Pure Gold drilling hits grades of 56.6 g/t
Ontario-based Pure Gold Mining’s stock closed 5% higher on Tuesday, after the company reported high-grade drill intercepts from its underground drilling programme at its namesake mine in Red Lake.
The results included 56.6 g/t gold over 1 m; 8.7 g/t gold over 7.9 m, including 44.4 g/t over 1 m; 7.5 g/t over 4 m, including 19.9 g/t over 1 m; and 30.5 g/t over 0.6 m.
The drilling targeted zones in close proximity to new ramp development and adjacent to planned stoping areas with the goal of expanding available reserves. The company said that the results were being integrated into near-term mine planning.
“Our underground drilling ahead of near-term mine production continues to reinforce the high-grade nature of this orebody,” stated president and CEO Darin Labrenz.
“With gold recoveries at better than 95%, and the mill ramp up effectively behind us, we can now focus on maximising delivery of high-grade ore from underground.
“Our prioritised Main ramp development will continue to provide access to increasingly higher grades, and with the East ramp now touching the orebody we expect expanded mine flexibility and high-grade ore delivery from underground,” he said.
Pure Gold’s drilling programme is continuing.
The company’s share price closed at C$1.42 apiece.
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