Welcome to the
heart of Red Lake.
Canada's Fort Knox.
44 weeks to Production.
(We'll pour gold before Christmas.)
Welcome to Canada’s next gold mine.
At 9 grams per tonne, this is one of the highest-grade gold mines on the planet. In fact, it’s in the top 8th percentile.1
Phase One will produce one million ounces of high-grade gold. At an all-in cost of less than USD $800 per ounce. Delivering a 51% IRR. And over 800 million dollars of pre-tax free cash flow over Phase One.2,4
Phase One construction and operational readiness is on schedule and on plan. The mill will start up on schedule. Ore has been mined and stockpiled above-ground as mill feed. Recruiting and hiring 300 miners and technical staff, most of whom live right next door in town, is well underway.
Strategy for Phase One. Our motivation for developing Phase One is simple: to create a pre-tax cash flow stream of over 800 million dollars which will fund (without dilution) robust drilling and discovery work, focused along the highly prospective 7-kilometre-long PureGold Trend.2 Our strategy is to exponentially increase our high-grade gold resource and reserve numbers, thereby transforming PureGold into Canada’s next iconic gold company.
Phase Two. Our goal for the next Phase of mining is to extract high-grade ounces of gold already drilled off in the immediate area of the Phase One mine. Our strategy is to utilize the existing PureGold Red Lake infrastructure and mill in order to capture potentially the higher-profit margins that result from cost efficiencies and economies of scale.
PureGold. Bringing gold to life in 2020.
By the Numbers.
Our Phase One Gold Mine.
Here’s a snapshot of key after-tax metrics for the Phase One mine, with gold at USD $1,500/oz.1,2,3
Low Hanging Fruit. We sliced off this small section of our 100%-owned, 47-km2 property because it’s the lowest hanging fruit – the first million ounces of the high-grade, high-margin gold deposits which have made Red Lake one of the largest gold-producing districts on the planet.
PureGold. Bringing high-grade gold to life.
Dream No Small Dreams.
(We opened the door to Fort Knox.)
Simply put, PureGold is a growth company.
Our objective is to achieve transformative growth, in both size and scale, and become Canada’s next large-scale, iconic gold producer.
Our strategy is to continue our disciplined and highly successful exploration and discovery program across our 100%-owned, 47-km2 property located in the heart of the iconic Red Lake gold district, a property which is the district’s #2 gold producer. With new discoveries at surface, and discoveries of high-grade intercepts nearly a kilometre below our Phase One mine, this is Canada’s Fort Knox.
Tip of the Iceberg. “I believe that Phase One is barely the tip of the iceberg,” says Dr. Mark O’Dea. “We own 7-kilometres of the most fertile geology in the Red Lake camp. We have the same rocks, structure, geology and grade, as the Newmont Red Lake mine just 10 kilometres away. It’s produced 25 million ounces of gold. And, I believe, our continuing discoveries of high grade gold along our trend, will prove that the PureGold Red Lake mine is in the same league.”
PureGold. The Science of Discovery.
- source S&P Global Intelligence, October 2018
- Based on feasibility sensitivity at US$1500/oz and US$1=C$1.33. See the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen, Red Lake, Ontario Canada” effective February 5, 2019, dated July 5, 2019 for further information, available at www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com.
- Based on Producing mines reserve grades, source S&P Global Intelligence, October 2018
- Probable Mineral Reserve of 3.5 million tonnes @ 9.0g/t gold