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Pure Gold Mining says ongoing surface exploration drilling continues to establish greater continuity and expansion of gold mineralization

In addition, underground mine stope delineation drilling has intersected bonanza grades in areas targeted for first ore delivery and gold production from the mine

Pure Gold miner
Pure Gold said these latest drill holes confirm the exceptional grades of the gold mineralization in the Wedge resource area

Pure Gold Mining Inc. (CVE:PGM) (LON:PUR) said that ongoing surface exploration drilling near the PureGold Mine continues to establish greater continuity and expansion of gold mineralization with high-grade results returned from multiple drill holes targeting both resource upgrades and resource expansion outside the current mineral reserves.

In addition, underground mine stope delineation drilling has intersected bonanza grades in areas targeted for first ore delivery and gold production from the mine.  

The group said these latest drill holes confirm the exceptional grades of the gold mineralization in the Wedge resource area, support continuity of high-grade gold mineralization across the entire seven-kilometre long gold system, and confirm high-grade gold in mine stopes scheduled for early production.

READ: Pure Gold Mining on track to deliver first ore for processing before year-end at Red Lake

Pure Gold said its underground drilling continues to be extremely successful in delivering on its objective of discovering new gold mineralization, extending mineralization out from planned stopes and confirming stopes planned for near-term production. New grade control drilling has highlighted the potential for bonanza grades in stopes planned for near term production, it added.

Highlights of drilling from underground include:  

  • 296.1 grams per ton (g/t) gold over 4.9 metres from test hole PGL-0003, including 1,147.1 g/t gold over 1.2 metres;
  • 40.0 g /t gold over 2.2 metres from drill hole PGB-0170, including 94.1 g/t over 0.9 metres;
  • 18.7 g/t gold over 2.8 metres from drill hole PGB-0165, including 65.4 g/t over 0.7 metres;
  • 11.1 g/t gold over 6.7 metres from drill hole PGB-0178.

Additionally, Pure Gold said, new surface drilling results at Wedge highlight the strong continuity of the high-grade gold mineralization, both down plunge and along strike, reinforcing the Wedge as a high priority for resource growth.

Highlights of surface drilling from Wedge:

  • 66.3 g /t gold over 1.0 metre from drill hole PG20-769;
  • 24.3 g/t gold over 1.0 metre from drill hole PG20-775;
  •  20.5 g/t gold over 1.0 metre from drill hole PG20-766;
  • 16.6 g/t gold over 1.5 metres from drill hole PG20-767;
  • 11.4 g/t gold over 2.0 metres from drill hole PG20-773.

Two surface rigs are expected to continue exploration and expansion drilling into 2021, Pure Gold said, with well over 30,000 meters planned, and underground drilling is expected to continue over the life of the mine.

"Over the last several months our exploration team has been intently working to achieve our objective of growing resources at our high-grade discoveries, as well as infill and expansion of stopes that form part of our near-term mine plan," Darin Labrenz, president and CEO of Pure Gold said in a statement.

"Today's exploration results continue our success at Wedge where we are pushing well beyond the boundaries of our phase I mine plan, demonstrating the high-grade nature and growth potential of our large gold system.1 Deep pierce points along the entire seven-kilometre trend intersecting the same style of mineralization, geology, alteration and high-grade gold support the opportunity for growth and scalability of the project for the long term.  

"Along with high-grade results from underground, our exploration work continues to crystallize this opportunity, providing clear support for the opportunity to grow the PureGold Mine into an iconic Canadian producer in the heart of Red Lake," he added.   

The PureGold Mine, located in the heart of Red Lake, Ontario, is Canada's next gold mine, is fully funded and on track to deliver near term gold production into a rising Canadian gold price environment, with first gold pour scheduled for late 2020.

The orebody is situated within a seven-kilometre-long gold system that is wide open for expansion at depth and along strike, and multiple discoveries by the company suggest potential opportunities for near-term growth.

Contact the author at [email protected]

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Price: 2.25 CAD

TSX-V:PGM
Market: TSX-V
Market Cap: $886.71 m
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