09:09 AM EDT, 05/02/2024 (MT Newswires) -- West Red Lake Gold Mines ( WRLGF ) on Thursday reported on progress of its ongoing Madsen mill cleanup and gold recovery program at its 100% owned Madsen Mine located in the Red Lake Gold District of northwestern Ontario.

The company carried out a preliminary phase of the Gold Recovery Program in late 2023 that recovered 415 troy ounces of gold with proceeds of approximately $750,000.

Based on the significant amount of gold recovered during the initial investigation, a second and more comprehensive phase of the Gold Recovery Program was initiated in early 2024 with a focus on the ball mills and the semi-autogenous grinding mills.

"Less than a year after acquiring the Madsen Mine, we are already seeing real value being uncovered from this asset," Shane Williams, president and CEO, said in a statement. "Our immediate focus has been recovering gold throughout the Madsen processing plant with our second cleanup program nearing completion. With gold prices over US$2,300/oz, this material could be a potential one-off source of cash flow during 2024."

It is anticipated that the company may recover at least 2,500 oz Au from the clean up.