Pure Gold Mining Inc. is pleased to announce a significant expansion to its 2016 exploration program, including an additional 35,000 metres of diamond drilling at the Company's 100% owned Madsen Gold Project.
The expansion will increase the total drilling planned for 2016 to approximately 51,000 metres.
“Given our continued success, I am excited to announce the continuation of drilling at Madsen along with an increased exploration program,” stated Darin Labrenz, President and CEO of Pure Gold. “Drilling to-date has confirmed our exploration model and has intersected gold mineralization within the McVeigh horizon along a one kilometre long corridor to a depth of 300 metres where it remains open to depth. Our expanded and accelerated drill program will primarily focus on testing down plunge extensions to high grade gold mineralization within the McVeigh horizon where we believe there is strong potential to grow the resource and improve any possible future economics.”
The planned $9.1 million expansion of the 2016 Program will include:
- An additional 30,000 metre diamond drill program focused on the potential expansion of the McVeigh horizon. Two rigs are currently active at McVeigh and the Company is moving to accelerate this drilling through the mobilization of a third rig;
- Approximately 5,000 metres of drilling at Russet South and other satellite targets with a goal of expanding the near surface, high-grade mineralization discovered to date;
- Development of a plan to re-open the existing McVeigh portal and decline, allowing for inspection of the underground, as well as completion of detailed underground geological mapping and sampling to refine structural setting, characterize mineralization and aid in additional targeting at McVeigh, and;
- Continued surface geology mapping, soil and rock sampling, scientific review of historic data sets and multidisciplinary analysis and refinement of targeting.
The Madsen Mine produced 2.5 million ounces of gold from surface to a depth of 1,200 metres at a historic production rate of approximately 2,000 ounces of gold per vertical metre. Of this, the Austin horizon was the principal source of mine feed, with historic mining at the parallel McVeigh horizon limited to a maximum mining depth of 230 metres. The results of our drilling program to date in 2016 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. The expanded program will focus on the McVeigh horizon and potential resource expansion by testing the downward plunge of the high grade shoots below the historical mining. A limited portion of this expanded drill program will also be allocated towards near surface expansion of satellite targets, including the Russet South discovery which is located 1.5 kilometres from the McVeigh horizon.
Further results are pending from the on-going drill program and will be released as received.