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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Madsen | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/5/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-7-2019: Pure Gold Mining Inc. announces a Feasibility Study report for its Madsen deposit at the Madsen project. Amended Feasibility Study Technical Report. This report summarizes the results of the Feasibility Study (FS) completed by JDS Energy & Minin | |
| Resources: | (Reserve, Prob.): 3.512Mt @ 9.0g/t Au for 1.013Moz Au contained | |
| CP/QP: | [Overall Report]: Michael Makarenko (JDS Energy & Mining Inc.) | |
| ABSTRACT: | This report summarizes the results of the Feasibility Study (FS) completed by JDS Energy & Mining Inc. (JDS) as commissioned by Pure Gold Mining Inc. (Pure Gold or the ‘Company’) for the Madsen Gold Project (the Project or Madsen) and was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 and Form 43-101F1, collectively referred to as National Instrument (NI) 43-101. The Madsen Gold Project is a precious metals resource project located in the Red Lake district of Northwestern Ontario. Based on Probable Reserves, a subset of the Indicated Resource category, the Project will develop a mining and processing operation with mining from five zones near the Madsen Mine over a 12-year production period by way of an extension of the existing ramp and an overhauled shaft access underground mine, an expanded and refurbished cyanidation gold extraction processing facility capable of processing ore at an average rate of 800 tonnes per day (t/d), a cyanide destruction circuit, an upgraded tailings management facility, a water treatment plant and related infrastructure. The Madsen Gold Project, which is 100% owned by Pure Gold Mining Inc. is centered around the historical Madsen Mine, which produced 2.5 million ounces at an average grade of 9.7 g/t gold (7.9 million tonnes) between 1938 and 1976 and again from 1997 to 1999. The Madsen Gold Mine has been in temporary suspension and advanced exploration since operations ceased in 1999. The Madsen Gold Project comprises a contiguous group of 251 mining leases, mining patents and unpatented mining claims covering an aggregate area of 4,648 hectares (46.5 km2 ). Infrastructure includes paved highway and secondary road access, a mill and tailings facility and access to power and water. The Project is located in the Red Lake district of Northwestern Ontario, approximately 440 km northwest of Thunder Bay, Ontario, 260 km east-northeast of Winnipeg, Manitoba and 10 km south-southwest via provincial highway ON-618 S from the town of Red Lake. The Project is adjacent to the community of Madsen at approximately 93.91 degrees longitude west and 50.97 degrees latitude north. Access to the Project site is via the Mine Road off ON-168 S and access to Red Lake is via ON-105 N from the TransCanada Highway / ON-17 and via commercial airline flying into the Red Lake Municipal Airport. | |
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