CALGARY — Vancouver-based Pure Gold Mining Inc. says it has poured the primary gold bar from ore mined at its PureGold Mine in Western Ontario.
It says the primary pour was completed on Tuesday, following the introduction of ore two weeks earlier to the processing mill at Purple Lake, about 535 kilometres northwest of Thunder Bay.
CEO Darin Labrenz says the pour represents the transition of the junior mining firm to “producer” standing.
He says the building of the mine, anticipated to price about $95 million when authorized in 2019, was completed on funds and on schedule.
The corporate says the PureGold mine employs over 200 individuals and the associated workforce is anticipated to common 350 throughout the 12-year part one mine operation.
The corporate says it can now give attention to optimizing operations on the mine whereas persevering with an exploration drilling program. It plans to supply steering for the 12 months after the primary quarter.
“With our first gold pour, we now have transitioned to producer, and delivered on our promise to construct Canada’s latest gold mine within the coronary heart of Purple Lake, Ont., on funds and on schedule,” stated Labrenz.
“To construct a mine at any time requires a whole staff effort comprised of devoted, pushed, and targeted people. To take action beneath the distinctive challenges of 2020 speaks to the standard and dedication of the complete staff.”
Pure Gold says its homeowners embody investor Eric Sprott with over 10 per cent of the inventory, South African gold producer, AngloGold Ashanti Ltd. with about 16 per cent, and American gold producer Newmont Corp.
© 2020 The Canadian Press