Pure Gold Mining Expects Commercial Production In Q2 2021

Pure Gold Mining (TSXV: PGM) this morning issued a brief update related to the ramp up of operations at its gold mine in Red Lake, Ontario. The company has now transitioned to full scale ramping of its mining and milling operations following the first gold pour back in December.

In terms of the mines production, the company reportedly brought the first high grade stopes into production in late February, resulting in grade improvement. Lateral sill development is now complete, with higher grade feedstock expected to make up a growing portion of production over the coming months. The company currently is guiding towards 7.0 g/t gold production for the month of March.

The company is also in the process of developing a second decline into the mine on the northeast side. Collared in 2020, the firm is advancing at seven metres per day as it looks to open the second ramp. Lateral sill development is expected to begin by the end of the month, with production expected to begin in April, enabling design capacity of 800 tonnes per day from the mine to bve achieved.

In terms of processing, the company averaged 600 tonnes per day in February as it heads towards its design capacity which is expected to be hit in the coming weeks. Gold recovery has been pegged at 95%, meeting expectations. The company as a result expects to announce commercial production in the second quarter, after which point production and cost guidance for the remainder of the year will be provided.

Pure Gold Mining last traded at $1.77 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.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Exploits Discovery Commences 13,500 Line-Kilometre Survey

Exploits Discovery (CSE: NFLD) has already begun its 2021 field program at its Great Bend,...

Tuesday, January 12, 2021, 09:42:12 AM

Riverside Completes Spin-Out of Capitan Mining

Riverside Resources (TSXV: RRI) has completed the spin out of shares of Capitan Mining (TSXV:...

Friday, August 14, 2020, 09:50:42 AM

Pure Gold Sees Q1 Results Outline Poor Financial Position

Pure Gold Mining (TSXV: PGM) early this morning posted its first quarter 2022 production results....

Tuesday, May 17, 2022, 09:26:36 AM

Montage Gold Intersects 301.8 Metres Of 0.60 g/t Gold, Feasibility Study To Be Released This Year

Montage Gold (TSXV: MAU) last night announced the latest infill drilling results for its Kone...

Wednesday, June 23, 2021, 07:42:46 AM

Marathon Gold Enters Cooperation Agreements With Six Local Communities For Valentine Project

Marathon Gold (TSX: MOZ) this morning announced that it has signed cooperation agreements with six...

Wednesday, December 9, 2020, 08:15:33 AM