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Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Starratt | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/3/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-10-2016: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Starratt deposit at the Madsen project. Drilling results incl. 11.0m @ 34.0 g/t Au from 559.0m. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” or | |
| 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 results from drilling completed at Starratt, a regional target at the Company’s 100% owned Madsen Gold Project (“Madsen”). Results reported herein are part of the ongoing 77,000 metre Madsen drill program, and represent the first four drill holes at Starratt, a Madsen-style exploration target associated with the historic Starratt Olsen Mine, located 2.2 kilometres south of the Madsen No. 2 Shaft. Four drill rigs are currently active on site, with three rigs testing the McVeigh horizon and one testing satellite targets. Exploration by Pure Gold has defined the setting of mineralization at Madsen, demonstrating that the McVeigh is a footwall continuation of the Austin horizon, is open in all directions, and remains largely untested. Ongoing surface exploration has traced the Austin-McVeigh horizon several kilometres to the south, where a similar setting is present at the historic Starratt-Olsen mine. Results to date suggest that the style of mineralization, alteration, and host rock bear a strong similarity with the Austin and McVeigh horizons(1) . “We are very excited by these results which support a geologic relationship between the Starratt target and Madsen Mine’s Austin and McVeigh horizons,” stated Darin Labrenz, President and CEO of Pure Gold. “Starratt was a sizable historic mine, and our initial efforts suggest it is a robust target that could potentially support expansion of the production profile at Madsen. The first results from Starratt confirm that it is open down plunge and along strike, and, importantly point to the scale of the mineralized system present at Madsen highlighting the significant upside potential of Pure Gold’s large land package.” | |
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