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Pure Gold Announces Additional Drill Results from McVeigh Horizon on Madsen Gold Project

Pure Gold Mining Inc. is pleased to announce additional drill results from the McVeigh horizon, located on the Company's 100% owned Madsen Gold Project.

Results reported herein represent the final set of results from the initial 16,000 metre program, which is now complete. As previously announced, the Company has begun an expanded exploration program that will include an additional 35,000 metres of drilling. The ongoing work is designed to test and advance new interpretations of near-surface targets in close proximity to the existing mining infrastructure.

"Drilling to date indicates that the McVeigh horizon is open for resource expansion along strike and at depth, below historical mining depths of 230 metres," stated Darin Labrenz, President and CEO of Pure Gold. "The opportunity for resource growth at relatively shallow depths is rare in a historic mining project such as this. We believe the McVeigh horizon has similar potential to the parallel Austin horizon which was mined from surface to a depth of 1,200 metres over a two kilometre strike length."

Highlights from infill and step-out drilling on the one kilometre long McVeigh horizon include:

  • 40.1 g/t gold over 1.2 metres in hole PG16-110
  • 31.3 g/t gold over 3.7 metres in hole PG16-112
    • Including 54.1 g/t gold over 2.0 metres
  • 14.2 g/t gold over 5.0 metres in hole PG16-122
    • Including 28.5 g/t gold over 2.1 metres

New assay results from select drill holes testing the McVeigh horizon are outlined below:

Hole ID From
PG16-108 172.0 180.2 8.2 6.0 Austin
incl. 174.0 178.0 4.0 10.5
PG16-110 291.5 292.7 1.2 40.1 McVeigh
PG16-111 202.7 204.7 2.0 5.2 McVeigh
PG16-112 281.3 285.0 3.7 31.3 McVeigh
incl. 281.3 283.3 2.0 54.1
PG16-115 166.7 168.7 2.0 7.5 Austin
PG16-117 275.7 278.9 3.2 5.7 McVeigh
PG16-117 289.0 291.5 2.5 8.5 McVeigh
incl. 290.5 291.5 1.0 20.1
PG16-117 320.0 322.0 2.0 11.5 McVeigh
PG16-119 123.1 130.0 6.9 4.4 McVeigh
incl. 124.0 127.2 3.2 7.1
PG16-121 140.5 146.3 5.8 5.7 McVeigh
incl. 142.0 144.8 2.8 10.2
PG16-122 8.3 9.3 1.0 30.1 Austin
PG16-122 128.5 133.5 5.0 14.2 McVeigh
incl. 130.6 132.8 2.1 28.5
*Assay composites were calculated using uncut assays and are reported as drilled widths and interpreted to vary between 55% to 90% of true widths.

The current targeting strategy is focused on extending known and discovering new shoots of gold mineralization within the McVeigh horizon along a one kilometre corridor. The results of our drilling confirm that the McVeigh horizon is a fold continuation of the Austin horizon with the mineralization 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 from surface to a depth of 1,200 metres.

Pure Gold has initiated an expansion of the 2016 exploration program, including an additional 30,000 metres of drilling targeting down plunge extensions of gold mineralization below the historical mine workings in the McVeigh Horizon and 5000 metres on satellite target zones. The Company is further accelerating this program with the addition of a third drill rig. Results from the program will continue to be released as available.

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:


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