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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Russet South, Fork Satellite | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-12-2017: Pure Gold Mining Inc. announces a Resource Estimation report for its Russet South, Fork Satellite deposit at the Madsen project. Mineral Resource update with additions from Russet South and Fork satellite deposits. VANCOUVER, British Columbia, | |
| Resources: | ||
| CP/QP: | [Resources]: Marc Jutras, Christopher Lee (Ginto Consulting Inc.;Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Dec. 14, 2017 -- Pure Gold Mining Inc. (TSX-V:PGM) (“Pure Gold” or the “Company”) is pleased to announce the addition of mineral resources from two satellite deposits at its 100% owned Madsen Gold Project (“Madsen”) in the Red Lake mining district in northwestern Ontario. This estimate, which includes mineral resources from the Russet South and Fork deposits, adds 96,000 ounces of indicated resources and an additional 118,000 ounces of inferred resources to the Madsen Gold Project. Both deposits outcrop at surface and are situated approximately 1.5 kilometres from the existing milling infrastructure, and both remain open for expansion, highlighting the organic growth opportunity at Madsen. The mineral estimate was prepared by Ginto Consulting Inc. of Vancouver, Canada (“Ginto”) and is dated December 14, 2017. “The discovery of high-quality, near surface mineral resources with strong potential to positively impact project economics is an important component of our strategy at Madsen,” said Darin Labrenz, President and CEO of Pure Gold. “Our exploration to date has been highly successful in outlining the exceptional growth opportunity demonstrated by the significant expansion of the Madsen mine resource, previously disclosed, and the current addition of initial satellite resources. With both Russet South and Fork deposits hosting near surface mineral resources within 1.5 kilometres of our existing milling infrastructure, we can begin to consider a scenario where supplementary mill feed from satellite deposits adds flexibility and an opportunity to boost the production profile.” | |
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