The Higher 8 goal is a shallower geologic analog to the well-known high-grade 8-Zone. It’s hosted in ultramafic rocks roughly 750 meters up-plunge from the primary 8-Zone deposit.
Vancouver, BC, October 9, 2024 – World Shares Information – Sponsored content material disseminated on behalf of West Crimson Lake Gold. On October 2, 2024 West Crimson Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) reported preliminary drill outcomes from the Higher 8 Goal at its 100% owned Madsen Property situated within the Crimson Lake Gold District of Northwestern Ontario, Canada.
UPPER 8 HIGHLIGHTS:
- Gap WRL24-002 Intersected 4.1m @ 14.20 g/t Au, from 354.8m to 358.9m, Together with 1.3m @ 44.17 g/t Au, from 357.0m to 358.3m.
- Gap WRL24-003 Intersected 1.85m @ 6.33 g/t Au, from 332.45m to 334.30m, Together with 0.5m @ 20.63 g/t Au, from 333.8m to 334.3m.
The Higher 8 goal is a shallower geologic analog to the well-known high-grade 8-Zone. It’s hosted in ultramafic rocks roughly 750 meters up-plunge from the primary 8-Zone deposit.
The 8 Zone at the moment comprises an Indicated mineral useful resource of 87,700 ounces (“oz”) grading 18 grams per tonne gold, with an extra Inferred useful resource of 18,200 ouncesgrading 14.6 g/t Au.
“For decades, the 8-Zone has been the shiny penny of the Madsen project,” Will Robinson, VP of Exploration informed Man Bennett, CEO of World Shares Information (GSN). “Highlighted by previous operators, it is geologically similar to the High-Grade Zone that transformed The Red Lake Complex next door to us.”
“The Upper 8 Target sits in the same type of rocks as the 8-Zone, so naturally when we began putting together our regional surface drill program, it was flagged as an area of interest,” continued Robinson. “There is limited drilling in this area, but while reviewing the available data, the team discovered an anomaly that piqued our interest even further.”
“There was one hole drilled in this area by Placer Dome in 2004 that hit anomalous gold mineralization. When the team went to pull the physical core from the archive, that interval was missing. The rest of the core from that hole was there, except that one interval. It’s presumed that this interval was pulled for show core or metallurgical work, though that cannot be verified. This clue, along with 8-Zone style alteration and shearing within a few adjacent holes along the same projected structural plane was enough to warrant a few test holes,” said Robinson.
The October 2, 2024 reported assays are the primary drill outcomes introduced from an ongoing 10,000m floor exploration drilling program designed to check plenty of high-priority targets throughout the Madsen property.
“The initial results from Upper 8 drilling reinforce our thesis that there is a real potential for discovery of another 8-Zone type deposit on our highly prospective Madsen property,” said Robinson within the firm press launch.
“The relatively shallow position of Upper 8 allows for us to drill this target effectively from surface with a high degree of accuracy. With two out of three of the initial holes drilled at Upper 8 returning high-grade gold mineralization where projected, we have already added a second drill dedicated to drilling at Upper 8.”
Complete U.S. debt is at the moment $35 trillion – about 120% of the U.S. GDP.
“All the emerging economies are de-dollarizing,” defined West Crimson Lake Gold co-founder and main shareholder Frank Giustra, “They are selling their dollars and buying gold. There’s no control to reel in that debt. At some point, you’re going to get a fiat currency crisis.”
No act of Congress can magically make a tonne of gold seem on the garden of the White Home. On this inflationary atmosphere, investing in onerous belongings like gold, turns into a viable technique to guard and develop wealth.
“Since the pandemic, global money supply has skyrocketed. The US Dollar has lost 25% of its purchasing power over the last 4 years alone. Clearly, inflation was not ‘transitory,” reported Kitco.com on October 4, 2024.
“The most popular gold ETF, $GLD, has recorded $644 million cumulative inflows year-to-date. Historically high demand has put gold on track for its best annual return since 1979, up 28% year-to-date.”
Supply: https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/#the-growing-national-debt
On September 26 2024, Enterprise Tv (BTV) interviewed WRLG CEO Shane Williams about present work applications and the mine re-start plan.
“Over 40 million ounces of gold have been pulled out of this region, all high grade,” Williams informed BTV, “It produced over 2 million ounces at an average grade of nine grams gold per tonne. From an infrastructure perspective; it has a mill in place, it has a tailings facility and it has permits.”
“Madsen is set up to go straight back into production,” continued Williams. “We’re looking at this as a base for a large gold mining company. We’ve assembled the technical team, and we have great backers, like Frank Giustra and his network.”
WRLG expects to finish a pre-feasibility research (PFS) in assist of the mine restart objective in 2025.
The Madsen Mine deposit presently hosts an NI 43-101 Indicated useful resource of 1.65 million ounces of gold grading 7.4 g/t gold and an Inferred useful resource of 0.37 Moz of gold grading 6.3 g/t gold. [1.] [2.] [3.]
The technical info introduced on this information launch has been reviewed and accredited by Will Robinson, P.Geo., Vice President of Exploration for West Crimson Lake Gold and the Certified Particular person for exploration on the West Crimson Lake Challenge, as outlined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
Contact: man.bennett@globalstocksnews.com
Disclaimer: West Crimson Lake Gold paid World Shares Information (GSN) $1,500 for the analysis, writing and dissemination of this content material.
Full Disclaimer: GSN researches and fact-checks diligently, however we cannot guarantee our publications are free from error. Investing in publicly traded shares is speculative and carries a excessive diploma of threat. GSN publications could include forward-looking statements equivalent to “project,” “anticipate,” “expect,” that are based mostly on affordable expectations, however these statements are imperfect predictors of future occasions. When compensation has been paid to GSN, the quantity and nature of the compensation will probably be disclosed clearly.
References:
- SRK Consulting. (2021). Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada (West Crimson Lake Gold Mines, Ed.) [Assessment of Impartial NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the PureGold Mine, Canada.
- Mineral sources are estimated at a cut-off grade of three.38 g/t Au and a gold worth of US1,800/oz. Please confer with the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral 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 accessible on the Firm’s web site and on SEDAR+ at www.sedarplus.ca
- Mineral sources that aren’t mineral reserves should not have demonstrated financial viability. Please confer with the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral 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 Useful resource Estimate has an efficient date of December 31, 2021 and excludes depletion of mining exercise throughout 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 up to date report. A full copy of the SRK report is accessible on the Firm’s web site and on SEDAR+ at www.sedarplus.ca
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