Austin, East Drive, and Derlak areas that haven’t had good underground access for drilling. The ultra high-grade 8-Zone is reviewed again, with Will pointing out that the narrow zone of mineralization is open in both directions and more exploration along trend is required.
Moving up closer to surface, we spend some time outlining how their exploration and engineering teams completed a re-evaluation of the Fork deposit pointing to its shallow, high-grade, low-plunging zone of gold mineralization that is located approximately 250 meters southwest from existing underground development at Madsen. The exploration team did another 3,000 meters of definition drilling from surface last year, which demonstrated in the value in eventually tunneling over from McVeigh into some of the high-grade areas of mineralization while also looking for mineralized extensions. Then even further over from Fork is the historic producing Starratt-Olsen mine, which has shown promising high-grade gold mineralization at depth and will be getting some exploration focus in the year to come.
Rounding it out at surface, Will flagged a number of other priority greenfields exploration targets like North Shore, Upper 8, Faulkenham, and Killoran. These areas have returned compelling mapping, soil sampling, and limited drilling in the past, and warrant more follow up in the exploration seasons to come.
If you have any follow up questions for Will or the team over at West Red Lake Gold please email them into me at Shad@kereport.com.
- In full disclosure, Shad is shareholder of West Red Lake Gold Mines at the time of this recording, and may choose to buy or sell shares at any time.
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Well, it wasn’t a pretty picture in North American trading on Wednesday, so it may be an Aussie catchup to the big downdraft the sector saw mid-week.
Then again, it also could be a continuation pattern and warning that Thursday is going to be just as ugly in US and Canadian markets, because often times the Australian action is the early tell….
I’m amazed at how hard some of the better gold and silver producers have sold off ever since PDAC the first few days of March…. especially considering the record average quarterly metals prices, record margins, and record revenues being generated as we wrap up Q1.
https://tinyurl.com/4p29hb49
Trend Quality & Timing
The Edge (GDX+)
https://www.tradingview.com/x/C8ThgVgo/
GOLD : Quadruple Witching Friday
Very Close : Call Options?
Close stop GDXU. BDC
FREAKY FRIDAY AND QUAD WITCHING FRIDAY…………… should be interesting…. 🙂
The fear in the metals is hitting an extreme high. We are days away or 1/2 weeks from going higher. Would really want to see that USD reverse on the monthly and close below the 10 EMA. I believe that will happen.
Something is going to give.
https://www.tradingview.com/x/xemNkvBZ/
DOLLAR : May Have Turned. BDC
If this is what could be a trap door opening up, I am ready to harvest some cheap shares. If there is a panic brewing I will be waiting with a stink bid for some of my favorite stocks. I am presently in cash. DT
Silver 1h, wow, I sold all my silver stuff yesterday including my short position but am glad I did. Support failure…
USD, 1h, hardly moved…
Silver getting crushed……. $67….
Soloway was correct….
$69 is still a long way off from $50, remember the precious metal markets are now controlled by China. The US no longer does long term strategic planning, remember you were Jerry The Long and it has served you well! DT
Thanks DT……for the reply…. Yes, JtheLONG…. 🙂
Jerry hope all is good with you
Be careful with Soloway he’s a good guy, but he’s human like us all also makes mistakes the biggest one I seen which I can’t let go of was his famous quote when gold blew by $2000. His famous line that made him famous is come back to the scene of the crime well guess what gold never came back to 2000 and took off. 😝😆😆😉 he was dead wrong on that call and the rest was history now he says gold or silver will retest $50. Maybe he gets this one but we will see.
Hello Glen………
Thanks for the reminder….. on Soloway
And I hope all is well with you… and everything is great with me, so far…. 🙂
I have some dry powder, so, I am waiting,…for some deals…
LONG TERM… silver and gold are both going UP….
the DEBT says so…. along with our reckless govt.. says so.. .. 🙂
Back into West Red Lake, Sitka and American Pacific. Added more to Canadian Copper, Kingfisher and Emo. Debt growing more than ever…war not going well for the entire world and transfer of wealth still growing and limited to the wealthy. What’s to be concerned about.
I’ve been a buyer today, starting with HL. However, I do think the tiny caps are going to outperform for a change.
https://tinyurl.com/4p29hb49
The Edge (GDX+) : Turn
Proof Tomorrow!
Matthew: Which would you prefer for my next project: GDXJ, SIL, or SILJ? BDC
I like SILJ but SIL will probably lead the way initially.
SILJ priced in GDX looks interesting…
https://schrts.co/XquwtwXB
All 3 hold these 5 silver plays: First Majestic Silver, Pan American Silver, Hecla Mining, Coeur Mining, and Endeavour Silver. But only SILJ has all 5 in its top 10 and I prefer SILJ’s weightings with all but PAAS sitting in its top 5 (which, to me, is the right one to leave out of the top 5).
Thank you! I will start with SILJ, possibly melding it with SIL miners. Limited to 10, it can always be split up later in various ways. Silver is unique! More complex forms must await automation (coding). BDC
https://tinyurl.com/ep33e46a
Matthew, please inspect this for useful content before I continue. It can always be tweaked later. The date notation (from GDX+) may not be correct. BDC
Thanks BDC, it looks good. When price turns up, do you have saturation numbers that you’re looking for to help confirm that a solid turn is underway? In other words, is there a certain amount of change in the numbers that you like to see early on?
Matthew, good to know. A downtrend reversal takes place when red quality numbered cells revert to (usually) blanks, followed by significant blue quality numbered cells. Nearing a turn, quality numbers are usually higher (see below), but this is not necessary. Other than lesser differences, e.g. the escalator up – elevator down tendency, Saturation works the same long or short. BDC ‘The Edge (GDX+)’: https://tinyurl.com/4p29hb49
FSM and USAS (so far) broke the potential turn. From now on trend change will await confirmation (prototcol tbd). A similar breakdown and result has occurred with ‘The Edge (GDX+)’, which I am updating now. BDC
Thanks BDC, I knew there was more to it than I understood.
Liking how New Break is trading. Every paycheque the insiders are nibbling at a few more shares and despite the metal meltdown it was up today on slightly bigger volume than usual and a nice big bid was at .27 on the open. …….all while waiting for assays after they announced visible gold after drilling most recent hole……potential interview candidate Ex???
Tomorrow seems likely to finish higher…
https://schrts.co/ZWySACer
So much for that. I will be buying aggressively (at least some things) next week regardless of Monday’s action but hopefully the week will open with another gap down.
A Weekend Wash means that today, or Sunday/Monday pre-market, is the bottom! BDC
Thanks!
Not a pretty picture in Aus this Thurs pm
PRU -8%
NST -9%
EVN -10%
VAU -11%
To name a few producers