For thousands of other reports visit RSC's Mineral Intellingence Map
Pure Gold Mining Inc.
Summary
| Project: | Madsen | |
|---|---|---|
| Deposit: | Wedge | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/1/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-10-2019: Pure Gold Mining Inc. announces an Exploration/Drilling Update report for its Wedge deposit at the Madsen project. Drilling results incl. 5.4m @ 7.0g/t Au from 172.0m. VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V, PUR – LSE) (“Pure Gold | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Phil Smerchanski (Internal) | |
| ABSTRACT: | VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V, PUR – LSE) (“Pure Gold” or the “Company”), is pleased to announce that ongoing drilling along the Madsen Red Lake Mine Trend has added 530 metres of mineralized strike length to the Wedge Zone, expanding the deposit footprint by 85% and continuing the rapid progression of this zone. In early 2018, the Company announced the discovery of the Wedge deposit with multiple high grade intercepts reported three kilometres south of the Madsen Red Lake Mine. In early 2019, incorporating just nine months of drilling, Pure Gold reported the maiden resource estimate for this new discovery. Such quick advancement from discovery to resource, and today’s near doubling of the mineralized strike length of the zone, provides a compelling example of the strong growth potential of the area and the potential to impact future plans at the Madsen Red Lake Mine. “From day one our mandate has been discovery, delineation and resource conversion to give investors a full and current picture of the value that underpins Pure Gold and our platform for growth,” stated Darin Labrenz, President and CEO of Pure Gold. “At a gold price of US$1500, and without consideration of new mineral resources at Fork, Wedge or Russet South, our project has a current after-tax net present value of C$390 million and internal rate of return of 51%.1 In a dynamic project like Madsen Red Lake, this is only part of the picture. Today’s results showcase the tremendous potential of the Madsen mineral system to continue to grow, by nearly doubling the strike length of Wedge and by extending the gold structural corridor that controls the Madsen orebody to seven kilometres. Importantly, these results continue to support our record of discovery to mineral resource in a phased approach to bring a brand new, fully funded mine to life.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report