Pure Gold: Drilling uncovers 12.8 g/t gold at 10 metres
UNDERGROUND DRILLING AT PUREGOLD RED LAKE MINE INTERSECTS 12.8 G/T GOLD OVER 10.0 METRES
Successful step-out and confirmation drilling includes 20.1 g/t gold over 5.0 metres
VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM:TSX-V, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that underground exploration drilling has intersected high-grade gold mineralization from step-out 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.1
Drilling results highlights:
- 12.8 g/t 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;
A summary table of results is set out at the end of this News Release.
“These latest high-grade gold intercepts continue to reinforce our near-term growth plan for the PureGold Red Lake Mine and to exhibit the tremendous strength, continuity and scalability of this high-grade gold system.” stated Darin Labrenz, President and CEO of PureGold. “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 PureGold 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. 2 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 hanging wall of the 2018 test mining area.
Drill Results Summary
New assay results from select drill holes are outlined below:
For a set of recent images from underground, click link below:
For a complete list of 2020 drill results, click link below:
In the video below, we interviewed CEO Darin Labrenz about the Company growth plans and the gold market in general.
Pure Gold Inc Investor Relations