Gwen Preston, Vice President of Investor Relations at West Red Lake Gold Mines, highlighted the accelerated timeline for the company’s Madsen project during an interview with Kitco Mining at THE Mining Investment Event of the North in Quebec City in early June.
West Red Lake Gold Mines (TSXV: WRLG) is advancing the Madsen gold mine, located in Ontario’s prolific Red Lake gold district. This project, previously owned by the now-defunct PureGold, has already seen over $350 million in investment. Key infrastructure includes a newly constructed mill with a capacity of 800 tonnes per day and an existing tailings facility with ample capacity. The site features two ramp portals and a 1,275-meter shaft, with the mill constructed and commissioned in 2020.
The Red Lake gold district in Northwest Ontario is famous for its rich gold deposits, having produced over 30 million ounces of gold from high-grade zones. The district hosts some of the world’s richest gold deposits, making Madsen a highly promising venture.
Preston emphasized that the project benefits from parallel advancement of multiple work streams, significantly speeding up the time to production. This approach leverages the substantial existing infrastructure at Madsen.
“We aim to have this mine operational in the second half of next year,” Preston stated. “We’re simultaneously progressing through resource studies, permitting, feasibility study, engineering, financing, and starting construction. This parallel process is possible because a significant portion of the mine is already built.”
The company has attracted experienced mine builders like Anthony Makuch and Duncan Middlemiss, with Shane Williams serving as CEO. Their expertise is expected to drive the project towards its goal of initiating production by late next year.
Coverage of THE Mining Investment Event of the North is sponsored by EMX Royalty.
