Pure Gold Mining Inc. ("Pure Gold" or the "Company") is pleased to announce additional results from drilling at the McVeigh horizon located on the Company's 100% owned Madsen Gold Project ("Madsen"). Results herein are part of the ongoing drill program designed to test and advance new interpretations of near-surface high grade targets, in close proximity to the existing mining infrastructure.
"Our ongoing drill program has intersected shallow gold mineralization along a one kilometre strike extent of the McVeigh horizon and to a depth of 300 metres, highlighting the strong potential for resource growth," said Darin Labrenz, President and CEO of Pure Gold. "While historic mining at Madsen was conducted from surface to a depth of 1,200 metres on the Austin Horizon, historic mining on the McVeigh horizon was generally limited to 100 metres below surface, with a maximum mining depth of 230 metres. Mineralization within the McVeigh remains open at depth and further drilling is focused on testing the downward plunge of these high grade shoots."
Highlights from infill and step-out drilling on the one km-long McVeigh horizon include:
- 20.6 g/t gold over 2.0 metres in hole PG16-075
- 10.9 g/t gold over 9.8 metres in hole PG16-093
- Including 27.0 g/t gold over 3.8 metres
New assay results from select drill holes testing the McVeigh horizon are outlined below:
*Assay composites were calculated using uncut assays and are reported as drilled widths and interpreted to vary between 55% to 90% of true widths.
Drilling to date has targeted the extensions of gold mineralization within the McVeigh horizon along a one kilometre long corridor to a maximum depth of 300 metres where it remains open for expansion. The results of our drilling confirm that the McVeigh is a fold continuation of the Austin horizon with the mineralized shoots of the McVeigh horizon sharing the same characteristics and similar widths and grades as the parallel Austin horizon which produced over two million ounces of gold. While mineralization within the Austin plunges steeply to the northeast, drilling supports an interpreted south plunge within the McVeigh.
Approximately 3,800 additional metres of diamond drilling has been completed in 17 drill holes at Madsen targeting down plunge extensions of gold mineralization below the historical mine workings in the McVeigh Horizon, with further results pending.
For a plan map showing the location of the McVeigh horizon relative to key infrastructure, please click here:
For a long section showing the McVeigh horizon drill results, please click here:
For a complete list of 2016 drill results to date, please click here:
The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t Au (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t Au (in 0.79 million tonnes)1. The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of continuity of mineralization.
In addition to the mineral resource, the Madsen Gold Project hosts a number of highly prospective new discoveries including the Fork Zone and Russet South targets. Pure Gold believes the opportunity exists to advance these near-surface, high grade exploration targets through the application of modern exploration science and a new understanding of the district.
(1) See the National Instrument 43-101 technical report entitled "Technical Report for the Madsen Gold Project Red Lake, Ontario, Canada," prepared by SRK Consulting (Canada) Inc. dated effective February 18, 2014. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
QA/QC and Core Sampling Protocols
Drill core samples are submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, a rotary split of 1kg, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30g fire assay and AAS finish (code Au-AA23). Samples returning >5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a 1kg screen fire assay with screening to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. Results are assessed for precision on an ongoing basis.
Qualified Persons and 43-101 Disclosure
Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.