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Pure Gold has added its Madsen asset in Red Lake, Ontario, to a growing list of potentially profitable gold projects as positive currency effects and a rising yellow metal price continue to act as a headwind for Canadian explorers.
Existing infrastructure at Madsen means it has a low capital intensity to build
The preliminary economic assessment on Madsen, conducted using a US$1,175 per ounce gold price and an exchange rate of US$0.80 to C$1, shows a mine producing 47,191oz of gold over a 6.
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