Northwire Canada EditionThursday, July 30, 2026
Northwire
ZAC 0.060 +0.0% ELE 21.18 −1.7% GHRT 0.750 +0.0% AEM 203.13 +0.1% JTWO 0.135 +0.0% EDR 10.63 −2.8% VMXX 0.750 +5.6% K 32.71 −1.5% AGI 40.13 −1.4% VGZ 2.40 +0.8% CAN 0.055 +0.0% NVO 0.055 +0.0% ARIS 19.57 −4.2% IVN 10.59 −0.8% MCI 0.165 +0.0% MTS 0.130 +0.0% ZAC 0.060 +0.0% ELE 21.18 −1.7% GHRT 0.750 +0.0% AEM 203.13 +0.1% JTWO 0.135 +0.0% EDR 10.63 −2.8% VMXX 0.750 +5.6% K 32.71 −1.5% AGI 40.13 −1.4% VGZ 2.40 +0.8% CAN 0.055 +0.0% NVO 0.055 +0.0% ARIS 19.57 −4.2% IVN 10.59 −0.8% MCI 0.165 +0.0% MTS 0.130 +0.0%
Drill Results Routine +

West Red Lake Gold Reports 219.73 g/t Au over 4.8m, 148.36 g/t Au over 3m and 133.13 g/t Au over 2.5m in Austin 904 Complex - Madsen Mine

Madsen Mine hits high-grade stride as commercial production ramps up in record gold environment.

Executive Summary

The most recent news release (February 25, 2026) reports high-grade underground drill results from the Austin 904 Complex and South Austin zones at the Madsen Mine. Significant intercepts include 219.73 g/t Au over 4.75m (including a "jewelry box" 1m at 1,016.57 g/t Au) and 148.36 g/t Au over 3m. These results follow a series of positive updates in early 2026, including the declaration of commercial production (effective January 1, 2026) and high-grade satellite results from the Rowan Project (84.3 g/t Au over 1m).

Material Impact

The impact is Routine - Positive. While the grades are spectacular (exceeding 1,000 g/t in one instance), they are consistent with the "jewelry box" style mineralization the company has been successfully delineating for the past year. - Operational Validation: These results confirm the continuity of high-grade lenses at depth (650m), which is critical for maintaining the 6+ g/t mill feed grade projected for Q1 2026. - Resource Growth: The drilling success in the Austin 904 Complex suggests potential for new high-grade lenses not fully captured in previous models. - Strategic Context: This news reinforces the "hub-and-spoke" model, showing that the "hub" (Madsen) has high-grade longevity while the "spokes" (Rowan, Fork) are being de-risked.

WRLG · Price
Company Overview

West Red Lake Gold Mines owns the Madsen Gold Mine in the Red Lake District, Ontario. The project features a fully permitted 800 tpd mill, a 1,200m haulage way (Connection Drift), and a significant resource (1.65 Moz Indicated at 7.4 g/t Au). The company is transitioning from a developer to a mid-tier producer using a hub-and-spoke model, with the Rowan and Fork deposits serving as satellite feed.

Read the original news release →

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