Environmental baseline and permitting updates are also underway. In addition to the FS, the Company is completing a first time evaluation of the economics of the Russet South, Fork and Wedge satellite deposits1. This Preliminary Economic Assessment of the satellite deposits has the potential to demonstrate project scalability at Madsen.2
Exploration success to date has included new discoveries within the Madsen Deposit and discoveries at the Russet South, Fork and Wedge satellite deposits1.
At Pure Gold, we’ve assembled and acquired 100% ownership of more than 47 square kilometres of contiguous patented mining claims. Our Madsen Mine asset has produced 2.5 million ounces of gold, making it the second largest historic gold producer in Red Lake.
Through the application of modern geoscience, Pure Gold has unlocked the geology of the trend, linking what were previously viewed as separate target areas into a common geological model, demonstrating the potential size of the Madsen gold system.
To which we say, pure opportunity.
Pure Gold is focused on the objective of near term mining production at Madsen.
The Company will complete an updated mineral resource and a feasibility study in Q1 2019. Drilling and metallurgical results from the Wedge, Russet South and Fork Deposits will be incorporated into an updated resource estimate and satellite deposit PEA, on track for Q1 2019. The satellite deposits have the potential to positively impact the annual production profile at Madsen1.
The potential for multiple high grade gold discoveries and the infrastructure to turn those discoveries into mineable deposits in a short timeline has attracted a highly passionate, skilled and experienced team. Our Board, Management, and Technical team all have extensive experience in gold exploration and mining all over the world. Perhaps more significantly, they have deep roots in Red Lake – and a rich and intimate knowledge acquired during their years mining and exploring in the area.
pure gold is a true growth company.
Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the Madsen Gold Project in Red Lake, Ontario. And to become Canada’s next iconic gold company.
Pure Gold. Dream Big.
More than 29 million ounces of high grade gold have been mined in the legendary Red Lake district of northwestern Ontario, making this one of the largest gold producing districts in Canada.
In a world of low margin ounces from increasingly unpredictable jurisdictions, this district continues to produce some of the highest grade and highest margin gold ounces in the world.
That’s why Pure Gold is 100% focused on the goal of developing Ontario’s next gold mine in the Red Lake district.
- See Pure Gold Mining Inc. Management’s Discussion & Analysis For the six month’s ended September 30, 2018
- See News Release 18-13, Pure Gold Fully Funded to Rapidly Advance Madsen Through Feasibility Study and Permitting Updates, May 30, 2018