(Kitco News) - Shane Williams, CEO of West Red Lake Gold Mines, anticipates that production at the Madsen project will start mid-decade.
On Thursday Williams spoke to Kitco Mining.
West Red Lake Gold Mines (TSXV: WRLG) is a mineral exploration company advancing its flagship Madsen Gold Mine and the associated 47 km2 land package in the Red Lake district of Ontario. West Red Lake also holds the wholly-owned Rowan Property in Red Lake, with a property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.
West Red Lake is a second run at making the Madsen project viable. Former owners, Pure Gold, went into creditor protection last year. West Red Lake cataloged some of the failures from the last mine: too much debt, rushing project completion and lack of clear resource modeling.
For a second attempt at making the project work, WRLG has attracted industry heavy hitters such as Duncan Middlemiss, Tony Makuch and Frank Giustra who holds an 11% share.
"We brought in a team of...project builders," said Williams. "We're helping to set the company up to be more of a long-term growth story. The plan is to build the next major gold mining company in Canada."
When operating, Williams sees a mine at about 80,000 to 100,000 ounces a year. Williams is hoping for production to start in 2025
