12:22 PM EDT, 05/13/2025 (MT Newswires) -- (Updates shares.)

West Red Lake Gold Mines ( WRLGF ) on Tuesday reported the latest drill results from the Madsen mine in Ontario.

Highlights include 48.97 grams per tonne (g/t) gold over 18.7 meters, 52.86 g/t gold over 4.5 meters, and 25.49 g/t gold over 7.5 meters at the South Austin zone.

"As the underground definition drill program at Madsen advances at depth we continue to unlock significant value within the orebody," said chief executive Shane Williams.

The company said drilling aimed to expand priority areas of South Austin to continue adding to the resource inventory to support the production restart of Madsen.

"Having just reported excellent reconciliation results from our bulk sampling campaign, and with strong tailwinds from a rising gold market, the team's confidence level is high as we move towards ramping up production at Madsen in the second half of 2025," Williams said.

The company shares were last seen up $0.06 to $0.81 on the TSX Venture Exchange.

Price: 0.82, Change: +0.07, Percent Change: +9.33