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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Austin | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/31/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-10-2016: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Austin deposit at the Madsen project. Drilling results incl. 8.0m @ 25.4g/t Au from 467.7m. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” or the | |
| Resources: | (Resource): 3.24Mt @ 8.93g/t Au (Ind.) and 0.79Mt @ 11.74g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Phil Smerchanski (Internal) | |
| ABSTRACT: | VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” or the “Company”) is pleased to announce additional drill results from the ongoing 77,000 metre drill program at the Company’s 100% owned Madsen Gold Project (“Madsen”). Results reported herein include the first two drill holes from A3, a new high grade gold target within the Austin horizon, located in close proximity to existing infrastructure. “This new discovery continues to highlight the significant exploration upside at Madsen” stated Darin Labrenz, President and CEO of Pure Gold. “These are the first modern drill holes in what was previously an unrecognized target area of the Austin Horizon, located more than 100 metres from historic stopes. The fact that these initial holes returned such impressive results is a testament to the scale of the large mineralized system at Madsen and highlights the opportunity for near-term resource growth.” A3 – New Target Identified at Madsen This new target lies beyond the southern limits of the historic mining in the Austin horizon and is interpreted to be another sub-parallel gold bearing structure that is open in all directions. Drill hole PG16-229, characterized by strong silicification and abundant visible gold, anchors the A3 at a vertical depth of 400 metres. Limited historic drilling that intersected what is now understood to be the A3 target includes 68.0 g/t gold over 3.1 metres from hole 7-13000 at a vertical depth of 330 metres and 18.3 g/t gold over 10.0 metres from hole 11-14125-NU at a vertical depth of 500 metres(1) . The A3 discovery, a direct result of the application of modern geoscience on a data-rich project, has strong potential for mineralization over a one-kilometre dip extent. New geologic mapping of the surface expression along with current and historic drilling support this target model. | |
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