Pure Gold Mining is drilling new targets at its Madsen Gold Project in Red Lake.
The company has a $4-million exploration program under way, which includes 9,000 metres of drilling.
The first phase is focused on near-surface high-grade mineralization along a 12-kilometre long trend, which includes the former Madsen Mine, Red Lake’s second largest past producer with more than 2.4 million ounces produced. The second phase will focus on targets along a 10-kilometre long ultramafic contact.
Pure Gold’s property stretches more than 50-square-kilometres in size and hosts two past-producing mines in the northwestern Ontario mining camp.
Four thousand metres and 12 holes have been completed to date. Assay results from the first three holes, including 14.6 grams per tonne of gold over 1.8 metres from one hole.
“The application of modern exploration techniques are already leading to an improved understanding of the geology, and delivering outstanding new targets at the Madsen Gold Project,” said company president-CEO Darin Labrenz in a release, who called its ultramafic contact which poses an “exciting new target.”
“We look forward to testing this target in the coming months when access will be facilitated by winter freeze-up.”