12:10 PM EDT, 04/01/2025 (MT Newswires) -- West Red Lake Gold Mines ( WRLGF ) Tuesday reported drill results from its Madsen Mine located in the Red Lake Gold District of northwestern Ontario.

The company said best results from drilling into the Austin Zone at the mine included 10.5 meters testing at 12.43 grams per tonne of gold, and 4.3 meters testing at 30.16 gpt of gold.

The restart of production at the Madsen mine is expected to commence in 2025.

"It's a huge advantage that our team has been active underground at the Madsen mine for almost two years, because we have been able to get drills to many high priority areas of the deposit ahead of mine restart," chief executive Shane Williams said. "This includes deeper portions of the resource that possess very attractive tonnage and grade profiles."

The company's shares were last seen up $0.005 to $0.585 on the TSX Venture Exchange.

Price: 0.59, Change: +0.01, Percent Change: +0.86