10:25 AM EDT, 05/07/2024 (MT Newswires) -- Shares in West Red Lake Gold Mines ( WRLGF ) were at last look steady, having eased a tad earlier, after the company reported Tuesday drill results from its Madsen Mine in the Red Lake Gold District of northwestern Ontario.

A statement noted the latest drill results are focused on the high-grade South Austin Zone which currently contains an Indicated mineral resource of 474,600 ounces grading 8.7 grams per tonne (g/t) gold (Au), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.

Highlights include Hole MM24D-07-4198-012, which Intersected 3.1m at 21.33 g/t Au; and Hole MM24D-07-4198-009, which Intersected 9.0m at 6.75 g/t Au; and Hole MM24D-07-4198-010, which intersected 2.55m at 6.08 g/t Au.

Shane Williams, President & CEO, in Tuesday's statement said, "We are happy to report more encouraging results out from the South Austin definition program. De-risking this high-priority area of the Madsen deposit will be a key component for the mine restart plan, and the team continues to execute the drill program safely and efficiently."