06:41 AM EDT, 06/12/2024 (MT Newswires) -- West Red Lake Gold Mines ( WRLGF ) overnight Tuesday reported drill results from the Madsen mine in Ontario, focused on the high-grade South Austin Zone to continue building an inventory for the eventual restart of mine production.

Highlights of the results include 16.69 grams per tonne (g/t) gold over 8 meters, 6.17 g/t gold over 17.83 meters and 7.48 g/t gold over 12 meters.

High-grade mineralization is starting to define a new, previously unrecognized zone that has now been intercepted in 10 holes. This will continue to be an expansion target as drilling continues in the South Austin area, the company said.

"The exceptional drill results highlighted in this news release really demonstrate the quality of the South Austin zone," said West Red Lake President and CEO Shane Williams. "We are encouraged by the very broad intercepts of mineralization averaging above 6 grams per tonne gold, which are accentuated by a number of very high-grade intervals."

The thicker portions of the zone could be more amenable to higher tonnage mining methods, which could help cut overall mining costs, Williams noted.

West Red Lake's share price lost 1.6% to $0.60 on Tuesday.