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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Austin, McVeigh | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-8-2016: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Austin, McVeigh deposit at the Madsen project. Drilling results incl. 6.0m @ 21.7g/t Au from 77.0m at Austin horizon. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TS | |
| 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 ongoing three drill rig exploration program, designed to discover new resources and build continuity of high grade gold in close proximity to the existing permitted mining infrastructure. Drilling by Pure Gold has confirmed the presence of gold mineralization in multiple target settings within the footprint of the recently completed Preliminary Economic Assessment (PEA) 1 . Today’s reported results include high grade gold intercepts from within both unmined portions of the Austin horizon and the McVeigh horizon. With gold bearing intersections occurring outside of the mining shapes used to define potential production for the PEA, in both the Austin and McVeigh horizons, it is apparent that potential exists for positive improvements to the base case economics at shallow depths. Additionally, drilling by Pure Gold has demonstrated that the McVeigh horizon is open for expansion and extends well below shallow historic workings. The drill program is designed to test the potential for gold mineralization to depth within the McVeigh horizon, with drilling to date intersecting high grade gold to a depth of approximately 300 metres below surface. Pure Gold continues to step out beyond these intercepts, with drill rigs currently testing the McVeigh at a vertical depth of approximately 400 metres. In addition, drilling by previous operators supports the potential for deep mineralization within the McVeigh, with multiple intercepts of high grade gold intersected at a vertical depth in excess of one kilometre. | |
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