EXPLORATION & DEVELOPMENT

More pure gold at Madsen

Pure Gold Mining (CN:PGM) has both expanded and confirmed gold mineralisation at its high grade underground Madsen project in Ontario, Canada.

Staff reporter
Pure Gold has used the existing infrastructure at Madsen wisely

Pure Gold has used the existing infrastructure at Madsen wisely

The company continues to show the advantages of having existing underground infrastructure in place, using the former-operating mine's ramp to carry out both infill and expansion drilling.

Highlights from the latest set of results include infill hits of 9.8m at 19.4g/t from 132.6m depth and 4m at 15.4g/t from 112m depth, plus expansion drill holes such as 6.8m at 13.7g/t from 107.9m depth and 6.6m at 9.1g/t from 145m depth.

All of these assays came from the McVeigh deposit, with the first two, in particular, targeting one of the first stopes set to be mined.

The company's plans over the coming months include carrying out a detailed project development schedule, resource definition drilling, exploration drilling, resource modelling of satellite deposits and further environmental baseline work.

The majority of this is likely to be captured in a feasibility study for release in 2018, which will build on the 2017 preliminary economic assessment. This study envisaged a low-cost operation able to produce more than 66,000 ounces per annum over a 14-year period.

It was based on a 1.65 million ounce indicated resource grading 8.9g/t.

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