Madsen Mine mill restarts processing low-grade material

West Red Lake Gold Mines Ltd. has announced important updates on the Madsen Mine in British Columbia. The mine's mill has restarted and is currently processing low-grade material. This marks a significant step in preparing for the introduction of Stope 1 of the bulk sample next week. The camp at the mine is now fully operational and can house 114 workers, with 60% of them coming from the local area. This initiative supports the local community and helps address housing needs. The company celebrated this achievement with a ribbon-cutting ceremony led by Shane Williams, the President and CEO. Underground development at the mine is progressing well, with the daily development rate increasing. It has gone up from an average of 20 meters per day in January to nearly 24 meters per day in February. Efficient access to mining areas is crucial for operations, and the company is pleased with the team's successful progress. The Connection Drift, which is part of the mine's infrastructure, is almost complete, with only 84 meters left to finish. Precision drilling has ensured that the different parts of this drift align correctly. Additionally, the company has accessed part of a credit facility, drawing $7.5 million of a planned $15 million tranche. The funds will go toward completing the mine's restart and other operational costs. This loan has a maturity date of June 30, 2028, with specific repayment terms. West Red Lake Gold Mines Ltd. focuses on advancing its Madsen Gold Mine, which is part of the productive Red Lake Gold District known for its rich gold deposits.