ONTARIO – Vancouver-based Pure Gold Mining
has struck a bonanza at its Madsen gold project 16 km west of Red Lake. Recent drilling in the Austin horizon returned 126.6 g/t Au over 3.7 metres including 382.0 g/t over 1.0 metre (hole PG16-195).
The McVeigh horizon is returning high (if not bonanza) gold grades, too. Hole PG16-185 cut 4.9 metres of 9.5 g/t Au including 2.3 metres of 17.5 g/t. Hole PG16-191 intersected 5.4 metres grading 8.3 g/t Au including 3.5 metres of 11.6 g/t.
“Our drilling to date has been successful in establishing that the McVeigh horizon is analogous to the Austin horizon, with similar style of alteration and comparable widths and grades of gold mineralization,” said Pure Gold president and CEO Darin Labrenz. “Furthermore, drilling has demonstrated that the McVeigh is mineralized well below the shallow historic workings and has lateral continuity with deep roots. With this established, we are now stepping out more aggressively within the McVeigh, with the goal of testing the extents of the mineralization.”
The historic Madsen mine operated for 36 years and produced 2.5 million oz of gold. Indicated resources are estimated to be 3.24 million tonnes grading 8.93 g/t Au and containing 828,000 oz. The inferred portion is 790,000 tonnes at 11.74 g/t Au and containing 297,000 oz. The Madsen project hosts a number of prospective new discoveries including the Fork zone and Russet South targets, as well as two underground mines.
More information about the Madsen project is available at www.PureGoldMining.ca.