Pure Gold Mining Inc (CVE:PGM) (LON:PUR) said Tuesday that its promising underground exploration campaign has intersected high-grade gold mineralization from step-out drill holes drilled close to existing underground development at its Red Lake mine project in Ontario.
The mine developer posted more encouraging results from underground drilling at its Red Lake mine, saying it has extended gold mineralization out from current design stopes, has “discovered new gold zones that will be integrated into mine planning,” and has “confirmed stopes scheduled for near term production.”
Underground drilling at Pure Gold’s Red Lake mine project intersected 12.8 grams per ton (g/t) gold over 10 metres from drill hole PGU-0136 and including 20.1 g/t gold over 5 metres.
In other highlights, the drilling at Red Lake intersected 9.3 g/t gold over 2.4 metres from drill hole PGU-0123; including 16.2 g/t gold over 1.1 metres, and 10.6 g/t gold over 2.0 metres from drill hole PGU-0124.
“These latest high-grade gold intercepts continue to reinforce our near-term growth plan for the Pure Gold Red Lake mine and to exhibit the tremendous strength, continuity and scalability of this high-grade gold system,” Pure Gold Mining CEO Darin Labrenz said in a statement.
“Underground exploration drilling continues to extend stopes that are part of our near term mine plan, and to discover brand new gold zones which could have a direct net positive impact on our production profile, and because of their proximity to existing development a potential impact to near term cash flow at our mine.”
The Pure Gold boss said that in this case the company has “more than doubled the strike length of a planned stope,” further demonstrating the dramatic transformative growth potential of its mine.
“We have only just begun a 30,000 metre exploration program, which will span across our seven kilometre gold corridor, and already we’re delivering on our objective of building a multigenerational mining complex in Red Lake, Canada,” Labrenz added.
Diamond drilling continues to identify extensions to design stopes, providing opportunity for additional high grade tonnes from existing or planned development. Previous drilling in the MV1280-3815 stope area, including 46.7 g/t gold over 7.0 metres from drill hole PGU-0118, demonstrated potential for eastern and western extension of that stope.
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