Pure Gold Mining (PGM-V) March 16, '15 is pleased to announce it has intersected high-grade gold mineralization from the Beta Target, a second geologic structure tested at its ongoing Russet South drilling program, located on the Company's 100%-owned Madsen Gold Project in the prolific Red Lake gold district of northwest Ontario. The drill results are highlighted by 39.1 g/t gold over 2.9 metres, including 52.4 g/t gold over 0.7 metres from hole PG15-031 and 37.5 g/t gold over 1.7 metres, including 83.8 g/t gold over 0.7 metres, from hole PG15-032. Both drill intercepts occur approximately 10 to 35 metres below surface at Russet South. These reported holes targeted near-surface mineralization associated with a shear zone located south of the Alpha Target discovery (see news release dated March 2, 2015).
To date, approximately 1,755 metres of diamond drilling has been completed in ten drill holes at Russet South, testing multiple, parallel 'D2' shear zones identified during the 2014 exploration field program. The initial two drill holes, collared on the Alpha Target, discovered high-grade gold mineralization at the contact between one of these 'D2' shear zones and a re-folded mafic-ultramafic contact. Pure Gold has now drill-tested the Beta Target, a second, parallel shear zone, located approximately 200 metres south of the Alpha Target, and has intersected near-surface high-grade gold mineralization in holes PG15-031 and PG15-032. Assay results from the initial seven drill holes testing the Russet South area have been received, and are reported in Table 1.
Table 1 - Russet South Significant Assay Results(1)
| Hole ID | From (m) | | To (m) | | Length (m) | | Au (g/t) | | PG15-027(2) | 96.0 | | 99.5 | | 3.5 | | 9.5 | | Including: | 98.0 | | 99.5 | | 1.5 | | 18.8 | | PG15-028(2) | 75.0 | | 86.0 | | 11.0 | | 8.2 | | Including: | 77.0 | | 82.0 | | 5.0 | | 15.0 | | PG15-029 | 153.0 | | 154.0 | | 1.0 | | 1.0 | | PG15-030 | 47.3 | | 49.0 | | 1.7 | | 1.9 | | PG15-031 | 13.2 | | 16.1 | | 2.9 | | 39.1 | | Including: | 13.2 | | 14.9 | | 1.7 | | 34.4 | | And: | 14.9 | | 15.4 | | 0.5 | | 36.2 | | And: | 15.4 | | 16.1 | | 0.7 | | 52.4 | | PG15-032 | 47.3 | | 49.0 | | 1.7 | | 37.5 | | Including: | 47.3 | | 48 | | 0.7 | | 83.8 | | PG15-033 | 45.0 | | 47.0 | | 2.0 | | 3.4 | | 59.0 | | 61.0 | | 2.0 | | 4.9 |
Assay composites were calculated using uncut assays and are reported as drilled widths and interpreted to vary between 70% to 100% of true widths. Originally reported in Pure Gold news release dated March 2, 2015 "We're very excited by the drilling results to date from Russet South," stated Darin Labrenz, President and CEO of Pure Gold. "Drill testing at the Alpha and Beta Targets has discovered high-grade gold mineralization hosted in parallel 'D2' shear zones proximal to a re-folded ultramafic contact. Our plans include further drill testing of the strike and down-dip potential of the Alpha and Beta Targets, and drill testing several other 'D2' geologic structures identified at Russet South during our 2014 field program."
Drill holes PG15-031 through PG15-033 targeted mineralization associated with the Beta Target, and all three holes intersected visible gold associated with a 'D2' shear striking parallel to, and south of, the 'D2' Alpha Target discovery. Drill Holes PG15-029 and PG15-030 were designed to test the Alpha Target shear northwest of the re-folded mafic-ultramafic contact, approximately 80 metres northwest of the high grade mineralization that was intersected in the initial two discovery holes. These holes successfully intersected the Alpha structure, and returned anomalous gold on the same structure. Pure Gold intends to follow up on the initial discovery with further delineation of the Alpha structure, and towards the mafic-ultramafic contact.
The Company is conducting an ongoing 5,000 metre winter drilling program, specifically designed to test prospective geologic structures in the Russet South and Fork Zone areas, with the goal of discovering new zones of near-surface, high-grade gold mineralization. Drilling at Russet South will continue to test the Alpha and Beta Targets and several other identified 'D2' geologic structures at Russet South. Over the past year the company has, in part, focused its exploration efforts at Russet South, which has included more detailed structural and alteration mapping, soil and rock geochemical sampling, and geologic modeling. This exploration program has further delineated a zone of intense shearing and quartz-carbonate-biotite alteration penetrating the hinge of a folded mafic-ultramafic contact, a geologic setting analogous to other high-grade deposits in the Red Lake gold district.
For a drill map showing Russet South drill locations, please click here: http://www.puregoldmining.ca/sites/default/files/Nr1506drillmap.pdf
For a cross-section showing results from this release, please click here: http://www.puregoldmining.ca/sites/default/files/NR1506drillsection.pdf
QA/QC and Core Sampling Protocols
Check samples were submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, rotary split off 1kg, and pulverize the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30 gram fire assay and AAS finish (code Au-AA23). Samples returning >5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are re-analyzed by a 1kg screen fire assay with screen to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize while assaying of entire oversize fraction (code Au-SCR21). Control samples (accredited standards and blanks) were inserted on a regular basis.
Qualified Persons
Darren O'Brien, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
ABOUT PURE GOLD
Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the next multi-million-ounce gold discovery at the Madsen Gold Project in Red Lake, Ontario. And become Canada's next iconic gold company.
Additional information about the Company and its activities may be found on the Company's website at www.puregoldmining.ca and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Darin Labrenz, President & CEO
Investor inquiries:
Blaine Monaghan
604-801-5020
info@puregoldmining.ca |
