New high grade gold discoveries
Pure Gold Mining launches 2020/2021 exploration and resource growth program at its 100% owned PureGold Red Lake Mine in Red Lake, Ontario, Canada. Over 30,000 meters of diamond drilling, including both underground and surface drilling, is planned to optimize 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,” said Darin Labrenz, President and CEO.
“We are now launching an aggressive exploration program designed to realize our vision for future growth at Canada’s next gold mine. Our drill program 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 optimization.
