Building One Of The Highest Grade Mines In The World
Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) has intersected high-grade gold mineraliaation from both infill and step-out holes from underground exploration drilling at the Red Lake Gold Mine in Canada.
Drilling has extended gold mineralisation out from planned stopes and has discovered new gold zones that will be integrated into the mine plan, and has confirmed stopes scheduled for near term production.1
Drilling results highlights:
- 46.7 g/t gold over 7.0m; including 193.5 g/t gold over 1.0m;
- 57.0 g/t gold over 1.0m;
- 15.8 g/t gold over 2.3m; and
- 7.2 g/t gold over 5.0m; including 22.3 g/t gold over 1.0 metre.
“Over the last several years our team has developed a tremendous understanding of the PureGold mine deposit,” said Darin Labrenz, President and CEO of PureGold.
“We have established the scale of this gold system, with fantastic continuity along a seven kilometre trend, and we are building a mine that will be one of the highest grade mines in the world.
“Our 30,000 metre exploration programme is designed to firmly establish growth and scalability beyond our initial phase 1 mine plan.
“But even within the footprint of our phase 1 mine, the deposit continues to exceed our expectations with broad, high-grade intercepts that demonstrate opportunities for near term growth.
“New drill results demonstrate that extensions of existing stopes and possible expansions of the mine plan occur very close to existing or planned development and as such, have the potential to impact near term mine cash flow.”
Mr Labrenz said diamond drilling has identified both extensions to feasibility stopes, providing opportunity for additional high grade tonnes from existing or planned development, and new gold mineralization that may be incorporated into future short term mine plans.
For example, hole PGU-0117 intersected 15.8 g/t gold over 2.3 metres approximately 15 meters along strike from the planned MV1280-3815 stope providing potential for westward extension of that stope.
Meanwhile, hole PGU-0118 confirmed continuity and has extended the eastern margin of the MV1280-3815 stope by several metres, returning 46.7 g/t gold over 7.0 metres.
Hole PGU-0121 returned 57.0 g/t gold over 1.0 metre in a significant step out, 30 metres beyond the 3815 planned mining shape highlighting significant tonnage growth potential.
Mr Labrenz said this new mineralisation is a near term opportunity for growth of the mine plan and will be targeted by future drilling and sill development.
Drilling has also confirmed stope mineralisation, including drill hole PGU-0113 which intersected the planned MV1340 stope as an infill hole and returned a broad five metre zone of gold mineralization, widening the planned stope in this location. Exploration drilling is expected to continue into 2021, with over 30,000 metres of drilling planned through early 2021. The goal of the 2020 exploration programme is to expedite the growth of our mineral resources and aggressively expand new high-grade discoveries.
