Updated PureGold resource reported
TSX-V- and LSE-listed Pure Gold Mining has updated the mineral resource estimate (MRE) for its namesake mine near Red Lake, Ontario.
PureGold has a resource of 1.65-million ounces at 7.4 g/t within 6.9-million tonnes in the indicated mineral resource category and 0.37-million ounces at 6.3 g/t in 1.8-million tonnes in the inferred category.
The updated estimate will form the basis of a new prefeasibility study (PFS) and updated life-of-mine (LoM) plan, also being completed by SRK, which is expected to be released in the fourth quarter of 2022.
“The thorough independent review and update led by SRK shows that the PureGold mine remains underpinned by a multi-million-ounce high-grade gold resource," said president and CEO Mark O’Dea.
The updated MRE is based on a combination of deep geological understanding, closely spaced drilling, and first-hand observations of stope scale shapes and continuity.
"The team is confident that the forthcoming updated PFS and LoM plan will demonstrate the near-term potential of the PureGold mine and lay the foundation for future growth," says O'Dea.
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