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Pure Gold adds resources from 2 satellite deposits at Madsen gold project


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Pure Gold adds resources from 2 satellite deposits at Madsen gold project

Pure Gold Mining Inc. on Dec. 14 announced the addition of resources from two satellite deposits at its Madsen gold project in Ontario.

The inclusion of the Russet South and Fork deposits adds 96,000 ounces of gold to indicated resources at Madsen, with 118,000 ounces added to inferred resources.

Madsen now hosts total indicated resources containing 1.6 million ounces within 5.8 million tonnes grading an average 8.9 g/t of gold, with inferred resources containing 178,000 ounces of gold within 587,000 tonnes grading 9.4 g/t of gold.

The estimate uses a cutoff of 4.0 g/t of gold and incorporates data from 32,803 meters of drilling at Russet South and 44,087 meters of drilling at Fork.

Both deposits outcrop at surface and are approximately 1.5 kilometers from existing milling infrastructure at Madsen, with Pure Gold noting that mineralization remains open for expansion.

The company plans to resume surface drilling in early 2018. Drilling will aim to expand mineralization updip from the 8 zone and downdip from Russet South and will also test the 1.6-kilometer gap between the two deposits.

Pure Gold aims to complete an updated resource estimate for the main Madsen deposit in conjunction with a feasibility study anticipated in 2018.