https://www.northernontariobusiness.com/
West Red Lake Gold Mines building out its workforce to reach commercial production by year’s end
West Red Lake Gold Mines is aiming for a mid-year restart of its Madsen Mine at Red Lake. The Vancouver mine developer released a prefeasibility study in early January, laying out its plan to bring Madsen back to life in 2025.
In taking over a mine that struggled out of the gate and failed under previous ownership, company management is confident it’s delivered a pragmatic and conservative plan that it can deliver on. With 1.7 million ounces of indicated gold reserves and resources, Madsen’s new mine life is pegged at 7.25 years.
In a Jan. 8 webinar, CEO Shane Williams believes Madsen has “world-class potential” with plenty of upside to bring new deposits into production, to make new discoveries, and lengthen its operating life. Average annual gold production is estimated at 67,600 ounces over six years in that span.
For the rest of this article: https://www.northernontariobusiness.com/mining-the-northwest/mining-the-northwest-red-lakes-madsen-mine-ready-to-restart-10053042