PureGold's (PGM) underground drilling program has returned high-grade mineralization, including 56.6 g/t gold over 1 m.
The results stem from underground drilling completed during the first quarter of 2021.
The drilling targeted zones close to new ramp developments and adjacent to planned stoping areas to expand reserves and increase grades in the PureGold Mine's near-term plan.
As evidenced by the following results, underground development at PureGold Mine continues to progress rapidly toward commercial production:
- 56.6 g/t gold over 1 m from drill hole PGB-0186
- 8.7 g/t gold over 7.9 m from drill hole PGU-0184, including 44.4 g/t gold over 1 m
- 7.5 g/t gold over 4 m from drill hole PGB-0194, including 19.9 g/t gold over 1 m
- 30.5 g/t gold over 0.6 m from drill hole PGB-0195
- 4.6 g/t gold over 7 m from drill hole PGU-0182, including 10.2 g/t gold over 1 m
- 13.4 g/t gold over 1.1 m from drill hole PGP-00004
- 11.5 g/t gold over 1 m and 10.5 g/t gold over 1.8 m from drill hole PGB-0203
With the milling facility now fully ramped up, the company will focus on delivering high-grade ore from both the Main and East ramps as development continues.
As of the end of the first quarter, three air-powered core diamond drills were active on the site delineating gold mineralization with both infill and extension drilling.
Darin Labrenz, President and CEO of PureGold, commented,
"Our underground drilling ahead of near-term mine production continues to reinforce the high-grade nature of this orebody. With gold recoveries at better than 95 per cent, and the mill ramp-up effectively behind us, we can now focus on maximizing delivery of high-grade ore 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."
PureGold is a gold mining company located in the heart of Red Lake, Ontario.
PureGold (PGM) is up 3.7 per cent and is currently trading at C$1.40 per share as of 12:00 pm ET.