Pure Gold Mining announces that it has made significant progress towards operational readiness at its Madsen Gold Project in northwestern Ontario.
This progress occurs in conjunction with the ongoing exploration program and recently announced and significant resource expansion at the Madsen Mine, and in advance of a revised Preliminary Economic Assessment ("PEA") expected to be completed by the end of Q3 2017.1
The company has constructed, installed and commissioned key surface and underground infrastructure including water and air lines, underground electrical lines, mine air heater and ventilation, and power lines connecting grid power to the portal.
Moreover, it has commenced underground drilling in July with a total of 23 drill holes completed to date.
"Projects like Madsen are extremely rare and we are pleased with the significant progress and achievements to date, and excited about the opportunity to move it through its next phase of evolution. Our new high grade resource estimate is underpinned by a solid geological model based on 14,627 drill holes and 36 years of continuous historical production. This forms a solid foundation for growth, and a unique opportunity to concurrently advance the project towards a production decision. We have our owners team in place and we are excited to be underground moving the Madsen Gold Project forward," said Darin Labrenz, President and CEO of Pure Gold. "Additionally, the team has made new discoveries at the Russet South target area which will be included in a year-end resource update, quantifying resources from satellite deposits for the first time."