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Red Lake gold explorer widens the Wedge

Pure Gold drills off new high-grade gold target
Madsen Ramp rehab
Rehabilitation of the Madsen Ramp (Pure Gold Mining photo)

Pure Gold Mining is going further afield to track high-grade gold on its Madsen Gold Project near Red Lake.

The Vancouver exploration outfit reports that surface drilling continues to find more mineralization at its newly discovered Wedge Target at the former Madsen Mine property.

The company said it forms a southward extension of a mineral system that hosts the Madsen and Fork deposits over a corridor extending five kilometres along strike.

At Wedge, they’ve identified four mineralized zones spanning a one-kilometre strike length, from the surface to a depth of 300 metres. It appears open for expansion.

Step-out drilling on the north end of Wedge returned more high-grade gold results, including 22.5 grams per tonne (g/t) gold over 2.0 metres. Other drill holes yielded results of 9.8 g/t over 3.0 metres and 6.9 g/t over 5.0 metres.

With drilling still ongoing, the company is awaiting more assay results from nine drill holes.

“Our latest drilling clearly highlights the scale of the mineral system in place at Madsen,” said Pure Gold president-CEO Darin Labrenz in a news release.

“Mineralization in the Wedge Target is a continuation of the gold system that hosts the Madsen Mine and with over one kilometre of strike length, the Wedge Target compares favourably with the surface footprint of the Madsen Deposit. The presence of high-grade gold over a broad footprint and the continuity of mineralization established by recent drilling reinforces our conviction that the Wedge Target could develop into meaningful resources, underlining the growth opportunity and scalability of Madsen.”

The Madsen Gold Project is host to two significant past producing mines, including the Madsen Mine which produced 2.4 million ounces of gold.

To date, the company has tabulated an indicated resource of 1,744,000 ounces gold at 8.7 g/t gold (in 6.2 million tonnes) and an inferred resource of 296,000 ounces gold at 7.9 g/t gold in 1.2 million tonnes.

A feasibility study is underway with results expected in the fourth quarter of 2018 and the Madsen Gold Project is firmly on the path to becoming Ontario’s next gold mine.

In looking to discover new deposits, Pure Gold has budgeted to do 33,000 metres of exploration drilling for 2018, aimed at the Wedge Target and a deepening extension of the Russet South deposit The company plans to take a 7,200-tonne bulk sample shortly.