30,000m Diamond Drilling Campaign Underway
PureGold Mining Inc. (TSX-V: PGM, LSE: PUR) has launched its 2020/2021 exploration and resource growth programme at its 100% owned PureGold Red Lake Mine in Red Lake, Ontario, Canada.
President and CEO, Darin Labrenz, said that over 30,000m of diamond drilling, including both underground and surface drilling, is planned to optimise the near term mine plan, expedite the growth of our mineral resources and aggressively expand new high-grade discoveries.
“We believe strongly in the organic growth potential of our PureGold Red Lake Mine property. And we are confident that the mine plan outlined in our feasibility study is scalable and has the potential to expand,” Mr Labrenz said.
“We are now launching an aggressive exploration programme designed to realize our vision for future growth at Canada’s next gold mine.
“Our drill programme has been designed with the goal of: increasing indicated mineral resources through infill drilling, with potential to convert to future reserves; expand our gold resources through step-out drilling and make new high-grade discoveries through regional exploration
“While we remain completely focused on our fully-funded mine construction and ramp up, we strongly believe in the potential for our mineral reserves and mine production to grow, and our new program is designed to start building our future growth today.
“Underground drilling, which commenced today, is designed to infill and expand mineral resources with the goal of optimizing and expanding the near term mine plan.
“It is expected that underground drilling with the purpose of reserve replacement will form an important ongoing component through the life of mine. Initial drilling will occur in areas targeted for the first two years of production as part of our ongoing detailed mine plan optimisation.”
Previous drilling in this area includes:
· 232.4 g/t gold over 5.2m from drill hole;
· 50.2 g/t gold over 4m from hole;
· 28.2 g/t gold over 7m from drill hole;
· 26.4 g/t gold over 12.7m from drill hole;
· 19.4 g/t gold over 9.8m from; and
· 10.9 g/t gold over 9.8m, including 27.0 g/t gold over 3.8m.
Surface drilling will focus on expanding new discoveries along our 7+ kilometre gold corridor. The goal of this programme is to grow mineral resources in areas where we believe strong potential exists for mineral resources to convert to future reserves and form part of an expanded mine plan.
“This drilling forms an important component of our plan to establish the growth and scalability of our PureGold mine complex. Diamond drilling will commence in July with two drill rigs which will initially be deployed to the Wedge area ,” Mr Labrenz said.
“A third aspect of our exploration strategy is unveiling and establishing the growth potential of high-grade zones such as our 8 Zone.
“Open up and down-plunge for expansion, the 8 Zone has previously returned extraordinary drill results such as 466.0 g/t gold over 4.3 metres and 342.4 g/t gold over 5.5 metres and forms an important part of our phase 1 mine.
“Recent drilling in the area up-plunge has identified quartz veining with visible gold within a strong alteration footprint around the clearly defined structure which also hosts the 8 Zone.
“With the average gold grade in the 8 Zone indicated resource of 20.5 g/t, clearly the expansion of this zone, and discovery of similar zones, provide the opportunity for explosive transformative growth at the PureGold Red Lake Mine.
“The PureGold team is actively planning exploration drilling directed at this important component of the mine growth strategy, and further drilling is expected to commence in the coming months.”
The comprehensive PureGold exploration drill programme is expected to continue into 2021, with results released during the course of the activities.