Pure Gold Mining is pleased to announce results of an independent feasibility study on its 100-percent-owned Madsen gold project in the Red Lake mining district of Ontario, Canada.
Pure Gold Mining (TSXV:PGM, OTCMKTS:LRTNF) is pleased to announce results of an independent feasibility study on its 100-percent-owned Madsen gold project in the Red Lake mining district of Ontario, Canada. The feasibility study outlines a robust 12-year high grade, 800 tonne per day underground mining operation with low initial capital cost and strong financial performance.
As quoted in the press release:
“The Madsen-Red Lake orebody is an exceptional foundation on which to build a gold mining company. With access to existing infrastructure, a high grade reserve, and exceptional growth potential, Madsen is one of the outstanding gold deposits in Canada,” stated Darin Labrenz, President and CEO of Pure Gold. “The completed study outlines a long life high margin mine, with low initial capital requirements and a fast timeline to production. In addition, specific exploration targets and satellite resources not considered in the feasibility study suggest an opportunity for near-term growth to potentially further enhance the economics of the project. With the completion of the feasibility study being one of the last de-risking steps, we look forward to rapidly advancing Madsen-Red Lake to become Canada’s next gold mine.”