Pure Gold Mining says high-grade underground drill results at Red Lake augur well for near-term mine plan

Pure Gold Mining Inc (CVE:PGM) (LON:PUR) (OTCMKTS:LRTNF) (FRA:L11A) posted Tuesday high-grade results from underground drilling at its mine in Red Lake, Ontario, which show the potential to improve on the near-term mine plan. 

The assays come from work completed in the first quarter this year close to new mine development and next to planned stoping areas. 

READ: Pure Gold Mining hails positive ramp-up of Red Lake mine as it continues towards declaring commercial production

As reported on April 1 this year, the company continues to ramp-up the gold mine towards declaring ‘commercial production’ and the processing mill is now running at full pelt.

“Our underground drilling ahead of near-term mine production continues to reinforce the high-grade nature of this orebody,” said Darin Labrenz, CEO of PureGold, in a statement today.

“With gold recoveries at better than 95%, and the mill ramp up effectively behind us, we can now focus on maximizing delivery of high-grade ore from underground.”

The company boss noted that the main ramp development will continue to provide access to increasingly higher grades, while the east ramp is expected to expand mine flexibility and offer high grades from underground.

“Our drilling program will continue to focus on delineating these stopes and establishing production growth over the coming quarters as we get into the heart of the orebody and continue to execute on our organic growth strategy,” he added.

Drill results reported today included 56.6 grams per ton (g/t) gold over 1 metre (m) from one hole, and 8.7 g/t gold over 7.9m in another. Another hole intersected 30.5 g/t gold over 0.6m.

These results are now being integrated into near-term mine planning, said PureGold, while development completed to date from the main ramp will allow production from some of these areas in 2021.

PureGold aims to develop a highly-profitable long life gold mining company and become Canada’s next iconic gold producer.

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Story by ProactiveInvestors