Deep drilling has intersected high grade gold mineralization at a vertical depth of 1,373 metres, 240 metres below historical mining. Additionally, shallow underground definition drilling continues to de-risk potential near term production.

Release highlights:

  • The down plunge extension of the South Austin deposit has been intersected at a vertical depth of 1,373 metres, approximately 240 metres below any previous mining. Hole PG17-456 returned 34.6 g/t gold over 4.3 metres, including 67.0 g/t gold over 2.0 metres. This result confirms that the Madsen mine is open to depth with deep-seated gold mineralization similar to other prolific deposits in the Red Lake Mining District;
  • Ongoing underground drilling continues to intersect gold mineralization within the upper McVeigh deposit, including drill hole PGU-0016 which returned 12.7 g/t gold over 2.0 metres and drill hole PGU-0020 which returned 14.4 g/t gold over 4.1 metres.

"Today's exceptional results confirm that the Madsen Mine is open to depth" said Darin Labrenz, President and CEO of Pure Gold. "Historically, Madsen has produced nearly 2.5 million ounces of gold to a depth of approximately 1,200 metres below surface. The intersection of the South Austin deposit well below historic mine stopes supports the strong vertical continuity of a large scale mineral system, and demonstrates the long term future expansion potential of Madsen's deposits."

Drilling confirms Expansion of South Austin to Depth

Drill hole PG17-456 targeted the South Austin deposit at depth, intersecting mineralization approximately 240 metres below the deepest mining of the South Austin on Madsen Mine's 23 level. The hole returned 34.6 g/t gold over 4.3 metres, including 67.0 g/t gold over 2.0 metres at a vertical depth of 1,373 metres.

Mineralization in the Austin and South Austin deposits is interpreted to continue to depth well beyond the historic limits of mining. Deep plunge potential at Madsen is further supported by drilling of the Austin Deposit by a previous operator at a depth of approximately 2,100 metres with 14.3 g/t gold over 2.0 metres returned from drill hole AD-11-01.1

Underground Drilling Expands Mineralized Zones

Ongoing underground drilling from the Madsen ramp is designed to de-risk potential near term production by targeting initial stope shapes and testing for extensions to the current resource in the upper portion of the McVeigh deposit.

Drill hole PGU-0020 targeted the mineralized structure approximately 30 metres below any previous mining of the McVeigh deposit returning 14.4 g/t gold over 4.1 metres and including28.3 g/t gold over 2.0 metres. Drill hole PGU-016 targeted the McVeigh structure outside of the mineral resource and approximately 50 metres below existing resource blocks returning 12.7 g/t gold over 2.0 metres.