06:33 AM EDT, 07/08/2025 (MT Newswires) -- West Red Lake Gold Mines ( WRLGF ) released results of a preliminary economic assessment for a toll milling mine operation at the Rowan project in Ontario.

The operation has 35,230 ounces of average annual gold production over the five-year mine life from an average mining rate of 385 tonnes per day.

The underground mine delivers an average diluted head grade of 8 grams per tonne gold, accentuated by 10.4 g/t gold average grade in its first year.

It also has a $125.3 million post-tax net present value at US$2,500 per gold ounce. Post-tax NPV rises to $239 million at US$3,250 per gold ounce.

The operation has all-in sustaining cost of US$1,408/ounce and 42% post-tax internal rate of return. IRR increases to 82% at a US$3,250/ounce gold price.

The PEA mine design includes 63% of mined tonnes and 72% of mined ounces from the Indicated category. The mine has free gold-dominant mineralization resulting in 76% to 95% gold recovery.

The company plans to complete a pre-feasibility study on the Rowan project by the third quarter of 2026.