PURE GOLD MINING INC

Description

Founded in 2005, Pure Gold Mining Inc, formerly Laurentian Goldfields Ltd, is focused on the acquisition, exploration and development of mineral properties or interests in companies controlling mineral properties. The company is based in Canada and is expected to be world’s leading high-grade gold mines.  The company aims to develop a highly-profitable and long life gold mining business in the heart of Red Lake. The company’s shares are traded on the London Stock Exchange as LON: PUR since 2019.

The company’s current reserve and resources are high-grade ore body on which the company aims to build a multi-generational iconic gold mining company. It has a 0.5 million ounce Inferred Resource (1.9Mt at 7.7g/t gold) and 2.1 million ounce Indicated Resources (7.2Mt at 8.9 g/t gold). The company’s mines are located within the Red Lake Greenstone Belt (RLGB), which comprises 2.99Ga to 2.70Ga deformed and metamorphosed supracrustal rock intervening between three main granitoid batholiths, of the Archean Superior Province craton of the Canadian Shield. In this reserve, the gold deposits are classified as orogenic gold deposits and characterised with crustal scale fault structure.

The red lake gold mines in Canada is the high grade gold capital of the world and the company focuses to increase the size and scale of the high-grade gold system along its 7 km gold corridor. It has extracted more than 25 mn ounces of gold till date.  The company is also aiming to explore Canada’s Fort Knox mine, which has similar rocks, geology and timing as the red lake gold mine. The 8 Zone is the company’s high-grade zone, covering area of 7 km with high-grade gold intercepts such as 342.4g/t gold over 5.5 m and 466.0g/t gold over 4.3 m. The company has already drilled hole up-plunge that supports continuity of gold system between the mine and surface.