West Red Lake Gold Mines Announces Positive Economic Assessment for Rowan Project

West Red Lake Gold Mines has released a positive Preliminary Economic Assessment for its Rowan project in northwestern Ontario, projecting strong financial returns with an after-tax internal rate of return (IRR) of 42% at $2,500 per ounce gold and a net present value (NPV) of C$125.3 million. The project anticipates producing approximately 35,230 ounces of gold annually over five years, operating at 385 tonnes per day, with all-in sustaining costs estimated at $1,408 per ounce. The Rowan project benefits from nearby mills with excess capacity, allowing for low initial capital costs of around C$70 million through toll milling. The deposit features high-grade veins with good gold recovery rates between 76% and 95%, and 63% of mined tonnes and 72% of ounces are in the Indicated resource category, supporting confidence in the resource base. West Red Lake plans to advance the project through a Pre-Feasibility Study by Q3 2026, supported by ongoing environmental data collection and regulatory engagement aimed at expediting permitting. Additionally, significant exploration potential exists to expand mineralization along existing and new veins, underscoring the growth prospects of the Rowan project in a favorable gold price environment.