Posted in | Gold | Mining Business

Pure Gold Mining Launches 2019 Exploration Program at Madsen Red Lake Gold Mine, Ontario

Canada-based exploration company, Pure Gold Mining Inc., has initiated the 2019 Exploration Program at its fully owned Madsen Red Lake Gold Mine located in Red Lake, Ontario.

The 2019 Exploration Program is a phased exploration project specifically designed to concentrate on Pure Gold Mining’s Fork, Wedge, and Russet South discoveries with the aim of changing and increasing the mineral resources that lay the groundwork for the newly concluded Preliminary Economic Assessment of these deposits. In the 2019 Exploration Program, around 12,000 m of diamond drilling will be included and this is anticipated to be mostly directed at Pure Gold Mining’s Wedge discovery and along strike extensions, with a reduced amount of intensive work at the Russet South and Fork deposits.

Drilling has already been re-initiated on the phased exploration project with the initial phase including a single diamond drill rig, the target of which is to upgrade the inferred resources present at the Wedge deposit, and also test along its strike and down plunge extensions.

Preliminary testing of the Fork EXT target is also part of the drilling plans. Situated down-plunge of the near-surface Fork deposit, the Fork EXT target hosts strongly altered, blue-grey quartz veins, and anomalous gold in restricted drill testing. This target is hosted along the upper contact of the Russet Lake Ultramafic unit in a target setting that is similar to the high grade 8 Zone of the Madsen deposit. In addition, the 2019 exploration program will resume surface work to prepare an additional 24 current high priority exploration targets throughout the Madsen Property for upcoming discovery drilling.

It is expected that the program will be over in December 2019, and the results will be released during the course of the activities.

Just over a year ago our team began to test the southern extents of our geological model of Madsen in the Wedge area. Our drilling resulted in the discovery of the Wedge deposit and since that time we have rapidly progressed our understanding of the scale and tenor of gold mineralization, resulting in the first time disclosure of mineral resources and a Preliminary Economic Assessment of those resources. The rapid progression of Wedge, and other near-surface discoveries, from discovery to engineering and economics is testament to the strength of our team’s geologic model, and the tremendous exploration upside evident at Madsen. With this new program our exploration team is focused on growth of the current resource and providing the framework for a second phase of development with the goal of not only extending, but potentially expanding the base case production scenario at Madsen.

Darin Labrenz, President and CEO, Pure Gold Mining Inc.

Earlier released drilling highlights from Fork, Wedge, and Russet South include:

Fork/Starratt:

  • 104.1 g/t gold over 3.0 m from drill hole PG16-198
  • 17.2 g/t gold over 3.5 m from drill hole PG17-467

Wedge:

  • 21.3 g/t gold over 10.3 m from drill hole PG17-486
  • 33.3 g/t gold over 8.3 m from drill hole PG17-467
  • 19.9 g/t gold over 3.3 m from drill hole PG18-564
  • 15.1 g/t gold over 5.4 m from drill hole PG16-215
  • 354.0 g/t gold over 1.0 m from drill hole PG18-540

Russet South:

  • 27.1 g/t gold over 5.8 m from drill hole PG17-364
  • 76.0 g/t gold over 2.1 m from drill hole PG16-233
  • 15.0 g/t gold over 5.0 m from drill hole PG15-028
  • 39.1 g/t gold over 2.9 m from drill hole PG15-031

About MADSEN

With a historical production of 2.6 million ounces of gold, an inferred resource of 296,000 ounces gold at 7.9 g/t gold (in 1.2 million tons), and a current indicated resource of 1,744,000 ounces gold at 8.7 g/t gold (in 6.2 million tons), the Madsen Red Lake Gold Mine gains from current infrastructure including a paved highway access, mill and tailings facility, and access to experienced labor, water, and power. For the Madsen Red Lake Gold Mine, the newly released feasibility study defines an 800 ton per day underground mining operation with a life-of-mine (LOM) of 12 years.

With a low initial capital cost of C$95 million (US$71 million) and Probable Reserves of 1 million ounces at 9 g/t Au in 3.5 million tons, the Madsen Red Lake Gold Mine is set to become the next iconic gold mine in Canada.

QA/QC and Core Sampling Protocols

ALS Minerals in Thunder Bay, Ontario has received drill core samples for a rotary split of 1 kg, sample preparation by crushing to 70% below 2 mm, and pulverization of the split to better than 85% passing 75 µm. Sample pulps are sent to the ALS assay laboratory located in North Vancouver, British Columbia, for gold analysis with a 30 g fire assay and AAS finish (code Au-AA23). In addition, samples that returned more than 5 g/t of gold are again assayed with a gravimetric finish (code GRA21). Mineralized zones with shoulder samples and visible gold are also examined by a 1 kg screen fire assay with screening to 100 µm. Furthermore, a duplicate 30 g fire assay is performed on the screen undersize, along with assaying the whole oversize fraction (code Au-SCR21). Together with prep, field, and pulp duplicates, control samples (certified standards and uncertified blanks), are inserted on a routine basis. Results are assessed for precision, accuracy, and contamination on a continuous basis.

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