Pure Gold Mining (TSXV: PGM) released further assays from ongoing underground exploration at its flagship project in the Red Lake, Ontario mining camp this morning. The latest assays come from drilling near the main ramp access, where the company hit gold values as high as 23.4 g/t gold over 2.9 metres, including an interval of 50.1 g/t gold over 1.0 metre.
The drilling is said to have successfully extended mineralization out from planned stopes, while also discovering new gold zones that are being integrated into the plan for the mine. Three holes conducted in the program have identified a potential new stope from existing access levels, with the stope to be targeted in further drillings. In addition to the underground drilling, the company is also conducting surface exploration on several new targets while actual gold production is said to be “imminent.”
CEO and President of PureGold, Darin Labrenz, commented on the results, stating, “These latest high-grade gold intercepts continue to bolster our belief that continued high grade growth will add to the mine plan as we open up new zones. Our continued underground drilling success in concert with our ongoing surface exploration program, forms the foundation of our near-term and extended growth plan for the PureGold Mine.”
A summary of the results can be found below.
| Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
| PGU-0143 | 9.3 | 12.2 | 2.9 | 23.4 |
| incl. | 11.2 | 12.2 | 1.0 | 50.1 |
| 62.9 | 64.6 | 1.7 | 7.2 | |
| PGU-0144 | 7.4 | 9.5 | 2.2 | 13.7 |
| 16.1 | 17.1 | 1.0 | 13.9 | |
| PGU-0145 | 24.0 | 26.1 | 2.1 | 6.5 |
| incl. | 25.0 | 26.1 | 1.1 | 9.4 |
| PGU-0150 | 133.5 | 152.0 | 18.6 | 5.2 |
| incl. | 138.5 | 139.5 | 1.0 | 15.3 |
| and incl. | 143.0 | 149.0 | 6.0 | 10.3 |
| incl. | 147.0 | 148.0 | 1.0 | 27.7 |
| PGU-0159 | 101.7 | 102.7 | 1.0 | 15.2 |
| PGB-0179 | 0.0 | 2.9 | 2.9 | 7.3 |
| including | 0.8 | 2.3 | 1.5 | 14.3 |
| PGB-0182 | 8.0 | 8.6 | 0.6 | 15.7 |
| PGB-0183 | 26.1 | 28.0 | 1.9 | 11.6 |
Pure Gold Mining last traded at $2.57 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.
Mexico: The World’s Leading Silver Producer
There is a saying in the mining industry that miners go where the minerals are....