ONTARIO – Vancouver-based Pure Gold Mining says the results from drilling at the Russet South target on the Madsen gold property near Red Lake has extended the mineralization. Multiple gold-bearing zones were intersected.
Map of recent drill results from the Russet South target at the Madsen mine.
The best assays came from three holes. Hole 17-364 intersected 27.1 g/t gold over 5.8 metres along the lower contact of a key ultramafic unit in an area known as the Alpha zone. Hole 17-391 intersected the sparsely tested upper ultramafic contact, returning 80.7 g/t gold over 1.0 metre. Finally hole 17-352 returned 17.7 g/t over 2.0 metres; it was situated 190 metres north of 17-335 that returned 4.4 g/t over 12.0 metres on the same geologic contact.
The Madsen mine operated for over 36 years with historic production of 2.5 million oz. of gold. The indicated resource is 3.24 million tonnes at 8.83 g/t gold and containing 928,000 oz. The inferred resource is 790,000 tonnes grading 11.74 g/t and containing 297,000 oz. of gold. Permits are in place for the project.
Pure Gold has paused drilling at Madsen because of spring break-up. Drilling will continue to test the potential near the mine infrastructure and along the >5-km strike length of the Madsen mineralized system.
Read the 2016 preliminary economic assessment for the Madsen project at www.PureGoldMining.ca.