UbikaResearch has released an initiation report on West Red Lake Gold Mines Inc. (CSE:RLG), a gold exploration company focused on the Red Lake district in Ontario. With Goldcorp as a funding partner, West Red Lake Gold Mines has positioned itself as a great acquisition target likely at a significant premium to the current market valuation.
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced 30 million ounces of gold from high grade zones. The Company has assembled a significant property position totalling 3100 hectares in west Red Lake (the “West Red Lake Project”) which contains three former gold mines. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 60%-owned joint venture with Red Lake Gold Mines, a partnership of Goldcorp Inc. and Goldcorp Canada Ltd. The West Red Lake Project property covers a 12 kilometre strike length along the Pipestone Bay St Paul Deformation Zone and the Company plans to continue to explore the property both along strike and to depth.
Ubika Research/SmallCapPower has received compensation from West Red Lake Gold Mines to provide analyst research coverage. For full disclosure please visit here >>.
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