Successful Step-Out Hits 20.1 g/t Gold Over Five Metres
PureGold Mining Inc. (TSX: PGM)( LSE:PUR) has intersected high-grade gold mineralisation from step-out drill holes drilled close to existing underground development at te Red Lake Project in Canada.
Drilling has extended gold mineralisation out from current design stopes, has discovered new gold zones that will be integrated into mine planning, and has confirmed stopes scheduled for near term production.1
- 12.8 g/t gold over 10m; including 20.1 g/t gold over 5m;
- 9.3 g/t gold over 2.4m; including 16.2 g/t gold over 1.1m; and
- 10.6 g/t gold over 2m.
“These latest high-grade gold intercepts continue to reinforce our near-term growth plan for the PureGold Red Lake Mine and to exhibit the tremendous strength, continuity and scalability of this high-grade gold system,” said President and CEO Darin Labrenz said.
“Underground exploration drilling continues to extend stopes that are part of our near term mine plan, and to discover brand new gold zones which could have a direct net positive impact on our production profile, and because of their proximity to existing development a potential impact to near term cash flow at our mine.
“In this case we have more than doubled the strike length of a planned stope, further demonstrating the dramatic transformative growth potential of our PureGold Mine. We have only just begun a 30,000mexploration programme, which will span across our seven kilometre gold corridor, and already we’re delivering on our objective of building a multigenerational mining complex in Red Lake, Canada.”
Mr Labrenz said diamond drilling continues to identify extensions to design stopes, providing opportunity for additional high-grade tonnes from existing or planned development. Previous drilling in the MV1280-3815 stope area, including 46.7 g/t gold over 7.0 metres from drill hole PGU-0118, demonstrated potential for eastern and western extension of that stope.
Drill holes PGU-0123 and PGU-0124 have further extended mineralisation highlighting the opportunity for significant growth of this stope.
Prior to underground drilling, the modelled stope had a strike length of 40 metres. Current drilling has shown the potential to extend the strike length of this stope to 100 metres. Several diamond drill holes (PGU-0132 to PGU-0138) were also completed to test for potential extensions of stoping areas in the hanging wall of the 2018 test mining area.