(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 4 , 2024 - Red Lake Gold Inc. (CSE: RGLD) (“ Red Lake Gold ” or the " Corporation ") is pleased to report it has successfully and safely completedthe recent phase of field exploration at its Whirlwind Jack GoldProject (“Whirlwind Jack”) (see news release, Red Lake Gold Inc.Commences 2024 Exploration Program at Whirlwind Jack, dated May 28,2024).
During the course of the environmentally respectfulfield program, which was performed by Thunder Bay-based FladgateExploration Consulting Corporation (“Fladgate”), a total of 966grid-based soil samples and 35 prospecting samples were collected. Therecent exploration work comprised the most substantive ground-basedexploration program undertaken to-date at Whirlwind Jack by Red LakeGold. The aggregate total of 1,001 samples have been delivered to alaboratory in Ontario and assay results are expected to be receivedwithin the next four to six weeks.
Of material note to this news release, the Corporationreports that field work by Fladgate identified both mafic and felsicmetavolcanic lithologies at Whirlwind Jack within the area targeted bythe herein-described field program. In conjunction with thesefindings, the Fladgate exploration teams mapped over 50 site locations(exposing various lithologies), with significant areas of WhirlwindJack remaining to be mapped in future efforts.
“This is an exciting time for Red Lake Gold, as wellas its shareholders and project constituents. We remain focused on ourcorporate goal to be the junior exploration company that makes thenext important gold discovery in the Red Lake mining district.Ground-truthing work by our exploration team has revealed that bothmafic and felsic metavolcanic lithologies are located within ourinitial targeted exploration area, and this is an importantdevelopment as those lithologies have demonstrated prospectivity forgold-endowment elsewhere in the region. We anxiously await lab resultsfor many grid-based soil (and prospecting) samples that Red Lake Goldbelieves may help highlight prospective areas to make a gold discoverywithin at Whirlwind Jack” stated Ryan Kalt, Chief Executive Officerof Red Lake Gold.
As diagrammed by prior news release, the Corporationconfirms that the program substantively adhered to the plannedlocations (see Figure 1 below), broadly collected within a prioritizedeast-west magnetic corridor adjoining the adjacent Great Bear Project(which in turn is being advanced by Kinross Gold Corporation).
Figure1 – Whirlwind JackGeophysical Project Map with Planned Sample Locations.
The above-described lab assays are anticipated to bereceived by the Corporation’s geological consultants within 4 to 6weeks, with results then expected to be then compiled and released byRed Lake Gold around mid-August (or sooner if available).
The exploration program was almost exclusively focusedon gold-centric exploration data, however, certain soil samples whichoverlayed an EM anomaly located during the Corporation’s TDEM surveyflown last summer (see news release, Red Lake Gold Inc. EngagesProspectAir for a TDEM Exploration Survey at Whirlwind Jack, datedJuly 20, 2023) are scheduled to receive additional screening for basemetal potential, specifically copper and nickel.
Depending upon the results of the current program andfunding availability, the Corporation may consider additional in-fillsampling (and/or other field work) in the near-to-mid term on anytarget areas that emerge, as well as studying exploration techniques(e.g. lake sediment or IP surveys) for core project areas that aresituated within the magnetic low corridor (see Figure 1 above) but arenot otherwise examined through traditional soil sampling due to theirtopographical nature.
The Corporation would like to extend its appreciationto Fladgate and its involved team members for their safe and diligentcompletion of the above-described field program. Red Lake Gold looksforward to near-term opportunities to further engage their geologicexpertise and demonstrated field abilities as it advancesforward-moving exploration efforts at Whirlwind Jack.
The Corporation cautions that theexploration potential of and any exploration results from theWhirlwind Jack Gold Project may differ, materially, from explorationresults of adjoining and/or regional projects, including but notlimited to the adjacent Great Bear Project being advanced by KinrossGold Corporation.
Qualified Person
The technical information in this news release has beenreviewed and approved by Michael Thompson, P.Geo, Fladgate ExplorationConsulting Corporation’s President, who is a Qualified Person asdefined by National Instrument 43-101 and responsible for thetechnical information for this phase of exploration on the WhirlwindJack Gold Project.
About Red Lake Gold Inc.
Red Lake Gold Inc. is a Vancouver-based junior miningexploration company, traded on the Canadian Securities Exchange (CSE)under the symbol “RGLD”. For more information, please visitwww.redlakegold.ca.
The Corporation is subject to various risks anduncertainties, including those risks and uncertainties set out in itspublic filings, such public filings generally being available, withoutlimitation, through SEDAR+ (www.sedarplus.ca) and the Corporation’sDisclosure Hall on the CSE website(thecse.com/listings/red-lake-gold-inc/#disclosure).
On Behalf of the Board ofDirectors
Ryan Kalt
Chief Executive Officer
T: 604.687.2038
Email: info@redlakegold.ca
Forward-Looking Statements
This news release contains forward-looking statements. Forward-lookingstatements address future events and conditions and therefore involveinherent risks and uncertainties, including but not limited to theCorporation’s exploration plans at its Whirlwind Jack Gold Project,the timing, completion and extent of such exploration plans and theresults of any such exploration work to the extent such work issuccessfully completed, the timing and outcome of any pending labassay results, as well as to the general exploration potential and/orgeological interpretations involving the Whirlwind Jack Gold Projectas held by the Corporation or otherwise. Actual results may differmaterially from those currently expected or forecast in suchstatements.
Neither the CSE nor its RegulationServices Provider (as that term is defined in the policies of the CSEExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Copyright (c) 2024 TheNewswire - All rights reserved.