Mining Stock Daily West Red Lake Gold Update as Development Continues for a Restart of Madsen this Year
May 21, 2025
In this discussion, Gwen Preston, an expert in mining and exploration, delves into the ongoing developments at West Red Lake Gold's Madsen Mine. She unpacks the impressive results from recent bulk sampling that could predict future mining success. The conversation emphasizes the importance of compliance and resource estimation, showcasing the operational model's role in enhancing confidence. Preston also shares insights on strategic planning for a production restart, revealing optimistic projections for cash flow as they aim for a significant stockpile.
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Precise Drilling Boosts Accuracy
- Tightening drill spacing to about seven meters before engineering stopes improves mining accuracy.
- This precise approach enables mining to meet grade expectations and is crucial for successful operations in Red Lake.
Bulk Sample Validates Model
- The bulk sample mining validated the new high-resolution modeling approach.
- They mined about 14,500 tons producing nearly 2,500 ounces of gold, closely matching their predictions.
Use Production to Build Confidence
- Update resource estimates only when substantial drilling impacts a significant part of the global resource.
- Demonstrate mine value through consistent production results rather than frequent costly feasibility study updates.