Proactive Investors - Run By Investors For Investors

Pure Gold hits over 17 g/t gold over 3.5 metres at Madsen in Red Lake

Pure Gold hits over 17 g/t gold over 3.5 metres at Madsen in Red Lake

Pure Gold Mining (CVE:PGM) shares rallied as much as 5.5 percent on Wednesday after reporting drill results from its ongoing exploration program at its Madsen gold project in the Red lake gold district of Ontario. 

The results were highlighted by an intercept of 17.18 grams per tonne (g/t) gold over 3.5 metres, occurring approximately 115 metres below surfact at the Fork zone.

The hole is the most southern hole targeted the zone, which remains open along strike and to depth. The structure has so far been traced for 275 metres in strike length, to a vertical depth of 200 metres.

The company has completed seven drill holes in the area, with three of them returning visible gold, Pure Gold said.

The Fork zone will be further drill tested by the company following the winter freeze-up, it added.

Shares jumped to as high as 28.5 Canadian cents on Wednesday, up 5.5 percent.

 

View full PGM profile View Profile

Pure Gold Mining Timeline

Related Articles

1541077171_Gold-bar-plus-nugget.jpg
November 01 2018
Medusa remains on track to produce between 90,000 and 100,000 ounces of gold in 2019
mine
February 06 2019
The plan is to get into profitable mining at about 30,000oz per year initially and see what the full potential might be as operations go deeper
1542614662_Galantas-fourth-try.jpg
November 19 2018
The plan is to move towards a production rate of 30,000 ounces of gold a year
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use