New single day record of 1,037 dry tonnes of ore processed
New single day record of 2,050 tonnes of ore brought to surface from underground
On track to step-up ore production rates to 1,000 tpd in Q4 2021
Pure Gold Mining Inc. (TSX-V:PGM) (LSE:PUR) is pleased to provide an update on recent production milestones achieved and upgrades completed in the month of August at the Company’s high-grade PureGold Mine in Red Lake, Ontario.
Highlights from the month of August include:
Major milestones anticipated for the remainder of 2021 include:
Darin Labrenz, President & CEO commented, “The PureGold Mine made significant strides in August toward our goal of consistently producing 1,000 tonnes per day of high-grade ore by the end of the year. By completing the installation of interstage screens on the CIP tanks and a trommel screen on the SAG mill, we have increased the processing capacity of the operation by at least 25% compared to the original design capacity of 800 tpd. The mine, now with two independent haulage ways at full-scale production, has also demonstrated its ability to produce well beyond 800 tpd. Given these significant improvements, we are targeting a step-up to 1,000 tpd in Q4 2021 and expect to average 850-950 tpd over the full fourth quarter.” He continued, “Importantly, we expect our total operating costs to remain relatively stable even as we step-up production to 1,000 tpd, which will drive unit costs downward over time. We also expect head grades will continue increasing steadily as we get deeper into the orebody over the coming quarters. Taken together, these factors are expected to drive an increase in gold production and a decrease in unit costs quarter-over-quarter through the end of this year and into 2022. These summer months have been a turning point operationally for the PureGold Mine and we look forward to delivering on the promise of high grades, strong margins, and world-class exploration potential this year and in years to come.”
Qualified Persons and 43-101 Disclosure
Ken Donner, P. Eng., Vice President, Operations for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.
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We acknowledge the [financial] support of the Government of Canada.