VANCOUVER, British Columbia, July 05, 2019 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX.V: PGM; LSE: PUR) (the "Company" or "Pure Gold") reports that it has filed an amended technical report titled "Madsen Gold Project Technical Report Feasibility Study For The Madsen Deposit Red Lake, Ontario, Canada" effective February 5, 2019 and dated July 5, 2019 ("Amended Technical Report"), prepared by independent Qualified Persons led by JDS Energy & Mining Inc. ("JDS").
The Amended Technical Report has been prepared to correct deficiencies, identified by the British Columbia Securities Commission ("BCSC"), in the March 21, 2019 technical report. These deficiencies have been addressed and corrected in the Amended Technical Report and a copy will be filed on SEDAR at www.sedar.com and posted on the Company's website www.puregoldmining.ca.
The Amended Technical Report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101"), Companion Policy 43-101CP, and Form 43-101F1, as well as with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards For Mineral Resources and Reserves, Definitions and Guidelines" ("CIM Standards") adopted by the CIM Council on May 10, 2014.
The Amended Technical Report reflects a change to remove all references to a preliminary economic assessment for the Company’s Fork, Russet South and Wedge Deposits. This change does not impact the results of the Company’s feasibility study, probable reserves or mineral resources on its Madsen Gold Project.
The Qualified Persons who prepared the Technical Report are:
|Michael Makarenko, P.Eng.||JDS Energy & Mining Inc.||Mineral Reserve Estimate, Mining Methods|
|Michael Levy, P.E., P.Eng.||JDS Energy & Mining Inc.||Underground Geotechnical|
|Kelly McLeod, P. Eng.||JDS Energy & Mining Inc.||Metallurgy, Recovery Methods|
|Richard Boehnke, P.Eng.||JDS Energy & Mining Inc.||Infrastructure|
|Marc Jutras, P.Eng.||Ginto Consulting Inc.||Mineral Resource|
|Daniel Ruane, P.Eng.||Knight Piesold Ltd||TMF, Waste Rock Management|
|Dave Stone, P.Eng.||Minefill Services Ltd||Mine Backfill|
|Darcy Baker, P. Geo.||Equity Exploration Consultants Ltd.||Geology and Data Verification|
ABOUT PURE GOLD
Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the Madsen Gold Project in Red Lake, Ontario. And become Canada’s next iconic gold company.
ON BEHALF OF THE BOARD
Darin Labrenz, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.