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Pure Gold Mining Inc. (TSXV:PGM) announced that it’s started a preliminary economic assessment (PEA) at its Ontario-based Madsen gold project. The company expects to complete the PEA in the second quarter of 2016.
Pure Gold Mining Inc. (TSXV:PGM) announced that it’s started a preliminary economic assessment (PEA) at its Ontario-based Madsen gold project. The company expects to complete the PEA in the second quarter of 2016.
As quoted in the press release:
The PEA will provide a base case assessment of near term development opportunities utilizing existing mining infrastructure, including the permitted mill and tailings facility, to develop the existing near-surface mineral resource. The objective of this study is to maximize the value of existing mine infrastructure while minimizing pre-production capital costs.
Darin Labrenz, president and CEO of Pure Gold, commented:
The Madsen Gold Project is a unique Canadian-based asset with a history of high-grade production, an in-situ high-grade gold resource, mining infrastructure, and permitted milling and tailings facilities. The completion of an assumed 500 tonnes per day base case development scenario will be a stepping stone as we target resource growth through our accelerated exploration program. Our team has been conducting scoping-level mine design using the existing mineral resource and are investigating a development scenario utilizing a dedicated haulage ramp.
Click here to read the full Pure Gold Mining Inc. (TSXV:PGM) press release.