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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Russet South | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/14/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-11-2016: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Russet South deposit at the Madsen project. Drilling results incl. 2.1m @ 76.0g/t Au from 102.9m. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” | |
| Resources: | (Resource): 3.236Mt @ 8.93g/t Au (Ind.) and 0.788Mt @ 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 results from drilling at the Russet South target located at the Company’s 100% owned Madsen Gold Project (“Madsen”). These holes are part of the ongoing 77,000 metre drill program designed to expand the high grade Austin and McVeigh gold resource and to test and build continuity of high grade gold mineralization at Russet South and other satellite targets. Three drill rigs are currently testing the McVeigh and Austin horizons and one rig is testing satellite targets. “These results demonstrate the near surface potential of the high grade gold system at Russet South,” stated Darin Labrenz, President and CEO of Pure Gold. “Our drilling to date has returned an exceptional hit ratio with nearly two thirds of the drill holes at Russet returning gold mineralized quartz veins. The mineral system at Russet South is related in setting and style to high grade mineralization at Madsen, and the continuity encountered highlights the potential to establish a near-surface resource within a short distance of the permitted mine infrastructure.” Drilling at the Madsen Gold Project has successfully identified and expanded the footprint of gold mineralization in five related zones, all of which are open for resource expansion. Mineralization located near surface at Russet South shares a similar geologic environment to Madsen’s 8 Zone resource, situated 1.6 kilometres down dip on the same geologic contact. Similarly, recent drilling at the Starratt target has returned alteration and gold mineralization that also suggests a direct relationship to mineralization present at Madsen, including the A3 target within the Austin horizon, and the south-plunging gold mineralization present at the McVeigh horizon. Together these targets define a five kilometre long gold system that is open for drill expansion. Currently,four drill rigs are active on the five kilometre trend, with three drill rigs prioritized on potential resource expansion of the Austin and McVeigh horizons and a fourth rig targeting gold mineralization at the Starratt target. | |
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