Pure Gold Mining (TSXV: PGM) has released results from its ongoing drill program at its flagship Pure Gold Mine in Red Lake, Ontario. Highlights from the program include 296.1 g/t gold over 4.9 metres including 1,147.1 g/t gold over 1.2 metres from underground drilling, as well as 66.3 g/t gold over 1.0 metre from surface drilling.
The company continues to complete ongoing surface exploration at the property as it looks to further expand its mineral resources. The company is targeting both resource upgrades and expansions outside of the current mineral reserves. Underground, the company continues with stope delination drilling in areas targeted for both gold production and first ore delivery from the mine.
Underground drilling is expected to continue for the life of the mine, as the company continually looks to extend mineralization from planned stopes, while also confirming stopes planned for mineralization. On the surface, drilling is expected to continue via two surface rigs, with over 30,000 metres planned for 2021.
Highlights from the underground program include the following.
|Hole ID||From (m)||To (m)||Length (m)||Gold (g/t)||Method|
Highlights from the surface program meanwhile contain the following. All surface drilling reported this morning is from the Wedge zone, which is located just under three kilometres by road to the south of the firms processing facility. The zone is viewed as a southwest extension of the current mineral system with the overall structure believed to extend over more than seven kilometres.
- 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.
Pure Gold Mining last traded at $2.30 on the TSX Venture.
Information for this briefing was found via Pure Gold Mining and Sedar. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.