TIDMPUR
RNS Number : 4844U
Pure Gold Mining Inc.
06 April 2021
The following amendment has been made to the announcement
released on 06-04-2021 at 07:31 under RNS No 4714U.
A link to the complete table of drill results has been
included.
All other details remain unchanged.
The full amended text is shown below.
NEWS RELEASE 21- 05
April 6 , 2021
PUREGOLD DRILLING RETURNS HIGH GRADES INCLUDING 56.6 G/T GOLD
OVER 1.0 METRES
Underground drilling intersects higher gold grades adjacent
ongoing mine development
VANCOUVER, B.C. - Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR)
("PureGold" or the "Company"), is pleased to report high grade
drill intercepts returned from underground drilling completed
during the first quarter of 2021. This drilling targeted zones in
close proximity to new ramp development and adjacent to planned
stoping areas with the goal of expanding available reserves and
increasing grades in the near-term mine plan. As underground
development at the PureGold Mine continues to progress rapidly
toward commercial production and unlock access to high grade ore,
these positive results highlight the clear path to significantly
improve the already strong mine plan over the next 12
months.(1)
Underground drilling results highlights:
-- 56.6 g/t gold over 1.0 metre from drill hole PGB-0186;
-- 8.7 g/t gold over 7.9 metres from drill hole PGU-0184; including
44.4 g/t gold over 1.0 metre;
-- 7.5 g/t gold over 4.0 metres from drill hole PGB-0194; including
19.9 g/t gold over 1.0 metre ;
-- 30.5 g/t gold over 0.6 metres from drill hole PGB-0195;
-- 4.6 g/t gold over 7.0 metres from drill hole PGU-0182; including
10.2 g/t gold over 1.0 metres;
-- 13.4 g/t gold over 1.1 metres from drill hole PGP-00004;
-- 11.5 g/t gold over 1.0 metres and 10.5 g/t gold over 1.8 metres from drill hole PGB-0203.
A summary table of results is set out at the end of this News
Release.
Results received are being integrated into near-term mine
planning. Access development completed to date from the main ramp
will facilitate production from some of these areas in 2021. With
the milling facility now fully ramped up, the Company's focus will
shift to delivering high grade ore from both the Main and East
ramps as development continues to access higher grade stopes and
the mine rapidly progresses toward commercial production.
"Our underground drilling ahead of near-term mine production
continues to reinforce the high-grade nature of this orebody,"
stated Darin Labrenz, President & CEO of PureGold. "With gold
recoveries at better than 95%, and the mill ramp up effectively
behind us, we can now focus on maximizing delivery of high grade
ore from underground. Our prioritized 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. Our
drilling program will continue to focus on delineating these stopes
and establishing production growth over the coming quarters as we
get into the heart of the orebody and continue to execute on our
organic growth strategy."
Underground Drilling Update
As of the end of the first quarter, three air-powered
underground core diamond drills were active on the site and focused
on delineating gold mineralization with both infill and extension
drilling. Results from this underground drilling will continue to
be reported on a quarterly basis.
Drill Results Summary
New assay results from select drill holes are outlined
below:
Hole ID From To (m) Length Gold (g/t)
(m) (m)
PGU-0167 38.6 43.2 4.6 4.4
----- ------- ------- -----------
including 41.2 42.2 1.0 9.6
----- ------- ------- -----------
PGU-0170 56.0 57.0 1.0 6.3
----- ------- ------- -----------
68.0 69.0 1.0 7.0
----- ------- ------- -----------
PGU-0171 65.4 70.0 4.6 4.0
----- ------- ------- -----------
including 68.0 69.0 1.0 11.6
----- ------- ------- -----------
PGU-0175 53.0 54.0 1.0 7.4
----- ------- ------- -----------
PGU-0177 46.0 48.0 2.0 6.9
----- ------- ------- -----------
including 46.0 47.0 1.0 10.9
----- ------- ------- -----------
PGU-0180 53.6 54.1 0.5 13.6
----- ------- ------- -----------
PGU-0182 40.0 47.0 7.0 4.6
----- ------- ------- -----------
including 45.0 46.0 1.0 10.2
----- ------- ------- -----------
PGU-0184 44.3 52.2 7.9 8.7
----- ------- ------- -----------
including 44.3 50.3 1.0 44.4
----- ------- ------- -----------
PGB-0186 24.5 25.5 1.0 56.6
----- ------- ------- -----------
PGB-0192 20.8 21.5 0.7 7.2
----- ------- ------- -----------
24.0 25.0 1.0 12.9
----- ------- ------- -----------
PGB-0194 21.0 25.0 4.0 7.5
----- ------- ------- -----------
including 23.0 24.0 1.0 19.9
----- ------- ------- -----------
PGB-0195 10.9 11.5 0.6 30.5
----- ------- ------- -----------
PGB-0198 13.0 14.0 1.0 8.5
----- ------- ------- -----------
PGB-0203 1.3 2.3 1.0 11.5
----- ------- ------- -----------
27.5 32.7 5.3 4.9
----- ------- ------- -----------
including 30.9 32.7 1.8 10.5
----- ------- ------- -----------
PGB-0205 19.0 21.0 2.0 7.2
----- ------- ------- -----------
including 20.0 21.0 1.0 12.2
----- ------- ------- -----------
PGB-0218 12.6 13.6 1.0 6.5
----- ------- ------- -----------
PGP-00004 39.9 41.0 1.1 13.4
----- ------- ------- -----------
*Assay composites were calculated using uncut assays and true
widths are interpreted to vary from 80-95% (90%, on average) of
reported core lengths above.
For a complete table of 2021 Underground Drill Results, click
here:
https://puregoldmining.ca/wp-content/uploads/2021/04/2021-Underground-DH-Intercepts-Table-April-6-Final.pdf
QA/QC and Core Sampling Protocols
Underground drill core samples are submitted to SGS Minerals in
Red Lake. Underground core samples are whole core sampled after
being detail logged and photographed. Sample shipments are bagged
and sealed and picked up at the mine site by SGS Minerals
employees. Samples reported herein include BQ and ATK-size whole
core samples and are prepared by drying and crushing to 75% less
than 2 mm, a riffle split of 250 g, and pulverization of the split
to better than 85% passing 106 microns at the SGS Red Lake
facility. Gold analysis is completed in the SGS Red Lake lab with a
30 g fire assay and AAS finish (code GO-FAA30V10 for mine samples
and GE-FAA30V5 for exploration samples). Mine samples returning
>100 g/t Au and exploration samples returning >5 g/t Au are
re-assayed with a gravimetric finish (code GO-FAG30V). Mineralized
zones with visible gold are also analyzed by a 500 g screen fire
assay with screening to 106 microns (code GO-FAS30M). Duplicate 30
g fire assays are conducted on the screen undersize and combined
with an assay of the entire oversize fraction.
Control samples (certified standards and uncertified blanks),
along with field, prep and pulp duplicates, are inserted on a
regular basis. Results are assessed for accuracy, precision, and
contamination on an ongoing basis.
Further details of drilling, analytical process, quality
assurance and control, and sampling are available in the
Feasibility Study technical report. (2)
Qualified Persons and 43-101 Disclosure
Phil Smerchanski, P. Geo., Vice President, Exploration for the
Company, is the designated Qualified Person for this news release
within the meaning of National Instrument 43-101 ("NI 43-101") and
has reviewed and verified that the technical information contained
herein is accurate and approves of the written disclosure of
same.
About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red
Lake, Canada. Our objective is pure and simple. To develop a
highly-profitable long life gold mining company, becoming Canada's
next iconic gold producer. Our plan is very disciplined, very
methodical and financially sound. To expand organically, and
develop PureGold's multi-million ounce high grade gold asset
incrementally, step-by-step, using a phased mining development plan
to deliver maximum return.
Additional information about the Company and its activities may
be found on the Company's website at www.puregoldmining.ca and
under the Company's profile at www.sedar.com
1. For further information, see the PureGold news release dated
March 31, 2021 titled "PureGold Milling Facility Achieves Design
Capacity, Additional Liquidity Secured as Puregold Mine Continues
Ramping Up".
2. For further information, 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 please see www.puregoldmining.ca or under
the Company's Sedar profile at www.sedar.com
ON BEHALF OF THE BOARD
"Darin Labrenz"
Darin Labrenz, President & CEO
Investor inquiries:
Adrian O'Brien, Director, Marketing and Communications
Tel: 604-809-6890
aobrien@puregoldmining.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
All statements in this press release, other than statements of
historical fact, are "forward-looking information" with respect to
PureGold within the meaning of applicable securities laws,
including, but not limited to statements with respect to those that
address proposed timing of development plans for the PureGold Mine
complex, timing of expected production, timing and size of
exploration activities, potential for advancing the amount and
timing for higher grade ore, potential for additional resources and
expansion of known deposits and potential for making new
discoveries and the focus of the Company in the coming months .
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "progress",
"continue", "planned", "expect", expectations", "expand",
"increasing", "project", "predict", "potential", "targeting",
"intends", "believe", "improved", "potential", and similar
expressions, or describes a "goal", or variation , of such words
and phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing
licences and permits and obtaining required licences and permits,
labour stability, stability in market conditions, availability of
equipment, accuracy of any mineral resources, successful resolution
of disputes and anticipated costs and expenditures. Many
assumptions are based on factors and events that are not within the
control of PureGold and there is no assurance they will prove to be
correct.
Such forward-looking information, involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to the
interpretation of results at the PureGold Mine complex ; changes in
project parameters as plans continue to be refined; current
economic conditions; future prices of commodities; possible
variations in grade or recovery rates; the costs and timing of the
development of new deposits; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; the timing and success of exploration and development
activities generally; delays in permitting; possible claims against
the Company; the timing of future economic studies; labour disputes
and other risks of the mining industry; delays in obtaining
governmental approvals, financing or in the completion of
exploration as well as those factors discussed in the Annual
Information Form of the Company dated March 31, 2021 in the section
entitled "Risk Factors", under PureGold's SEDAR profile at
www.sedar.com .
Although PureGold has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. PureGold disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise
unless required by law.
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END
DRLDKABDFBKKDQK
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