https://puregoldmining.ca/our-projects/puregold-red-lake-mine
Exploration: Advancing new discoveries to build out the next phase of mining and unveil the true potential of the PureGold Red Lake Mine
During the construction phase underway at the PureGold Mine, the PureGold exploration team is focused on a discovery drill program seeking to add additional new resources by growing the three satellite deposits and continued expansion and definition of the extensive 7 kilometre long gold system. The Company has been rewarded with recent bonanza-grade gold results at the Wedge deposit and is continuing to drill Wedge, Russet South, Fork EXT and numerous other high-priority targets throughout the year 1.
Recent results from the exploration program continue to demonstrate the continuity of the large high grade PureGold Red Lake Mine gold system. In less than two years, we have made a new discovery at Wedge, established it firmly as part of a related, 7 kilometre long gold system and have rapidly developed a brand new mineral resource in the Red Lake mining district 2. During this time, we have also produced maiden mineral resource estimates for two additional new discoveries, the Russet and Fork deposits 2. With this understanding of the scale and tenor of gold mineralization firmly established, we are now drilling to expand and define this extensive gold system.
Surface drilling at the Wedge deposit has demonstrated the potential for these zones to continue to grow, with gold intercepts both within and outside of the current mineral resource.
2019 Wedge deposit drilling highlights1:
Infill and step-out drilling has been defined to upgrade and expand resources in the Wedge area. Drilling result highlights in 2019 include:
108.5 g/t gold over 1.0 metre from drill hole PG19-643;
94.6 g/t gold over 1.0 metre from drill hole PG19-654;
13.8 g/t gold over 1.0 metre from drill hole PG19-649;
167.0 g/t gold over 1.1 metres from drill hole PG19-693;
51.5 g/t gold over 1.5 metres from drill hole PG19-713.
In addition to ongoing exploration at Wedge, the current drilling campaign also includes the initial testing of the Fork EXT target which is located down-plunge of the near-surface Fork deposit and hosts strong alteration, blue-grey quartz veins, and anomalous gold in limited past drill testing. The Fork EXT target is hosted along the upper contact of the Russet Lake Ultramafic unit in an analogous geologic setting to the high grade 8 Zone of the PureGold Mine deposit. The 2019 exploration program will also continue surface work to prepare a further series of high priority exploration targets across the PureGold Mine Property for future discovery drilling.
The Company’s drill program is expected to continue through 2019, with results released throughout the year.
PureGold's exploration and development studies benefit from:
A management team with expert technical knowledge of the Red Lake district geology and operations and a track record of successfully advancing mining projects to operational readiness and/or production and;
Utilizing data and learnings from more than 13,000 drill holes evenly spaced throughout mineral resource drilled by previous operators, and;
67 kilometres of underground development and 38 years of active mining from previous operators, and;
A robust geologic model based on 27 levels of geological mapping and chip sampling; provides a solid understanding of the geology and continuity of mineralization, and;
Completed over 230,000 metres of diamond drilling (2014-present)
Ongoing exploration growth program
Support from strategic investors who are global gold industry leaders including Eric Sprott, Rob McEwen, Newmont Goldcorp and AngloGold Ashanti
References:
See the news release: NR 19-20, “PureGold Intersects Bonanza Grade Gold Including 108.5 G/t Gold Over 1.0 Metre at Madsen Red Lake”, July 30, 2019 and NR 19-28 PureGold Drilling Intersects High Grade Gold Minerlaization at 8 Zone Gap and Wedge, December 16, 2019.
See the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada“ with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information, available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com
Das Projekt wurde 2014 erworben und innerhalb von 6 Jahren wird jetzt die Produktion gestartet. Ich denke der Zeitrahmen ist in Ordnung. Es gibt viele Firmen die länger gebraucht haben. Desweiteren ist die Liegenschaft sehr hochwertig.
Wenn ich richtig verstehe wurden insgesamt über 1,3 Millionen Meter Drilling auf der Liegenschaft durchgeführt. Diese Bohrmeter wurden aber von Anfang an bis 2014 insgesamt durchgeführt.
Aber im oberen Text steht ja das große Teile noch nicht von Pure gold exploriert wurden. Vor allem dieser 7 km Trend. Das wird jetzt ja angegangen. Da brauchen wir jetzt ein wenig Geduld und in der Zwischenzeit wird Pure Gold abbauen und Geld verdienen. Es gibt deutlich schlimmere Szenarien. Die Millionenunzen werden jetzt gedrillt werden. Klar ist aber auch, dass wenn es hier nicht so eintreffen wird, wie von den Experten prognostiziert, dann ist das Entäuschungspotential groß.
Desweiteren sind nicht alle Targets in der aktuellen Studie enthalten.
The PureGold Red Lake Mine hosts a Probable Mineral Reserve of one million ounces at 9 g/t Gold in 3.5 million tonnes1.
The PureGold Mine Mineral Resources are 2,063,000 ounces at 8.9 g/t Gold in 7.20 million tonnes Indicated and 467,000 ounces at 7.7 g/t Gold in 1.88 million tonnes Inferred.1
The mineral resources for the Fork, Russet South and Wedge deposits were not incorporated in the 2019 Feasibility Study. Exploration and Delineation at these satellite deposits is ongoing.
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