Reconditioning the ramp at the Madsen gold project in Ontario. (Image: Pure Gold Mining)
ONTARIO – Vancouver-based Pure Gold Mining has won the Developer of the Year Award from the Northwestern Ontario Prospectors Association for the Madsen gold project 16 km west of Red Lake. The presentation was made in Thunder Bay, Ont., on April 3, 2018.
In 2017, Pure Gold achieved several major milestones for the Madsen Project that included:
- Completion of over 150,000 meters of drilling in the past two year;
- Completion of an updated mineral resource report in August 2017 for the Madsen deposit resulting in an indicated resource of 1.6 million oz. of gold at 8.9 g/t gold (in 5.79 million tonnes) and an inferred resource of 178,000 oz. at 9.4 g/t (in 590,000 tonnes) at a cut-off grade of 4 g/t gold;
- Reopening and reconditioning of the Madsen underground ramp including the installation of new ground support, water line, mine air heating and ventilation, power line construction and commissioning, and communications infrastructure;
- Completion of the preliminary economic assessment (PEA) in September 2017;
- Addition of mineral resources from two satellite deposits to the Madsen resource in December 2017;
- Discovery of multiple zones of high grade gold mineralization at the Wedge satellite target; and
- Initiation of a definitive feasibility study in December 2017 to be completed in Q4 2018.
Pure gold president and CEO thanked the team of First Nations, local communities, employees, consultants and contractors. He called the award “a deserving recognition for all your efforts as we advance the Madsen gold project onto the path of becoming Ontario’s next gold mine.”
The Madsen project is discussed in detail at www.PureGoldMining.ca.