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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Madsen | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/11/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-1-2017: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Madsen deposit at the Madsen project. Drilling results incl. 1.8m @ 8.0g/t Au from 82.2m at McVeigh. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold | |
| 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 the launch of its 2017 exploration program at the Company’s 100% owned Madsen Gold Project (“Madsen”). The phased exploration program is designed to focus on resource growth and concurrently advance Madsen towards operational readiness. Drilling has re-commenced on the project with four diamond drill rigs prioritized for the McVeigh, Austin and A3 targets of the Madsen Mine. In addition, Pure Gold has now received the necessary approvals to re-open the McVeigh Portal (“Portal”) and ramp and mining contractors have been mobilized to site to commence site preparations. With receipt of final assays, Pure Gold has completed its 2016 exploration work program, successfully intersecting gold mineralization in multiple, related targets with the drilling of approximately 78,800 metres from a total of 237 drill holes. The 2016 exploration program led to a breakthrough in geologic understanding, genetically and spatially linking mineralization in multiple settings and demonstrating that intersected gold mineralization remains open for expansion. At Madsen, drilling traced near surface gold mineralization across a 1.2 kilometre strike length, with mineralization remaining open for expansion. Concurrent drilling of the Austin horizon has led to a better understanding of the controls of high grade mineralization resulting in the development of the A3 target, an Austin-parallel gold bearing structure. Mineralization at Madsen is hosted preferentially in the McVeigh and Austin horizon, and these preferred host rocks have been traced over two kilometres southward to the past-producing Starratt Olsen mine where initial drilling has returned high grade gold mineralization in a setting that is directly related to mineralization encountered at Madsen. Together with drilling at the McVeigh, Austin, and A3 targets of Madsen, these holes define a five kilometre mineralized horizon that is now well-understood and prospective for additional discovery and resource expansion. | |
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