28th Jan 2020 11:48
(Alliance News) - Pure Gold Mining Inc said Tuesday that exploration drilling at the Pure Gold Red Lake mine in Canada intersected high-grade gold mineralisation from both infill and step out drill holes.
The Canadian exploration company said drilling tested "potential for growth of ore zones that will provide initial feed for the mine processing plant, and has yielded positive results suggesting strong mine continuity and the potential for mining stope expansion".
Drill results revealed 24.9 grams per tonne of gold over 1.0 metre from the drill hole PG19-708. And 34.1 grams per tone of gold over 2.2 metres from the drill hole PG19-710.
The Pure Gold Red Lake Mine is currently under construction with development ahead of schedule, and first gold pour is expected in the fourth quarter of 2020. The mine development was initiated as part of the test mining programme, the company noted.
Darin Labrenz, president the chief executive officer of the company, said: "The Pure Gold Red Lake Mine continues to produce significant, high-grade gold drill intercepts and today's results from areas planned for mining this year highlight local opportunities for mine expansion."
Pure Gold shares were trading 11% higher in London at 49.90 pence each on Tuesday.
By Loreta Juodagalvyte; [email protected]
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