Vancouver-based PureGold has reached commercial production at its namesake mine in Ontario, marking an “exciting” growth phase for the company, reports CEO Darin Labrenz.
“By combining stable gold production with the high-grade exploration potential that makes the PureGold mine so unique, we are making significant progress toward our goal of unlocking the full potential of the PureGold mine and becoming Canada's next iconic gold producer,” he says.
The PureGold mine, milling facilities and other critical systems are all operating in line with, or rapidly approaching, design capacity of 800 t/d of ore on a sustainable basis.
Construction of the mine started in 2019 and first gold was poured in December 2020. The Phase 1 mine is expected to produce more than one-million ounces of high-grade gold over a 12-year mine life.
With the cash flow generated from gold production, PureGold will pursue a phased organic growth strategy and continue expansion along a 7-km-long gold corridor.
Phase 2 is already under way and so is planning for Phase 3, which will incorporate existing and newly-discovered mineral resources that lie outside the Phase 1 footprint into an expanded mine plan.