ONTARIO – Pure Gold Mining of Vancouver says it has successfully tested the high grade gold mineralization below the workings of the historic Madsen mine 15 km west of Red Lake. Drilling though the McVeigh horizon returned 10.3 g/t Au over 3.2 metres including 50.8 g/t Au over 0.6 metres in hole PG16-060.
Holes collared about 1.0 km to the south cut 11.0 g/t Au over 5.9 metres, 30.0 g/t over 1.0 metre, and 10.9 g/t over 1.0 metre. The McVeigh horizon has now been tested to a maximum depth of 300 metres below surface. Another 2,200 metres of diamond drilling has been completed at the Russet South discovery, 1.5 km from the Madsen headframe, and assays are pending.
Pure Gold has commissioned a preliminary economic assessment for the Madsen project. The base case will minimize capital outlay by using existing infrastructure based on a mill throughput of 500 t/d. The study is due in the current quarter.
Additional details and images from the most recent drilling are available in the news release dated April 4, 2016, posted at www.PureGoldMining.ca.