Pure Gold Mining Inc (LRTNF)

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Underground Drilling at the PureGold Red Lake Mine Intersects 46.7 g/t Gold Over 7.0 Metres July 07, 2020

Drilling highlights potential for expansion of orebody close to ramp in areas nearing production

VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM: TSX-V, LSE: PUR) (“PureGold” or the “Company”), is pleased to announce that underground exploration drilling, initiated in June, has intersected high-grade gold mineralization from both infill and step-out drill holes. Drilling has extended gold mineralization out from planned stopes, has discovered new gold zones that will be integrated into the mine plan, and has confirmed stopes scheduled for near term production.1

Drilling results highlights:
46.7 g/t gold over 7.0 metres from drill hole PGU-0118; including 193.5 g/t gold over 1.0 metre;
57.0 g/t gold over 1.0 metre from drill hole PGU-0121;
15.8 g/t gold over 2.3 metres from drill hole PGU-0117;
7.2 g/t gold over 5.0 metres from drill hole PGU-0113; including 22.3 g/t gold over 1.0 metre.


“Over the last several years our team has developed a tremendous understanding of the PureGold mine deposit,” stated Darin Labrenz, President and CEO of PureGold. “We have established the scale of this gold system, with fantastic continuity along a seven kilometre trend, and we are building a mine that will be one of the highest grade mines in the world.2 Our 30,000 metre exploration program is designed to firmly establish growth and scalability beyond our initial phase 1 mine plan. But even within the footprint of our phase 1 mine, the deposit continues to exceed our expectations with broad, high-grade intercepts that demonstrate opportunities for near term growth. New drill results demonstrate that extensions of existing stopes and possible expansions of the mine plan occur very close to existing or planned development and as such, have the potential to impact near term mine cash flow.”

Diamond drilling has identified both extensions to feasibility stopes, providing opportunity for additional high grade tonnes from existing or planned development, and new gold mineralization that may be incorporated into future short term mine plans. For example, PGU-0117 intersected 15.8 g/t gold over 2.3 metres approximately 15 meters along strike from the planned MV1280-3815 stope providing potential for westward extension of that stope. PGU-0118 confirmed continuity and has extended the eastern margin of the MV1280-3815 stope by several metres, returning 46.7 g/t gold over 7.0 metres. PGU-0121 returned 57.0 g/t gold over 1.0 metre in a significant step out, 30 metres beyond the 3815 planned mining shape highlighting significant tonnage growth potential. This new mineralization is a near term opportunity for growth of the mine plan and will be targeted by future drilling and sill development.

Drilling has also confirmed stope mineralization, including drill hole PGU-0113 which intersected the planned MV1340 stope as an infill hole and returned a broad five metre zone of gold mineralization, widening the planned stope in this location.



Read more at:
https://www.puregoldmining.ca/news/underground-drilling-puregold-red-lake-mine-intersects-467-gt-gold-over-70-metres