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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Madsen | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Madsen deposit at the Madsen project. Drilling results incl. 1.5m @ 101.6g/t Au from 14.3m. VANCOUVER, British Columbia, Sept. 25, 2018 -- Pure Gold Mining Inc. (PGM | |
| Resources: | (Resource): 6.2Mt @ 8.7g/t Au (Ind.) and 1.2Mt @ 7.9g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Phil Smerchanski (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Sept. 25, 2018 -- Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” or the “Company”) is pleased to provide an update on ongoing underground test mining, where results continue to exceed expectations with an average grade of 9.2 g/t gold returned from 1,084 muck samples collected to date. The average grade of 9.2 g/t gold is a diluted mined grade, which comprises all muck samples from 46 rounds of freshly blasted rock, each of which averaged above a cut-off of 4.0 g/t gold. The Company has completed 100 metres of lateral development in the two stopes targeted for bulk sampling, representing approximately 3,100 tonnes of material above a 4.0 g/t gold cut-off. The average realized mining width of stope material has been 3.8 metres with excellent geotechnical rock conditions. Importantly, underground development continues to support Pure Gold’s geologic model, match or exceed predicted grades and widths, and highlight the strong visual nature of mineralization. As mining advances through each blasted round the drift walls are tested with a core drill, and this has been highly effective in identifying parallel gold structures that lie outside of the resource but in close proximity to new development. These parallel zones provide an exciting opportunity to mine additional gold-bearing rock at a lower cost in areas where pre-development is substantially completed. Darin Labrenz, President and CEO of Pure Gold commented, “Over the last 18 months we have aggressively advanced Madsen along the development path. Concurrently, we have turned exploration success into an expanded mineral resource and demonstrated clear project growth and scalability through our new geologic framework for the Madsen mineral system. We have installed new services to the underground, deepened the Madsen Ramp to provide access to early stage stopes, and are wrapping up a definitive feasibility study. Today we are mining high grade gold mineralization as a bulk sample and drilling continues to identify new opportunities for growth. We look forward to the fourth quarter as we complete several important milestones with the goal of building a modern, scalable mining operation at Madsen.” | |
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