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This Chart Buried in a Technical Report Reveals West Red Lake Gold's Potential Reserve Count in the Current Gold Environment
(TheNewswire) Vancouver, BC, February 27, 2025 – TheNewswire - Sponsored con...
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"This Chart Buried in a Technical Report Reveals West Red Lake Gold's Potential Reserve Count in the Current Gold Environment\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, BC, February 27, 2025 –\n \n\n TheNewswire -\n \n\n Sponsored content\ndisseminated on behalf of West Red Lake Gold. On February 18, 2025,\nWest Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF)\n \n announced\nthe filing of its\n \n\n independent pre-feasibility study\n(PFS)\n \n\n prepared by SRK Consulting.\n \n\n\n The\n \n\n reserve\ncut-off price that was used in the PFS\n \n\n was\n \n\n US$1,680 per oz\n \n\n .\n \n\n\n\n “Investors are surprised how conservative that number\nis,” Gwen Preston, VP of Communications told Guy Bennett, CEO of\nGlobal Stocks News (GSN). “But there’s a simple\nexplanation.”\n \n\n\n\n “SRK has internal guidelines for a PFS,” Preston\ncontinued. “The reserve cut-off price would be higher for a full\nFeasibility Study. The fact that we are going directly from PFS to\nproduction does not change SRK’s guidelines.”\n \n\n\n\n Buried in the “Other Relevant Data” section of the\n \n\n\n\n 395-page technical\nreport\n \n\n\n\n and noted in the Executive\nSummary, is a chart that shows how the reserve count could potentially\nchange at gold prices closer to the current price of US$2,900.\n \n\n\n The SRK chart below reveals what tonnes from the resource would have\nmade it into consideration for inclusion in the reserve at higher\nreserve gold price cut offs.\n \n\n\n\n\n\n\n The first blue column is the WRLG reserve as stated in the PFS, at the\nUS$1680 cutoff price. This reserve was drawn from the second blue\ncolumn, which shows the tonnes of the resource that were considered\nfor inclusion in reserve.\n \n\n Access development and other cost factors were then applied to reach\nthe reserve base shown in the first column. That’s why columns one\nand two have US$1,680 in the label, but different totals.\n \n\n One takeaway is that access development is very important at Madsen.\nIt was the force that reduced potential reserve tonnes by half to get\nthe actual reserve.\n \n\n The other takeaway is that increasing the reserve cut off price to\nUS$2,400 boosts the resource tonnes co...