West Red Lake Gold Mines (CSE: RLG) is the latest focus of our Spotlight Series, where we bring you market insights directly from industry insiders. Today we’re chatting with Executive Chairman Tom Meredith to determine what is so unique about the opportunity West Red Lake Gold provides to the market.
West Red Lake is a gold exploration and development company with a focus in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced 30 million ounces of gold from high grade zones.
West Red Lake Gold has assembled a significant property position totaling 3,100 hectares in the western Red Lake area which contains three former gold mines. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 62%-owned joint venture with Evolution Mining. The West Red Lake Project property covers a 12 kilometre strike length along the Pipestone Bay St Paul Deformation Zone and the Company plans to continue to explore the property both along strike and to depth.
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Most significantly, the company currently has a 43-101 compliant inferred resource estimate of 4,468,900 tonnes at an average grade of 7.57 grams per tonne gold. The total amount of gold currently estimated to be in the ground is 1,087,700 ounces at the Rowan Mine deposit.
Here’s Tom Meredith, Executive Chairman of West Red Lake Gold to tell us more about RLG’s prospects.
FULL DISCLOSURE: West Red Lake Gold Mines Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover West Red Lake Gold Mines Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
