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West Red Lake Gold Announces Positive Preliminary Economic Assessment for the Rowan Project, Including Over 35,000 oz. Average Annual Production and 42% After-Tax IRR
VANCOUVER, British Columbia, July 08, 2025 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (&...
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"West Red Lake Gold Announces Positive Preliminary Economic Assessment for the Rowan Project, Including Over 35,000 oz. Average Annual Production and 42% After-Tax IRR\n\n\n\n VANCOUVER, British Columbia, July 08, 2025 (GLOBE NEWSWIRE) --\n \n West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF)\n \n is pleased to announce the positive results of a Preliminary Economic Assessment (“\n \n PEA\n \n ”) prepared in accordance with National Instrument 43-101 –\n \n Standards of Disclosure for Mineral Projects\n \n (“\n \n NI 43-101\n \n ”) for a toll milling mine operation at its 100%-owned Rowan project in the Red Lake Gold District of northwestern Ontario, Canada (“the\n \n Rowan Project\n \n ”).\n \n\n All dollar amounts in this news release are in Canadian dollars unless otherwise indicated.\n \n\n The effective date of the PEA is June 30\n \n th\n \n , 2025, and a technical report relating to the PEA (the\n \n “Technical Report”\n \n ) will be filed on SEDAR+ within 45 days of this news release.\n \n\n\n Rowan PEA Highlights:\n \n\n\n\n\n High-Grade Efficient Mine\n \n : Underground mine via long hole retreat method, delivering an average diluted head grade of 8.0 grams per tonne (“\n \n g/t\n \n ”) gold (“\n \n Au\n \n ”), accentuated by 10.4 g/t Au average grade in Year 1.\n \n\n\n Notable Production\n \n : 35,230 oz. average annual Au production over the 5-year mine life from an average mining rate of 385 tonnes per day (“\n \n tpd\n \n ”).\n \n\n\n Strong Value:\n \n $125.3M post-tax Net Present Value (“\n \n NPV\n \n ”) at US$2,500 per oz Au. Post-tax NPV rises to $239M at US$3,250 per oz Au.\n \n\n\n Low Costs and Strong Returns:\n \n US$1,408/oz all-in sustaining cost (“\n \n AISC”\n \n ) and 41.9% post-tax internal rate of return (“\n \n IRR\n \n ”), underscoring the viability of the Company’s second potential mine in the region. IRR increases to 81.7% at a US$3,250/oz gold price.\n \n\n\n Modest Initial Capital\n \n : Multiple mills in the area with excess capacity create the opportunity to develop Rowan as a toll milling operation with initial capital of just over $70 million.\n \n\n\n High Confid...