West Red Lake Gold Completes Phase One Madsen Mine Shaft Refurbishment
West Red Lake’s Shaft Phase 1 commenced at 200 tpd, falling short of the previously targeted 300-500 tpd production rate.
West Red Lake Gold Mines Ltd. (WRLG) has completed Phase One of its phased Madsen Mine shaft refurbishment, successfully demonstrating the safe hoisting of both ore and waste. This initial phase supports approximately 200 tonnes per day of hoisting capacity. Major equipment for Phase Two is now on site, with installation and upgrade work currently underway.
The project’s subsequent milestones aim to increase capacity significantly. Phase Two targets approximately 700 tonnes per day in the second half of 2027, while Phase Three aims for about 2,000 tonnes per day in the second half of 2028. Phase One and Phase Two reach Level 10 at approximately 500 metres depth, whereas Phase Three would support haulage from deeper levels, potentially Level 17. Management frames the shaft as complementary to truck haulage, a strategy expected to lower operating costs and all-in sustaining costs (AISC) over time. The release includes no new production, cost, grade, resource, reserve, or financial figures.
West Red Lake Gold Mines Ltd. (WRLG) issued a non-earnings operations update confirming a previously flagged infrastructure milestone. The company reported that its shaft is now hoisting material and Phase Two equipment has arrived on site. However, the demonstrated Phase One capacity of 200 tpd falls short of the 300 to 500 tpd previously communicated for that phase.
The shaft remains small relative to the Q2 2026 mill processing rate of about 842 tpd, limiting near-term cost and volume benefits. The update included no production guidance change, no reserve addition, and no new capital cost disclosure. The stock had already recovered from the C$0.61 June low to about C$0.78 prior to this news.
West Red Lake Gold Mines Ltd. (WRLG) is a Canadian gold producer and developer operating in the Red Lake district of Ontario. Its flagship Madsen Mine achieved commercial production effective January 1, 2026. The company controls a 47 km² Red Lake land package and a separate 31 km² Rowan property.
The company’s strategy is hub-and-spoke, utilizing the Madsen mill and infrastructure to process multiple high-grade satellite deposits. 100%-owned satellite targets include Rowan, Fork, Starratt-Olsen, Mount Jamie, Wedge, and others.