Pure Gold increases quarterly gold output as production ramps up
(Kitco News) - Pure Gold Mining (TSX-V: PGM) today reported that in Q2 2021, the company produced 6,261 ounces of gold at its high-grade PureGold mine in Red Lake, Ontario, which is a 46% increase compared to the first quarter.
The company said that an average daily ramp development rate for the Main Ramp of 5.2 metres per day for the second quarter is a new quarterly record and a 53% increase compared to the first quarter.
Average head grade of 5.8 g/t Au for the high-grade portion of the mill feed, which includes all stopes mined plus high-grade development ore, is a 51% increase compared to the first quarter and in line with expectations for the period.
Pure Gold said that as the company continues to open up the mine and accelerate the development of its two key haulage ways, it sees consistent quarter-over-quarter improvements in all key operating metrics and, importantly, excellent grade reconciliation to the company's mineral reserves.
President and CEO Darin Labrenz added, "With two active ramps now mining ore, an additional dedicated crew to focus on Main Ramp development beginning in July, and nearly 30,000 tonnes of longhole stopes developed in front of us, we are entering the third quarter in our strongest position ever."
The company noted that commercial production will be declared on the first day of the calendar month following the achievement of certain criteria, reviewed monthly, including ore throughput and gold production levels achieving a pre-determined percentage of design capacity. Inaugural production and cost guidance will follow shortly after a positive commercial production decision, Pure Gold said.
Pure Gold is a growth company, located in the very heart of Red Lake, Canada. The company plans to expand organically and develop Pure Gold's multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.