Toronto, Ontario (FSCwire) - West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (FWB: HYK) (OTC: HYLKF) announces the Fall 2015 exploration plan on the Company’s 3100 hectare West Red Lake Project located in the prolific Red Lake Gold District, 20 km west of Balmertown, Northwestern Ontario, Canada.
The Company plans to drill several drill holes into an under explored portion of the project which is located on the gold bearing geological trend that hosts the three former producing gold mines situated on the Company’s property. The area to be explored is along an east-west strike length of 500 metres and is located between the Rowan Mine gold system and the area of the Structural Intersection. The purpose of the exploration plan is to extend the Rowan Mine gold system further to the east along the geological trend.
The Rowan Mine gold system includes several potentially economic gold zones within a 1,000 metre strike length which has been outlined by previous exploration drill programs. The 500 metre long area to be explored is immediately to the east of the Rowan Mine gold system and does not currently have any known gold zones. Exploration drilling is planned to follow up on historical information where the presence of elevated levels of gold indicate potential to discover new high grade gold zones.
The area to be explored lies within the east-west trending regional shear structure, the Pipestone Bay-St Paul Deformation Zone. Gold zones are hosted within a sequence of hydrothermally altered mafic volcanics with intercalated felsic volcanics and porphyries as well as ultramafics. The gold mineralization is associated with quartz veining and increased iron sulphide mineralization. The adjacent Rowan Mine gold zones are sub-vertical with a slight easterly plunge.
The Company property is situated on the Red Lake Archean Greenstone Belt which hosts the high grade gold mines of the Red Lake Gold District. The Pipestone Bay-St Paul Deformation Zone strikes east-west across the 12 km length of the property, and then continues east towards the town of Red Lake. A second gold bearing regional structure, the Golden Arm structure, trends on to the property from the southwest and trends toward and then intersects with the Pipestone Bay-St Paul Deformation Zone “the Structural Intersection” approximately 1 km east of the Rowan Mine shaft. Twenty kilometres to the east a similar geologically important intersection of two regional gold bearing structures occurs proximal to the world class Red Lake Mine and Campbell Mine, providing a highly favourable geological model illustrating the significant exploration potential for high grade gold zones on the Company’s West Red Lake Project.
The Company also announces that Daniel Pembleton is resigning from the board of directors of the Company effective October 30, 2015. Mr. Pembleton is the President of Accilent Capital Management Inc., which plans to continue to financially support the Company. Accilent Capital directly and indirectly controls 33.35% of the voting securities of the Company on a fully diluted basis. Company President John Kontak will join the board of directors to take up the seat vacated by Mr. Pembleton.
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development 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. The Company has assembled a significant property position totalling 3100 hectares in west Red Lake (the "West Red Lake Project") which contains three former producing 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 60%-owned joint venture with Red Lake Gold Mines, a partnership of Goldcorp Inc. and Goldcorp Canada Ltd. The properties cover a 12km strike length along the West Red Lake Trend and the Company plans to continue to explore these properties both along strike and to depth. To find out more about West Red Lake Gold, please visit our website at http://www.westredlakegold.com.
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For additional information, please contact: John Kontak, President Phone: 416-203-9181 Email: jkontak@rlgold.ca
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Certain statements contained in this news release constitute "forward looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/westred10302015.pdf
Source:
West Red Lake Gold Mines Inc. (CSE:RLG) http://www.westredlakegold.com/
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