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PURE GOLD MAKES HIGH GRADE DISCOVERY SOUTH OF THE MADSEN MINE
Drilling returns 33.3 g/t gold over 8.3 metres starting at surface
VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM – TSX-V) (“Pure Gold” or the “Company”) announced today the discovery of multiple new zones of high grade gold mineralization located approximately three kilometres by road south of the Madsen milling infrastructure. This important new discovery, referred to as the Wedge Target, outcrops at surface, adds 1,100 metres of strike length to the Madsen Mine trend, and clearly highlights an exciting new area for potential resource expansion and underlines the inherent scalability of the Madsen Gold Project (“Madsen”).
Drilling highlights:
- Near surface mineralization has been intersected in multiple targets in the Wedge area with high grade gold mineralization returned over a strike distance of more than 800 metres. Mineralization in the Wedge target area outcrops at surface and is open for expansion;
- On the south end of the Wedge, multiple drill holes have intersected high grade gold, including 33.3 g/t gold over 8.3 metresfrom hole PG17-467 and 24.2 g/t gold over 1.0 metre from drill hole PG17-468;
- Drilling has also tested the Wedge target to the west, returning 12.1 g/t gold over 2.0 metres from drill hole PG17-474;
- Approximately 500 metres to the north drilling has returned multiple intercepts, with 21.3 g/t gold over 10.3 metres and10.7 g/t gold over 4.2 metres returned from drill hole PG17-486, 25.2 g/t gold over 2.1 metres and 22.0 g/t gold over 2.0 metres from drill hole PG17-482 and 27.8 g/t gold over 1.4 metres and 19.4 g/t gold over 2.0 metres from drill hole PG17-470;
Surface drilling is ongoing with the Company currently targeting plunge and strike extensions of these zones with the goal of developing another near surface satellite resource as well as testing for significant tonnage potential along the Wedge.
“The results delivered today clearly define the growth opportunities and scalability of the Madsen Gold Project.” said Darin Labrenz, President and CEO of Pure Gold. “Our team interpreted the gold-bearing structures which host the Madsen gold deposit and extend south through the Fork deposit to continue into the Wedge Target. This interpretation has been validated with the discovery of near-surface gold mineralization with exceptional widths and grades in three new mineralized zones south of the Madsen deposit. With mineralization outcropping at surface and wide open for expansion, the Wedge target represents an excellent opportunity to add meaningful resources to the existing mining project.”
Geologic Interpretation Delivers Near Surface Gold South of the Madsen Deposit
Initial drilling in the Wedge area was based on Pure Gold’s geologic interpretation which suggested gold-bearing structures controlling mineralization at Madsen and Fork continued southward into the Wedge area (see figure). The geology of the Wedge area is a southward continuation of the Madsen host rocks, and mineralization in the Wedge-CK and Wedge-DV zones is contained within blue-gray quartz veins within an altered basalt package that is transected by a major mineralized structure. Intercepts drilled to date have shown mineralization to be present at surface, and open for expansion. At the Wedge-DV mineralized zone, gold mineralization occurs in a quartz vein stockwork, with individual veins up to two metres in apparent width and associated with strong alteration. Mineralization in this area outcrops, is open, and demonstrates good continuity with drilling intersecting the gold structure over a 180 metre strike length. Highlights include drill hole PG17-486 which returned 21.3 g/t gold over 10.3 metres including 50.6 g/t gold over 4.2 metres.
The Wedge-CK mineralized zone located 500 metres south of, and on strike with the Wedge-DV, is characterized by the same geology and is highlighted by drill hole PG17-467 which returned 33.3 g/t gold over 8.3 metres including 73.4 g/t gold over 2.1 metres and including 41.5 g/t gold over 2.8 metres.
The Wedge-MJ mineralized zone is interpreted as a possible analog of known deposits on the same Russet Ultramafic contact, including the 8 Zone and Russet South deposits. Drill hole PG17-474, returning 12.1 g/t gold over 2.0 metres, highlights the potential of this geologic contact in the Wedge area.
