Pure Gold Hits More Near-Surface, High-Grade Gold at Madsen
Latest Drilling Builds High-Grade Continuity
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2015) - Pure Gold Mining Inc. (TSX VENTURE:PGM) ("Pure Gold" or the "Company") is pleased to announce that new drill results have expanded the near-surface, high-grade gold zones recently identified near the Madsen mine.
Drilling has been focused on two locations (Russet South and Fork Zone), both of which appear to be geologically related to important zones of mineralization at depth in the mine. The early success we have had in defining additional gold mineralization in shallow targets around the mine continues to indicate near surface exploration upside.
Madsen hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t Au (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t Au (in 0.79 million tonnes)1 and is situated in one of the most active exploration and mining camps in North America.
"Despite being Red Lake's 2nd largest past producer, previous operators conducted limited systematic generative exploration around the mine since its closure in 1974," stated Darin Labrenz, President and CEO of Pure Gold. "Our focus is to unlock the exploration potential of this 50 km2 property. Over the past eight months our new geological model has delivered high-grade gold mineralization in two key areas, and we are now building continuity in Russet South and Fork Zone."
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