Listen to Darin Labrenz discuss prospects for Pure Gold Mining Inc
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Company Description:.
Pure Gold Mining Inc
owns the Red Lake Mine Project which comprises in excess of 4,600 hectares of
primarily patented mineral claims in the prolific Red Lake gold district of
Northwestern Ontario and hosts two significant former gold producers including
the RL Mine which had previous gold production of 2.5 million ozs. The PureGold
Red Lake Mine is Canada's next gold mine. Fully funded, the project is on
track to deliver near term gold production into a rising Canadian gold price
environment, with first production scheduled for late 2020. The orebody is
situated within a seven-kilometre-long gold system that is wide open for
expansion at depth and along strike, and multiple discoveries by the Company
suggest potential opportunities for near-term growth.
First production is
expected towards the end of 2020 before increasing to 66koz in 2021 through to
125koz in 2025.
Over 30% of the share
float is held by four gold visionaries that have distinguished themselves in
founding and operating multi-billion dollar gold mining companies. Eric Sprott
and Rob McEwen built multi-billion dollar companies Kirkland Lake Gold and
Goldcorp, respectively, through the discovery of new, high-grade multi-million
ounce deposits at the historical Fosterville, Macassa and Red Lake mines.
Number one and number three gold producers Newmont Goldcorp and AngloGold
Ashanti, are also key strategic shareholders.