West Red Lake Gold Mines CEO Shane Williams joined Steve Darling from Proactive at the Vancouver Resource Investment Conference (VRIC) to provide updates on the company’s Madsen Mine project in the Red Lake Gold District of northwestern Ontario.
Williams shared details about the recently announced pre-feasibility study for the imminent restart of the 100% owned Madsen Mine. The study focuses on an initial reserve mine plan that taps well-defined, tightly drilled parts of the deposit close to existing workings. Despite the focused scope, the project is projected to produce approximately 70,000 ounces of gold per year, generating nearly $400 million in post-tax free cash flow over a 7-year mine life.
Williams also outlined the next steps for the company as it moves toward restarting the mine.
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