08:09 AM EDT, 10/08/2024 (MT Newswires) -- West Red Lake Gold Mines ( WRLGF ) , which lost 2.5% yesterday, on Tuesday reported drill results from its Madsen Mine located in the Red Lake Gold District of northwestern Ontario.

The company intersected 37.09 g/t gold over 3.12m and 18.11 g/t gold over 2.76m at South Austin.

The results follow on the intercepts that were announced last month, where drilling returned 49.39 g/t gold over 4.48 m and 18.46 g/t gold over 11.2m.

According to a statement, the purpose of this drilling was definition within priority areas of South Austin to support the restart of production at the Madsen mine in the second half of next year. West Red Lake expects to complete a pre-feasibility study in support of that restart goal in the coming months.