Vancouver-based Pure Gold Mining has won the Developer of the Year Award from the Northwestern Ontario Prospectors Association for its Madsen gold project 16 kilometres west of Red Lake.
In 2017, Pure Gold achieved several major milestones for the Madsen Project including the completion of over 150,000 metres of drilling and an updated mineral resource reporting 1.6 million oz. of gold grading 8.9 g/t in the indicated category and an inferred resource of 178,000 oz. grading 9.4 g/t at a cut-off grade of 4 g/t.
The company also reopened and reconditioned the Madsen underground ramp, installed new ground support, a water line, mine air heating and ventilation and communication infrastructure.
A preliminary economic assessment (PEA) was completed in September 2017 and a definitive feasibility study initiated in December 2017 is scheduled for completion in Q4 this year.
