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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Austin, McVeigh | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/6/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-9-2016: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Austin, McVeigh deposit at the Madsen project. Drilling results incl. 4.0m @ 50.2g/t Au from 171.0m at McVeigh. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) ( | |
| 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 51,000 metre drill program at the Company’s 100% owned Madsen Gold Project (“Madsen”). Results reported herein are from the four drill rig exploration program, designed to expand the high grade gold resource in close proximity to the existing permitted infrastructure. “We are aggressively drilling to add to the existing resource of 928,000 ounces Indicated (3.24 million tonnes at 8.93 g/t gold) and 297,000 ounces Inferred (0.79 million tonnes at 11.74 g/t gold), which currently represents one of the highest grade undeveloped gold resources of scale in Canada,” said Darin Labrenz, President and CEO of Pure Gold. “Importantly we are adding confidence and continuity to underground, ramp accessible gold which has the potential to expand on the mine plan outlined in our recently completed PEA1 . The McVeigh horizon is open in all directions, with three drill rigs systematically stepping along strike and down dip to delineate the size potential. We now have intercepts into the McVeigh horizon from surface down to 370 vertical metres, with the zone demonstrating positive down plunge continuity. Drilling to date has outlined significant growth potential at Madsen, with the opportunity to add to an already well-endowed mine complex.” | |
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