- PureGold Mining (PGM) reaffirmed its Q3 2022 guidance and announced that gold production in August 2022 set a new monthly record for the PureGold Mine
- Driven by record ore throughput and improved grades, both the August ore throughput of 25,188 tonnes (813 tonnes per day (tpd))) and gold production of 4,595 ounces represent monthly records for the mine to date
- The increase in average ore throughput in Q3 to date was 794 tpd compared to Q2’s average of 500 tpd and was driven by improved short-range planning processes, mining execution, and increased mill availability
- PureGold Mining Inc. (PGM) is up 19.05 per cent, trading at C$0.125 per share as of 12:30 pm ET
PureGold Mining (PGM) announced that gold production in August 2022 set a new monthly record for the PureGold Mine.
Driven by record ore throughput and improved grades, both the August ore throughput of 25,188 tonnes (813 tonnes per day (tpd)) and gold production of 4,595 ounces represent monthly records for the mine to date.
Ore throughput of 24,052 tonnes in July was also a monthly record until being broken in August.
The increase in average ore throughput in Q3 to date was 794 tpd compared to Q2’s average of 500 tpd and was driven by improved short-range planning processes, mining execution, and increased mill availability.
The company expects these improvements to continue to support strong and increasing production. Its near-term target is to increase ore throughput to 1,000 tpd.
The head grade in August of 5.9 g/t Au increased 90 per cent compared to July at 3.1 g/t Au. This improvement was driven by an increase in mill feed from high-grade stopes.
September production forecasts are underpinned by a robust drilled inventory, and the company remains on track to achieve its Q3 production guidance of 775-875 tpd at 4.0-5.0 g/t Au.
Definition drilling and planning activities are currently focused on production for November and December.
PureGold (PGM) is a Canadian mining company located in the heart of Red Lake, Ontario, Canada.
PureGold Mining Inc. (PGM) is up 19.05 per cent, trading at C$0.125 per share as of 12:30 pm ET.
