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PureGold Intersects 55.4 g/t Gold over 5.0 Metres and 14.5 g/t Gold over 13.2 Metres

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PureGold Intersects 55.4 g/t Gold over 5.0 Metres and 14.5 g/t Gold over 13.2 Metres

 

 

 

 

 

Some of PureGold’s best drill results of 2021 currently being integrated into near-term mine plan

 

 

Pure Gold Mining Inc. (TSX-V:PGM) (LSE:PUR) is pleased to report high-grade drill intercepts returned from surface and underground drilling completed during the third quarter of 2021. This drilling was successful in demonstrating the tenor and continuity of gold mineralization for planned, near-term mine production from both the Main Ramp and the East Ramp areas, as well as establishing the potential for resource expansion close to existing development. Infill and extension drilling continues from both surface and underground to establish and prioritize mine sequencing, optimize mine development, and identify potential for resource expansion. Drill results are being integrated into the near-term mine plan on an ongoing basis.

 

Underground drilling results highlights:

 

  • 55.4 g/t gold over 5.0 metres from drill hole PGP-00072; including
    83.2 g/t gold over 2.0 metres; and including
    50.3 g/t gold over 2.0 metres;
  • 14.5 g/t gold over 13.2 metres from drill hole PGP-00086; including
    116.7 g/t gold over 1.0 metre;
  • 10.1 g/t gold over 7.8 metres from drill hole PGP-00091; including
    44.2 g/t gold over 1.0 metre;
  • 18.2 g/t gold over 3.9 metres from drill hole PGP-00070; including
    30.1 g/t gold over 1.9 metres.

 

A summary table of results is set out at the end of this News Release.

 

“Our drilling program continues to return outstanding high-grade results from both infill and step-out drilling conducted at the PureGold Mine,” stated Darin Labrenz, President & CEO of PureGold. “Highlighted drill results from this quarter represent some of the best results returned this year, with many targeting extensions to production areas planned for extraction within the next three months. Results from the East Ramp area are particularly encouraging, as they indicate significant potential for expansion of the existing resource along strike and down plunge of currently active development. With the success of this quarter’s drilling, the Company is expanding the ongoing drill program from both surface and underground with the goal of further delineation and growth of our near-term mine plan.”

 

Expanded Drilling Program

 

As of the end of the third quarter, two drill rigs—one surface core drill and one underground core drill—were active on the site and focused on delineating gold mineralization with both infill and extension drilling. Two more diamond drill rigs are expected to commence by the end of October bringing the total diamond drill rigs to four, with a focus on targeting production areas in the near-term mine plan. Results from this underground drilling will be reported on a timely basis as received.

 

Drill Results Summary

New assay results from select drill holes are outlined below:

 

Hole ID From (m) To (m) Length (m) Gold (g/t) Infill / Extension
PGU-0232 17.9 19.2 1.2 14.4 Extension
PGP-00026 79.0 80.0 1.0 12.4 Extension
PGP-00045 73.7 74.7 1.0 67.7 Infill
PGP-00050 41.0 42.0 1.0 11.1 Infill
PGP-00051 48.7 54.0 5.4 6.0 Infill
including 48.7 51 2.4 11.9  
PGP-00052 7.0 9.0 2.0 5.2 Infill
including 7.0 8.0 1.0 8.2  
PGP-00053 1.0 1.7 0.7 17.7 Infill
PGP-00055 0.4 1.0 0.6 16.4 Infill
PGP-00056 1.9 2.9 1.0 10.1 Infill
PGP-00057 1.0 2.0 1.0 20.9 Infill
PGP-00061 31.1 31.9 0.8 12.8 Extension
PGP-00064 57.6 59.0 1.4 8.5 Extension
PGP-00067 33.0 35.0 2.0 16.9 Extension
including 34.0 35.0 1.0 28.4  
PGP-00070 43.0 46.9 3.9 18.2 Infill
including 45.0 46.9 1.9 30.1  
PGP-00072 34.0 39.0 5.0 55.4 Extension
including 34.0 35.0 1.0 10.0  
and including 35.0 36.0 1.0 82.9  
and including 36.0 37.0 1.0 83.5  
and including 37.0 38.0 1.0 46.5  
and including 38.0 39.0 1.0 54.0  
PGP-00074 64.4 69.4 5.0 8.2 Extension
including 64.4 65.4 1.0 27.6  
PGP-00075 125.6 126.6 1.0 25.3 Extension
PGP-00078 42.1 44.0 1.9 6.9 Infill
PGP-00080 36.1 40.8 4.7 7.9 Infill
including 38.4 39.2 0.8 19.0  
PGP-00082 36.8 38.7 1.9 8.7 Infill
PGP-00086 51.5 64.8 13.2 14.5 Extension
including 53.5 55.3 1.8 75.8  
including 61.3 62.0 0.7 24.7  
PGP-00089 37.3 38.2 0.9 26.7 Infill
PGP-00091 12.2 20.0 7.8 10.1 Extension
including 15.0 16.0 1.0 44.2  
PGP-00092 10.0 12.1 2.1 6.4 Extension
  19.3 21.3 2.0 13.7  
PGP-00093 13.0 15.2 2.2 9.2 Extension
including 13.0 14.0 1.0 16.1  
PG21-849 48.1 50.0 1.9 8.2 Extension
  85.8 88.3 2.5 9.0  
PG21-851 81.4 83.4 2.0 16.6 Extension
PG21-853 48.0 49.0 1.0 9.1 Extension
  86.0 87.0 1.0 12.4  
PG21-858 80.4 81.4 1.0 9.8 Extension
PG21-859 132.0 133.0 1.0 9.7 Extension
PG21-863 104.0 105.0 1.0 19.6 Extension
PG21-865 72.1 73.3 1.2 20.6 Extension

 

*Assay composites were calculated using uncut assays and true widths are interpreted to vary from 80-95% (90%, on average) of reported core lengths above.

 

Grant of Options

The Company has granted 200,000 restricted share units and incentive stock options exercisable to purchase up to 350,000 common shares in the capital of the Company until October 27, 2026 at an exercise price of $0.97 per share to a director. The incentive stock options were granted in accordance with the Company’s Stock Option Plan.

 

QA/QC and Core Sampling Protocols

Drill core samples are submitted to SGS Minerals in Red Lake, Ontario and ALS Minerals in Thunder Bay, Ontario. NQ, BQ, and AQTK size core samples are whole core sampled after being detail logged and photographed. Samples are bagged, sealed, and shipped from the mine property to the analytical labs.

 

Samples processed at SGS are prepared by drying and crushing to 75% less than 2 mm, a riffle split of 250 g, and pulverization of the split to better than 85% passing 106 microns. Gold analysis is completed in the SGS Red Lake lab with a 30 g fire assay and AAS finish (code GE-FAA30V10). Samples returning >100 g/t Au are re-assayed with a gravimetric finish (code GO-FAG30V). Mineralized zones with visible gold are also analyzed by a 500 g screen fire assay with screening to 106 microns (code GO-FAS30M). Duplicate 30 g fire assays are conducted on the screen undersize and combined with an assay of the entire oversize fraction.

 

Samples processed at ALS include sample preparation by crushing to 70% less than 2 mm, a riffle split of 250 g, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, BC for gold analysis with a 30 g fire assay and AAS finish (code Au-AA25). Samples returning >100 g/t Au are re-assayed with a gravimetric finish (code GRA21). Control samples (certified standards and uncertified blanks), along with field, prep and pulp duplicates, are inserted on a regular basis. Results are assessed for accuracy, precision, and contamination on an ongoing basis.

 

Further details of drilling, analytical process, quality assurance and control, and sampling are available in the Feasibility Study technical report.1

 

Qualified Persons and 43-101 Disclosure

Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 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.

 

  1. For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com

 

Posted October 28, 2021

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