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An announcement from West Red Lake Gold Mines ( (TSE:WRLG) ) is now available.
West Red Lake Gold Mines Ltd. has commenced a 5,000-metre drilling program at its Rowan Project, aiming to upgrade inferred resources to indicated status and gather data for a planned Pre-Feasibility Study (PFS). This initiative is part of a broader strategy to potentially integrate the Rowan and Madsen projects, leveraging shared infrastructure to enhance operational efficiencies and economic outcomes. The drilling program and subsequent studies are expected to bolster the project’s net present value and expedite ore extraction, with the ultimate goal of achieving a combined production rate of up to 100,000 ounces of gold per year. The company is also pursuing an Advanced Exploration permit, supported by Ontario’s streamlined permitting framework, to advance the project towards bulk sample extraction by 2027.
The most recent analyst rating on (TSE:WRLG) stock is a Buy with a C$1.75 price target. To see the full list of analyst forecasts on West Red Lake Gold Mines stock, see the TSE:WRLG Stock Forecast page.
More about West Red Lake Gold Mines
West Red Lake Gold Mines Ltd. operates in the mining industry, focusing on gold exploration and development. The company is engaged in advancing its 100% owned Rowan Project located in the Red Lake Gold District of Northwestern Ontario, Canada.
Average Trading Volume: 2,017,299
Technical Sentiment Signal: Buy
Current Market Cap: C$330.1M
See more data about WRLG stock on TipRanks’ Stock Analysis page.