Mr. Darin Labrenz reports
PURE GOLD CONTINUES TO EXPAND WEDGE DEPOSIT
Pure Gold Mining Inc.'s surface drilling at the Madsen gold project continues to expand gold mineralization in the Wedge deposit, reinforcing the importance of Wedge as a key component of the large high-grade mineral system in place at Madsen. Surface drilling of Wedge has intersected strongly mineralized zones to a vertical depth of 500 metres and across 1,100 metres of strike length clearly establishing continuity of gold mineralization in several key areas that remain open for expansion. Importantly, this mineralization forms part of a series of genetically and geometrically related high-grade zones that span a five-kilometre structural corridor from Madsen to Wedge, with expansive gaps along strike and down plunge that remain highly prospective for additional resource growth.
Drilling highlights:
- Stepout drilling on the Wedge-MJ zone has materially expanded this zone, with gold mineralization now intersected over a 300-metre dip extent. Drilling highlights include:
- 32.9 grams per tonne gold over 1.7 metres from drill hole PG18-600;
- 14.5 g/t gold over 1.5 metres from drill hole PG18-599;
- 12.7 g/t gold over 1.7 metres from drill hole PG18-603;
- 11.8 g/t gold over 2.3 metres from drill hole PG18-602.
- Drilling continues to expand the scale of the Wedge-DV zone into previously untested areas including:
- 12.4 g/t gold over 3.0 metres, including 32.7 g/t gold over 1.0 metre from drill hole PG18-620;
- 10.1 g/t gold over 1.0 metre from drill hole PG18-591;
- 7.6 g/t gold over 2.0 metres from drill hole PG18-584.
- Drilling has also expanded the Wedge-CK zone to depth, highlighted by:
- 23.1 g/t gold over 2.0 metres including 33.4 g/t gold over 1.0 metre from drill hole PG18-616.
"Since the initial drilling of the Wedge area in late 2017, our geologic team has aggressively targeted the potential for resource growth resulting in the successful discovery of multiple zones of high-grade gold mineralization," said Darin Labrenz, president and chief executive officer of Pure Gold. "With gold mineralization now drill intersected over a kilometre of strike length and to a depth of 500 metres, open in all directions, we believe there is strong potential for continued growth of these zones. Key to this, is the recognition that Wedge forms part of a larger, related and connected mineral system that includes two significant mines and multiple zones of high-grade gold mineralization. Application of this new understanding on a consolidated land position that encompasses a common five-kilometre-long mineral system is key to our goal of building a modern, scalable long-life mining operation at Madsen."
Wedge-MJ continues to grow
The Wedge deposit area, located approximately three kilometres by road south of the Madsen milling infrastructure, forms a southward extension of the same mineral system that hosts the Madsen and Fork deposits defining a key mineralized structural corridor that extends over a five-kilometre strike length. The westernmost of Wedge's mineralized zones (Wedge-MJ) is interpreted as an analogue of known deposits on the same geological contact, including the 8 zone and Russet South deposits. Previous drilling by Pure Gold has established two mineralized shoots within the MJ domain, with drill highlights of 12.1 g/t gold over 2.0 metres from drill hole PG17-474 and 17.1 g/t gold over 1.7 metres from drill hole PG18-533. New drilling by the company has substantially increased the scale of the MJ mineralized zone, expanding the footprint of this zone to over 600 metres in strike length with gold mineralization intersected over a 350-metre dip extent. Results reported herein include the deepest drilling by the company at MJ to date, with highlights of 32.9 g/t gold over 1.7 metres from drill hole PG18-600, and 7.2 g/t gold over 4.4 metres, including 21.9 g/t gold over 1.0 metre from drill hole PG18-602 separated by 60 metres laterally at a vertical depth of approximately 350 metres. Stepout drilling to the north and south has also expanded the two mineralized shoots along strike, with both remaining open for expansion in all directions.
Scale of wedge mineralization expands with stepout drilling
Recent mapping of the Wedge area has clearly established a robust vein system at surface while previous drilling has demonstrated a well-defined south plunge to mineralization and established continuity from surface to a depth of 500 metres. Results reported herein have successfully targeted large gaps in the Wedge system, with substantial stepouts into untested areas. Drill hole PG18-620 returned 12.4 g/t gold over 3.0 metres including 32.7 g/t gold over 1.0 metre, filling a 200-metre gap between previously reported hole PG18-540 (354 g/t gold over 1.0 metre) and PG18-564 (18.3 g/t gold over 1.0 metre and 19.9 g/t gold over 3.3 metres). Stepout drilling on the south end of the Wedge has expanded known mineralization and remains open with drill hole PG18-616 returning 23.1 g/t gold over 2.0 metres including 33.4 g/t gold over 1.0 metre at a depth of approximately 110 metres. Additionally, drill holes PG18-584, PG18-591 and PG18-595 all successfully intersected shallow gold mineralization in a previously untested gap between the CK and DV zones.
2018 exploration drilling and resource estimate
In late May, the company announced an additional 21,000 metres of exploration drilling with the goal of demonstrating expansion and project scalability opportunities at Madsen. To date, the company has completed approximately 10,000 metres of the expanded drill program. Drilling is expected to run through the fourth quarter. Drill results from the Wedge, Russet South and Fork deposits will be incorporated into an updated resource estimate, on track for the fourth quarter of 2018.
NEW ASSAY RESULTS FROM SELECT DRILL HOLES
Hole ID From To Length Gold
(m) (m) (m) (g/t)
PG18-584 65.0 67.0 2.0 7.6
73.0 75.0 2.0 5.4
PG18-585 234.6 236.0 1.4 7.6
PG18-591 63.9 64.9 1.0 10.1
PG18-595 97.3 99.5 2.2 5.6
PG18-599 257.2 258.7 1.5 14.5
277.9 282.2 4.3 3.5
incl. 281.2 282.2 1.0 7.4
PG18-600 400.0 401.7 1.7 32.9
409.6 414.7 5.2 3.1
PG18-602 443.0 447.4 4.4 7.2
incl. 443.0 445.3 2.3 11.8
incl. 443.0 444.0 1.0 21.9
PG18-603 271.3 273.0 1.7 12.7
PG18-605 118.3 119.4 1.1 5.7
PG18-616 133.0 135.0 2.0 23.1
incl. 133.0 134.0 1.0 33.4
PG18-620 268.0 274.9 6.9 6.3
incl. 271.9 274.9 3.0 12.4
incl. 271.9 272.9 1.0 32.7
331.9 332.9 1.0 7.7
* Assay composites were calculated using uncut assays and true
widths are interpreted to vary from 70 to 90 per cent (80 per cent,
on average) of reported core lengths.
About Madsen
The Madsen gold project has historic production of 2.5 million ounces of gold and a current indicated resource of 1,744,000 ounces gold at 8.7 g/t gold (in 6.2 million tonnes) and an inferred resource of 296,000 ounces gold at 7.9 g/t gold (in 1.2 million tonnes), the project benefits from existing infrastructure including a mill and tailings facility, paved highway access, and access to power, water and experienced labour (1). A feasibility study is under way with results expected in the fourth quarter of 2018 and the Madsen gold project is firmly on the path to becoming Ontario's next gold mine.
See news release dated Jan. 31, 2018, and June 18, 2018
See the National Instrument 43-101 technical report entitled "Technical Report for the Madsen Gold Project -- Restated Preliminary Economic Assessment and Initial Satellite Deposit Mineral Resource Estimates," with an effective date of Dec. 14, 2017, for complete details, available on the company's website or SEDAR profile.
Quality assurance/quality control and core sampling protocols
Drill core samples are submitted to ALS Minerals in Thunder Bay, Ont., for sample preparation by crushing to 70 per cent less than two millimetres, a rotary split of one kilogram and pulverization of the split to better than 85 per cent passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C., for gold analysis with a 30 g fire assay and AAS finish (code Au-AA23). Samples returning greater than five g/t Au are reassayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold and shoulder samples are also analyzed by a one kg screen fire assay with screening to 100 microns. A duplicate 30 g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (certified standards and uncertified blanks), along with field, prep and pulp duplicates, are inserted on a regular basis. Results are assessed for accuracy, precision and contamination on a continuing basis.
Qualified persons and National Instrument 43-101 disclosure
Phil Smerchanski, PGeo, vice-president, exploration, for the company, is the designated qualified person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About Pure Gold Mining Inc.
The company's mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the next major discovery at the Madsen gold project in Red Lake, Ont.
We seek Safe Harbor.
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