12:04:45 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Pure Gold Mining Inc
Symbol PGM
Shares Issued 384,935,947
Close 2020-07-27 C$ 2.25
Market Cap C$ 866,105,881
Recent Sedar Documents

Pure Gold drills 10 m of 12.8 g/t Au at Pure Gold

2020-07-28 07:01 ET - News Release

Mr. Darin Labrenz reports

UNDERGROUND DRILLING AT PUREGOLD RED LAKE MINE INTERSECTS 12.8 G/T GOLD OVER 10.0 METRES

Pure Gold Mining Inc.'s underground exploration drilling has intersected high-grade gold mineralization from stepout drill holes drilled close to existing underground development. Drilling has extended gold mineralization out from current design stopes, has discovered new gold zones that will be integrated into mine planning and has confirmed stopes scheduled for near-term production.

Drilling results highlights:

  • 12.8 grams per tonne gold over 10.0 metres from drill hole PGU-0136, including:
    • 20.1 g/t gold over 5.0 metres;
  • 9.3 g/t gold over 2.4 metres from drill hole PGU-0123, including:
    • 16.2 g/t gold over 1.1 metres;
  • 10.6 g/t gold over 2.0 metres from drill hole PGU-0124.

"These latest high-grade gold intercepts continue to reinforce our near-term growth plan for the Pure Gold Red Lake mine and to exhibit the tremendous strength, continuity and scalability of this high-grade gold system," stated Darin Labrenz, president and chief executive officer of Pure Gold. "Underground exploration drilling continues to extend stopes that are part of our near-term mine plan, and to discover brand new gold zones, which could have a direct net positive impact on our production profile, and because of their proximity to existing development a potential impact to near-term cash flow at our mine. In this case we have more than doubled the strike length of a planned stope, further demonstrating the dramatic transformative growth potential of our Pure Gold mine. We have only just begun a 30,000-metre exploration program, which will span across our seven-kilometre gold corridor, and already we're delivering on our objective of building a multigenerational mining complex in Red Lake, Canada."

Diamond drilling continues to identify extensions to design stopes, providing opportunity for additional high-grade tonnes from existing or planned development. Previous drilling in the MV1280-3815 stope area, including 46.7 g/t gold over 7.0 metres from drill hole PGU-0118, demonstrated potential for eastern and western extension of that stope. Drill holes PGU-0123 and PGU-0124 have further extended mineralization highlighting the opportunity for significant growth of this stope. Prior to underground drilling, the modelled stope had a strike length of 40 metres. Current drilling has shown the potential to extend the strike length of this stope to 100 metres.

Several diamond drill holes (PGU-0132 to PGU-0138) were also completed to test for potential extensions of stoping areas in the hangingwall of the 2018 test mining area.

New assay results from select drill holes are outlined in the associated table.

                   DRILL RESULTS SUMMARY

Hole ID            From           To       Length         Gold
                    (m)          (m)          (m)        (g/t)

PGU-0123           25.0         27.4          2.4          9.3
incl.              26.3         27.4          1.1         16.2
PGU-0124           34.6         35.6          1.0          8.1
PGU-0124           46.5         48.1          1.7          8.1
PGU-0124           57.0         57.7          0.7         11.1
PGU-0124           79.0         81.0          2.0         10.6
PGU-0135           39.0         41.0          2.0         11.7
PGU-0136            1.0         11.0         10.0         12.8
incl.               6.0         11.0          5.0         20.1
incl.               6.9          8.0          1.1         46.4
PGU-0140           14.0         17.0          3.0          6.9
incl.              16.0         17.0          1.0         13.1
PGU-0142          173.7        174.9          1.2         10.0

*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 Pure Gold Mining Inc.

The Pure Gold Red Lake mine is Canada's next gold mine. Fully financed, the project is on track to deliver near-term gold production into a rising Canadian gold price environment, with first production scheduled for late 2020. The orebody is situated within a seven-kilometre-long gold system that is wide open for expansion at depth and along strike, and multiple discoveries by the company suggest potential opportunities for near-term growth.

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 (atomic absorption spectroscopy) 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.

We seek Safe Harbor.

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