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Be the first with the news that moves the market- Pure Gold Mining (PGM) has intersected an impressive 1,147 grams per tonne of gold over 1.2 metres at its eponymous mine in Ontario’s Red Lake region
- The four-digit section came from a 4.9-metre assay with an average grade of 296.1 grams per tonne intersected at the property’s underground site
- The company also performed drilling at the property’s Wedge target, intersecting 66.3 grams per tonne and 24.3 grams per tonne both over one metre
- Looking forward, the company is still progressing the site to production and expects to pour its first gold later this year
- Pure Gold Mining (PGM) is up 9.57 per cent and is trading at C$2.52 per share
Pure Gold Mining (PGM) has intersected an impressive 1,147 grams per tonne of gold over 1.2 metres at its eponymous mine in Ontario.
The four-digit section came from a 4.9 metres assay with an average grade of 296.1 grams per tonne, which was intersected during underground exploration of the property’s planned mine site.
Other notable assays included 40 grams per tonne over 2.2 metres and 18.7 grams per tonne over 2.8 metres.
The company also performed drilling at the property’s Wedge target, which continued to expand the area’s known mineralisation along strike and down plunge.
Results from the Wedge target included 66.3 grams per tonne and 24.3 grams per tonne both over one metre. With the fresh assays from the prospective target, the company believes Wedge is a high priority zone for potential resource growth at the site.
President and CEO of Pure Gold Darin Labrenz said the company’s team has been intently working to growing resources at its high grade discoveries.
“Today’s exploration results continue our success at Wedge where we are pushing well beyond the boundaries of our phase one mine plan, demonstrating the high grade nature and growth potential of our large gold system.
“Along with high grade results from underground, our exploration work continues to crystallize this opportunity, providing clear support for the opportunity to grow the PureGold Mine into an iconic Canadian producer in the heart of Red Lake,” he added.
Looking forward, the company is still progressing the site to production and expects to pour its first gold later this year.
Pure Gold Mining (PGM) is up 9.57 per cent and is trading at C$2.52 per share at 10:13am EDT.
