The gold was intersected midway between the high grade eight zone at depth and near surface Russet South mineral resources. Credit: James St. John

Pure Gold Mining has intersected gold mineralisation at its Madsen Mine project in Red Lake, Ontario, Canada.

The gold was intersected midway between the high grade eight zone at depth and near surface Russet South mineral resources at the project.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The eight zone has an indicated resource grading 20.5g/t gold and an inferred resource grading 12.4g/t gold.

According to the company, the new gold-bearing intercept opens a new target area for discovery. With this, the 2019 drilling programme has been expanded to 20,000m.

The company reported that a drill hole targeting the midpoint intersected a 10m wide, gold bearing zone, at 2.2g/t gold over 10.4m, within ultramafic rocks of the Balmer assemblage.

Pure Gold president and CEO Darin Labrenz said: “Madsen continues to be a dynamic project with resource and production potential well beyond the feasibility base case. Outside of the feasibility mine plan we have made multiple discoveries and established new mineral resources within a system that keeps expanding along strike.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This latest drilling represents a sea change in exploration prospectivity, establishing the tremendous potential of a brand new mineralised corridor that is anchored by the high grade eight zone at depth and the outcropping Fork and Russet South zones at surface.”

Spanning over 46km², the Madsen Red Lake mine is one of Canada’s high grade development-stage gold properties. The first gold is expected to pour late next year.

Next month, a third rig will start production level underground drilling.