Name of the Project
Madsen gold project restart.

Location
Red Lake mining district of Ontario, Canada.

Project Owner/s
Minerals exploration and development company West Red Lake Gold Mines.

Project Description
Madsen is a fully permitted gold mine, situated on top of highly prospective exploration targets in a world-class gold district.

The project has total indicated resources estimated at 6.9-million tonnes grading 7.4 g/t gold, and inferred resources estimated at about 1.82-million tonnes grading 6.3 g/t gold.

The project consists of an 800 t/d mill, an underground mine, a tailings facility and water treatment plant.

Potential Job Creation
The Madsen mine’s workforce has increased by 48 people, with several leadership positions filled. 

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
More than C$350-million has been invested to date.

Planned Start /End Date
A targeted restart date has been set at 2025.

Latest Developments
West Red Lake Gold Mines has resumed operations at its Madsen gold mine following a temporary shutdown prompted by a fatal underground incident on June 16.

The mine and mill were halted after the incident. The mill resumed operations after about 40 hours, while mining restarted 12 hours later. Ramp-up to full operations is continuing, contingent on workforce availability and safety protocols.

Mill head grades have improved as the company transitions from lower-grade stockpiled sill material, processed during a May bulk sample programme, to freshly mined stope ore. Between June 12 and 15, the average milled grade increased to 6.5 g/t from about 3 g/t earlier in the month.

"The mill has been averaging 650 t/d with 95% gold recovery and has been tested at higher levels several times without issue," president and CEO Shane Williams has indicated.

Since ramp-up started on May 11, operations have sourced ore primarily from the South Austin and McVeigh zones, with additional production planned from Austin stopes later this year.

The mill continues to operate at a consistent rate of 650 t/d with gold recoveries averaging 95%. Tailings and water treatment systems are functioning as planned, the company has said.

To support ramp-up, the company is expanding its underground fleet. Recent and expected deliveries include a Caterpillar R1300G scoop loader, two Epiroc 42-t haul trucks arriving in August and September, three Komatsu 4-yard scoops set to arrive in July, and two Maclean bolters expected in July and September.

Underground drilling continues at pace, with 38 393 m completed to date, including 19 904 m in the second quarter. Drilling has targeted high-grade zones at South Austin.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
West Red Lake Gold Mines, tel +1 604 609 6132 or email investors@wrlgold.com.