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Printed Sep 24, 2024 • 17 minute learn
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VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — West Purple Lake Gold Mines Ltd.
(“West Purple Lake Gold” or “WRLG” or the “Firm”) (TSXV: WRLG)
(OTCQB: WRLGF) is happy to report drill outcomes from its 100% owned Madsen Mine situated within the Purple Lake Gold District of Northwestern Ontario, Canada.
The drill outcomes featured on this information launch are centered on the high-grade South Austin Zone, which presently accommodates an Indicated mineral useful resource of 474,600 ounces (“oz”) grading 8.7 grams per tonne (“g/t”) gold (“Au”), with an extra Inferred useful resource of 31,800 ouncesgrading 8.7 g/t Au.
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The aim of this drilling was definition inside precedence areas of South Austin to proceed constructing an stock of high-confidence ounces to help the restart of manufacturing on the Madsen mine, which is predicted to start in 2025. The Firm expects to finish a pre-feasibility examine outlining its restart plans in This fall.
SOUTH AUSTIN ZONE HIGHLIGHTS:
- Gap MM24D-08-4447-035 Intersected 4.48m @ 49.39 g/t Au, from 114.91m to 119.39m, Together with 2.5m @ 76.51 g/t Au, from 116.0m to 118.5m.
- Gap MM24D-08-4447-025 Intersected 11.2m @ 18.46 g/t Au, from 106.0m to 117.2m, Together with 4m @ 34.41 g/t Au, from 107m to 111m, Additionally together with 0.5m @ 10.21 g/t Au, from 113.0m to 113.5m, Additionally together with 1.5m @ 32.13 g/t Au, from 114.5m to 116.0m.
- Gap MM24D-08-4447-033 Intersected 1.74m @ 74.92 g/t Au, from 100.26m to 102.00m.
- Gap MM24D-08-4447-028 Intersected 4m @ 20.63 g/t Au, from 118.5m to 122.5m, Together with 0.7m @ 95.59 g/t Au, from 120.3m to 121.0m.
- Gap MM24D-08-4447-019 Intersected 6.3m @ 12.38 g/t Au, from 105.0m to 111.3m, Together with 1m @ 31.39 g/t Au, from 106m to 107m, Additionally together with 2m @ 17.19 g/t Au, from 108m to 110m.
- Gap MM24D-08-4447-014 Intersected 3.3m @ 15.69 g/t Au, from 74.05m to 77.35m, Together with 0.8m @ 39.93 g/t Au, from 75.0m to 75.8m, Additionally together with 0.5m @ 19.43 g/t Au, from 76.85m to 77.35m.
- Gap MM24D-08-4447-016 Intersected 5m @ 9.16 g/t Au, from 89m to 94m, Together with 1m @ 35.00 g/t Au, from 89m to 90m.
- Gap MM24D-08-4447-023 Intersected 2.2m @ 19.05 g/t Au, from 111.7m to 113.9m, Together with 1.65m @ 22.77 g/t Au, from 112.25m to 113.90m.
- Gap MM24D-08-4447-020 Intersected 6.5m @ 6.19 g/t Au, from 105.0m to 111.5m, Together with 0.5m @ 21.81 g/t Au, from 110.5m to 111.0m.
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Shane Williams, President & CEO, said, “The crew is doing a incredible job advancing the definition drilling program at Madsen that’s important for creating a listing of high-confidence ounces to help the mine restart plan and our purpose of getting Madsen again into manufacturing by H2 2025. The intercepts out of South Austin highlighted on this replace are proper on par with the distinctive outcomes out of the Austin and McVeigh zones which have been introduced during the last month. This consistency and high quality between completely different mineral zones assist to display the potential we see inside the entirety of the Madsen deposit.”
Plan maps and part for the Austin and McVeigh drilling outlined on this launch are offered in Figures 1 by 8. To see these drill holes within the context of a three-dimensional mannequin of the Madsen venture mineral useful resource, click on right here. https://vrify.com/editor/decks/16990
TABLE 1. Important intercepts (>3 g/t Au) from drilling at Austin Zone.
| Gap ID | Goal | From (m) | To (m) | Size (m)* | Au (g/t) |
| MM24D-08-4447-001 | South Austin | 101.09 | 105.00 | 3.91 | 7.08 |
| Incl. | 102.00 | 103.00 | 1.00 | 13.25 | |
| AND | South Austin | 114.00 | 117.60 | 3.60 | 7.76 |
| Incl. | 116.00 | 117.00 | 1.00 | 17.67 | |
| MM24D-08-4447-002 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-003 | South Austin | 108.00 | 110.87 | 2.87 | 6.65 |
| Incl. | 109.40 | 109.95 | 0.55 | 12.86 | |
| MM24D-08-4447-004 | South Austin | 85.04 | 87.00 | 1.96 | 5.81 |
| Incl. | 86.00 | 87.00 | 1.00 | 10.64 | |
| AND | South Austin | 96.00 | 97.50 | 1.50 | 5.76 |
| Incl. | 96.00 | 96.52 | 0.52 | 11.38 | |
| MM24D-08-4447-005 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-006 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-007 | South Austin | 110.00 | 111.00 | 1.00 | 3.17 |
| MM24D-08-4447-008 | South Austin | 93.00 | 94.00 | 1.00 | 4.86 |
| MM24D-08-4447-009 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-010 | South Austin | 91.00 | 92.00 | 1.00 | 4.67 |
| MM24D-08-4447-011 | South Austin | 102.69 | 104.00 | 1.31 | 5.91 |
| MM24D-08-4447-012 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-013 | South Austin | 94.00 | 97.00 | 3.00 | 3.42 |
| AND | South Austin | 103.70 | 105.10 | 1.40 | 20.28 |
| MM24D-08-4447-014 | South Austin | 74.05 | 77.35 | 3.30 | 15.69 |
| Incl. | 75.00 | 75.80 | 0.80 | 39.93 | |
| Additionally Incl. | 76.85 | 77.35 | 0.50 | 19.43 | |
| MM24D-08-4447-015 | South Austin | 109.00 | 109.70 | 0.70 | 3.62 |
| MM24D-08-4447-016 | South Austin | 89.00 | 94.00 | 5.00 | 9.16 |
| Incl. | 89.00 | 90.00 | 1.00 | 35.00 | |
| MM24D-08-4447-017 | South Austin | 77.00 | 79.85 | 2.85 | 3.71 |
| AND | South Austin | 88.00 | 89.00 | 1.00 | 3.24 |
| MM24D-08-4447-018 | South Austin | 107.00 | 109.00 | 2.00 | 3.82 |
| MM24D-08-4447-019 | South Austin | 105.00 | 111.30 | 6.30 | 12.38 |
| Incl. | 106.00 | 107.00 | 1.00 | 31.39 | |
| Additionally Incl. | 108.00 | 110.00 | 2.00 | 17.19 | |
| MM24D-08-4447-020 | South Austin | 93.45 | 96.00 | 2.55 | 3.42 |
| AND | South Austin | 105.00 | 111.50 | 6.50 | 6.19 |
| Incl. | 110.50 | 111.00 | 0.50 | 21.81 | |
| AND | South Austin | 112.00 | 113.00 | 1.00 | 3.63 |
| MM24D-08-4447-021 | South Austin | 98.00 | 100.00 | 2.00 | 3.36 |
| MM24D-08-4447-022 | South Austin | 98.00 | 98.50 | 0.50 | 20.77 |
| AND | South Austin | 102.00 | 102.60 | 0.60 | 29.57 |
| MM24D-08-4447-023 | South Austin | 111.70 | 113.90 | 2.20 | 19.05 |
| Incl. | 112.25 | 113.90 | 1.65 | 22.77 | |
| MM24D-08-4447-024 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-025 | South Austin | 106.00 | 117.20 | 11.20 | 18.46 |
| Incl. | 107.00 | 111.00 | 4.00 | 34.41 | |
| Additionally Incl. | 113.00 | 113.50 | 0.50 | 10.21 | |
| Additionally Incl. | 114.50 | 116.00 | 1.50 | 32.13 | |
| MM24D-08-4447-026 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-027 | South Austin | 114.00 | 114.80 | 0.80 | 3.82 |
| AND | South Austin | 125.90 | 126.40 | 0.50 | 8.40 |
| MM24D-08-4447-028 | South Austin | 118.50 | 122.50 | 4.00 | 20.63 |
| Incl. | 120.30 | 121.00 | 0.70 | 95.59 | |
| MM24D-08-4447-029 | South Austin | 120.25 | 124.00 | 3.75 | 3.06 |
| AND | South Austin | 125.95 | 128.00 | 2.05 | 3.53 |
| MM24D-08-4447-030 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-031 | South Austin | 95.00 | 96.80 | 1.80 | 16.06 |
| MM24D-08-4447-032 | South Austin | 88.95 | 89.80 | 0.85 | 3.50 |
| AND | South Austin | 91.45 | 94.00 | 2.55 | 3.47 |
| MM24D-08-4447-033 | South Austin | 100.26 | 102.00 | 1.74 | 74.92 |
| MM24D-08-4447-034 | South Austin | No Assays > 3 g/t Au | |||
| MM24D-08-4447-035 | South Austin | 114.91 | 119.39 | 4.48 | 49.39 |
| Incl. | 116.00 | 118.50 | 2.50 | 76.51 | |
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*The “From-To” intervals in Desk 1 are denoting total downhole size of the intercept. True thickness has not been calculated for these intercepts however is predicted to be ≥ 70% of downhole thickness primarily based on intercept angles noticed within the drill core. Inside dilution for composite intervals doesn’t exceed 1m for samples grading <0.1 g/t Au.
TABLE 2: Drill collar abstract for holes reported on this Information Launch.
| Gap ID | Goal | Easting | Northing | Elev (m) | Size (m) | Azimuth | Dip |
| MM24D-08-4447-001 | South Austin | 435513 | 5646365 | 9 | 50.6 | 125 | -24 |
| MM24D-08-4447-002 | South Austin | 435513 | 5646365 | 9 | 83.0 | 136 | -18 |
| MM24D-08-4447-003 | South Austin | 435513 | 5646365 | 9 | 88.8 | 138 | -26 |
| MM24D-08-4447-004 | South Austin | 435513 | 5646365 | 9 | 81.0 | 139 | -17 |
| MM24D-08-4447-005 | South Austin | 435513 | 5646365 | 9 | 95.1 | 139 | -31 |
| MM24D-08-4447-006 | South Austin | 435513 | 5646365 | 9 | 75.2 | 141 | -18 |
| MM24D-08-4447-007 | South Austin | 435513 | 5646365 | 9 | 111.0 | 143 | -24 |
| MM24D-08-4447-008 | South Austin | 435513 | 5646365 | 9 | 100.3 | 146 | -10 |
| MM24D-08-4447-009 | South Austin | 435513 | 5646365 | 9 | 105.0 | 146 | -17 |
| MM24D-08-4447-010 | South Austin | 435513 | 5646365 | 9 | 102.3 | 147 | -6 |
| MM24D-08-4447-011 | South Austin | 435513 | 5646365 | 9 | 111.0 | 147 | -14 |
| MM24D-08-4447-012 | South Austin | 435513 | 5646365 | 9 | 81.0 | 149 | -23 |
| MM24D-08-4447-013 | South Austin | 435513 | 5646365 | 9 | 90.0 | 148 | -13 |
| MM24D-08-4447-014 | South Austin | 435513 | 5646365 | 9 | 75.0 | 151 | -7 |
| MM24D-08-4447-015 | South Austin | 435513 | 5646365 | 9 | 57.0 | 151 | -16 |
| MM24D-08-4447-016 | South Austin | 435513 | 5646365 | 9 | 66.0 | 155 | -11 |
| MM24D-08-4447-017 | South Austin | 435513 | 5646365 | 9 | 60.0 | 155 | -7 |
| MM24D-08-4447-018 | South Austin | 435513 | 5646365 | 9 | 90.0 | 155 | -25 |
| MM24D-08-4447-019 | South Austin | 435513 | 5646365 | 9 | 63.0 | 155 | -16 |
| MM24D-08-4447-020 | South Austin | 435513 | 5646365 | 9 | 72.0 | 160 | -13 |
| MM24D-08-4447-021 | South Austin | 435513 | 5646365 | 9 | 78.0 | 160 | -9 |
| MM24D-08-4447-022 | South Austin | 435513 | 5646365 | 9 | 84.0 | 162 | -20 |
| MM24D-08-4447-023 | South Austin | 435513 | 5646365 | 9 | 66.0 | 162 | -24 |
| MM24D-08-4447-024 | South Austin | 435513 | 5646365 | 9 | 72.0 | 163 | -10 |
| MM24D-08-4447-025 | South Austin | 435513 | 5646365 | 9 | 66.0 | 163 | -15 |
| MM24D-08-4447-026 | South Austin | 435513 | 5646365 | 9 | 63.0 | 167 | -21 |
| MM24D-08-4447-027 | South Austin | 435513 | 5646365 | 9 | 75.0 | 167 | -16 |
| MM24D-08-4447-028 | South Austin | 435513 | 5646365 | 9 | 66.0 | 169 | -26 |
| MM24D-08-4447-029 | South Austin | 435513 | 5646365 | 9 | 63.0 | 173 | -8 |
| MM24D-08-4447-030 | South Austin | 435513 | 5646365 | 9 | 75.0 | 173 | -25 |
| MM24D-08-4447-031 | South Austin | 435513 | 5646365 | 9 | 75.0 | 173 | -21 |
| MM24D-08-4447-032 | South Austin | 435513 | 5646365 | 9 | 85.0 | 173 | -15 |
| MM24D-08-4447-033 | South Austin | 435513 | 5646365 | 9 | 72.0 | 173 | -19 |
| MM24D-08-4447-034 | South Austin | 435513 | 5646365 | 9 | 66.0 | 171 | -18 |
| MM24D-08-4447-035 | South Austin | 435513 | 5646365 | 9 | 69.0 | 171 | -24 |
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DISCUSSION
Accessed by the Madsen Mine West Portal, the South Austin Zone sits south within the hanging wall of the principle Austin Zone. Like the opposite mineralized domains that comprise the Madsen Mine, the South Austin construction is hosted inside broad, kilometer-scale planar alteration and deformation corridors which have been repeatedly reactivated throughout gold mineralization and subsequent deformation and metamorphism.
On the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are domestically folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. Along with this intense deformation overprint, the mineralized veins and alteration have been subjected to the comparatively excessive temperatures of amphibolite facies metamorphism, which led to intensive recrystallization and development of the skarn-like alternative mineral assemblage of diopside-amphibole-quartz-biotite.
All important gold mineralization on the mine property is demonstrably early relative to probably the most important, penetrative deformation (D2) and metamorphic occasions. The North Austin Zone shows ‘mine-style’ alteration and mineralization and consists of a number of mineralized domains outlined over a strike size of 0.5km. Mineralization stays open at depth and alongside strike to the northeast.
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In drill core, or at underground face exposures, gold-bearing zones on the Madsen Mine are greatest recognized visually by high-quality (sub-millimetre) grains of free gold inside sturdy alteration and veining. All high-grade intervals usually include seen gold on drill core exteriors, though quite a few examples exist of high-grade assays the place seen gold was solely recognized inside the inside (lower floor) of the core samples. Other than the presence of free gold, pervasive silicification (domestically accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the perfect indicators {that a} given interval is inside a high-grade zone alongside/inside the mineralized construction.
The present underground drilling program on the Madsen Mine is targeted on additional definition of near-term mining stock, in addition to development of the present mineral useful resource. Drilling has been centered on the extra steady and higher-grade parts of the Austin, South Austin, North Austin and McVeigh Zones. This may proceed to be the technique by 2024.
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Excessive decision variations of all of the figures contained on this press launch might be discovered on the following internet deal with: https://westredlakegold.com/september-Twenty fourth-news-release-maps/
FIGURE 1. Madsen Mine lengthy part displaying location of 08-4447 Drill Bay within the South Austin Zone.[1]
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 2. South Austin plan view drill part displaying assay highlights for Holes MM24D-08-4447-001 by -035.[1]
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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FIGURE 3. South Austin part view displaying assay highlights for Holes MM24D-08-4447-001 by -007.[1]
Holes -002 by -007 broke into historic stopes.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 4. South Austin part view displaying assay highlights for Holes MM24D-08-4447-008 by -012.[1]
Holes -008, -009, -011 and –012 broke into historic stopes.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca
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FIGURE 5. South Austin part view displaying assay highlights for Holes MM24D-08-4447-013 by -016.[1] Holes -013, -015 and -016 broke into historic stopes.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 6. South Austin part view displaying assay highlights for Holes MM24D-08-4447-017 by -021.[1] Holes -018 by -021 broke into historic stopes.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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FIGURE 7. South Austin part view displaying assay highlights for Holes MM24D-08-4447-022 by -028.[1]
Gap -025 broke right into a historic stope.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
FIGURE 8. South Austin part view displaying assay highlights for Holes MM24D-08-4447-029 by -035.[1]
Holes -033 and -034 broke into historic stopes.
[1] Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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QUALITY ASSURANCE/QUALITY CONTROL
Drilling accomplished underground on the Madsen Mine consists of BQ-sized diamond drill core for definition drill applications and oriented NQ-sized diamond drill core for exploration centered drilling. All drill holes are systematically logged, photographed, and sampled by a skilled geologist on the Madsen Mine core processing facility. Minimal allowable pattern size is 0.5m. Most allowable pattern size is 1.5m. Management samples (licensed requirements and uncertified blanks), alongside duplicates, are inserted at a goal 5% insertion price. Outcomes are assessed for accuracy, precision, and contamination on an ongoing foundation. The BQ-sized drill core is entire core sampled. The NQ-sized drill core is then lower lengthwise using a diamond blade core noticed alongside a line pre-selected by the geologist. To scale back sampling bias, the identical facet of drill core is sampled constantly using the orientation line as reference. For these samples containing seen gold (“VG”), a skilled geologist supervises the reducing/bagging of these samples, and ensures the core noticed blade is ‘cleaned’ with a dressing stone following the VG pattern interval. Bagged samples are then sealed with zip ties and transported by Madsen Mine personnel on to SGS Pure Useful resource’s Facility in Purple Lake, Ontario for assay.
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Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2mm. A riffle splitter is then utilized to supply a 500g course reject for archive. The rest of the pattern is then pulverized to 85% passing 75 microns from which 50g is analyzed by hearth assay and an atomic absorption spectroscopy (AAS) end (SGS Code GO-FAA50V10). Samples returning gold values > 100 g/t Au are reanalyzed by hearth assay with a gravimetric end on a 50g pattern (SGS Code GO_FAG50V). Samples with seen gold are additionally analyzed through metallic display screen evaluation (SGS code: GO_FAS50M). For multi-element evaluation, samples are despatched to SGS’s facility in Burnaby, British Columbia and analyzed through four-acid digest with an atomic emission spectroscopy (ICP-AES) end for 33-element evaluation on 0.25g pattern pulps (SGS code: GE_ICP40Q12). SGS Pure Assets analytical laboratories operates below a High quality Administration System that complies with ISO/IEC 17025.
The Madsen Mine deposit presently hosts a Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) Indicated useful resource of 1.65 million ounces (“Moz”) of gold grading 7.4 g/t Au and an Inferred useful resource of 0.37 Moz of gold grading 6.3 g/t Au. Mineral assets are estimated at a cut-off grade of three.38 g/t Au and a gold value of US1,800/oz. Mineral assets that aren’t mineral reserves do not need demonstrated financial viability. Please confer with the technical report entitled “Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada”, ready by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024 (the “Madsen Report”). The Madsen Useful resource Estimate has an efficient date of December 31, 2021 and excludes depletion of mining exercise in the course of the interval from January 1, 2022 to the mine closure on October 24, 2022 because it has been deemed immaterial and never related for the aim of the Madsen Report. A full copy of the Madsen Report is out there on the Firm’s web site and on SEDAR+ at www.sedarplus.ca.
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The technical data introduced on this information launch has been reviewed and permitted by Will Robinson, P.Geo., Vice President of Exploration for West Purple Lake Gold and the Certified Particular person for exploration on the West Purple Lake Challenge, as outlined by NI 43-101 “Requirements of Disclosure for Mineral Initiatives”.
GRANT OF RESTRICTED SHARE UNITS
The Firm additionally publicizes the grant of restricted share items (“RSUs”) in accordance with the Firm’s restricted share unit, efficiency share unit, and deferred share unit compensation plan. Sure Officers and staff of the Firm have been granted an mixture of 450,000 RSUs which can vest over three years in three equal tranches on the primary, second and third anniversary of the grant date. The grant of RSUs is topic to regulatory acceptance of the TSX Enterprise Change.
ABOUT WEST RED LAKE GOLD MINES
West Purple Lake Gold Mines Ltd. is a mineral exploration firm that’s publicly traded and centered on advancing and creating its flagship Madsen Gold Mine and the related 47 km2 extremely potential land package deal within the Purple Lake district of Ontario. The extremely productive Purple Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts a number of the world’s richest gold deposits. WRLG additionally holds the wholly owned Rowan Property in Purple Lake, with an expansive property place masking 31 km2 together with three previous producing gold mines – Rowan, Mount Jamie, and Purple Summit.
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ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Govt Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Freddie Leigh
Tel: (604) 609-6132
Electronic mail: traders@wrgold.com or go to the Firm’s web site at https://www.westredlakegold.com
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
FORWARD-LOOKING INFORMATION
Sure statements contained on this information launch could represent “forward-looking data” inside the which means of relevant securities legal guidelines. Ahead-looking data usually might be recognized by phrases similar to “anticipate”, “count on”, “estimate”, “forecast”, “deliberate”, and related expressions suggesting future outcomes or occasions. Ahead-looking data relies on present expectations of administration; nonetheless, it’s topic to identified and unknown dangers, uncertainties and different components which will trigger precise outcomes to vary materially from the forward-looking data on this information launch and embody with out limitation, statements referring to plans for the potential restart of mining operations on the Madsen Mine, the potential of the Madsen Mine; any untapped development potential within the Madsen deposit or Rowan deposit; timing of pre-feasibility examine and the Firm’s future goals and plans. Readers are cautioned to not place undue reliance on forward-looking data.
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Ahead-looking data contain quite a few dangers and uncertainties and precise outcomes may differ materially from outcomes instructed in any forward-looking data. These dangers and uncertainties embody, amongst different issues, market volatility; the state of the monetary markets for the Firm’s securities; fluctuations in commodity costs; timing and outcomes of the cleanup and restoration on the Madsen Mine; and adjustments within the Firm’s enterprise plans. Ahead-looking data relies on a lot of key expectations and assumptions, together with with out limitation, that the Firm will proceed with its said enterprise goals and its skill to boost further capital to proceed. Though administration of the Firm has tried to establish essential components that would trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such forward-looking data will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such forward-looking data. Accordingly, readers shouldn’t place undue reliance on forward-looking data. Readers are cautioned that reliance on such data is probably not acceptable for different functions. Extra details about dangers and uncertainties is contained within the Firm’s administration’s dialogue and evaluation for the yr ended November 30, 2023, and the Firm’s annual data kind for the yr ended November 30, 2023, copies of which can be found on SEDAR+ at www.sedarplus.ca.
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The forward-looking data contained herein is expressly certified in its entirety by this cautionary assertion. Ahead-looking data displays administration’s present beliefs and relies on data presently accessible to the Firm. The forward-looking data is made as of the date of this information launch and the Firm assumes no obligation to replace or revise such data to replicate new occasions or circumstances, besides as could also be required by relevant legislation.
For extra data on the Firm, traders ought to evaluation the Firm’s steady disclosure filings which might be accessible on SEDAR+ at www.sedarplus.ca.
Images accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3b018266-6585-4444-b577-c428b06d2027
https://www.globenewswire.com/NewsRoom/AttachmentNg/68a98016-a353-4f6f-b38d-5ab60905f686
https://www.globenewswire.com/NewsRoom/AttachmentNg/c323853d-ca27-4911-9981-87b4eacbfc3a
https://www.globenewswire.com/NewsRoom/AttachmentNg/b80d1dcc-9b35-496e-840b-94cebe450b7b
https://www.globenewswire.com/NewsRoom/AttachmentNg/659de9fa-0fe1-4f4a-b79b-8791dafff0c5
https://www.globenewswire.com/NewsRoom/AttachmentNg/7af663d2-4cac-4162-8b68-ab41501e534c
https://www.globenewswire.com/NewsRoom/AttachmentNg/803ad9ce-e032-4e99-bddf-c29fa8479b52
https://www.globenewswire.com/NewsRoom/AttachmentNg/7710de20-e88e-4d13-8d32-945b58aadace
https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0e3715-0857-4bba-aae6-8056d690fb23
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