Pure Gold Mining Inc. has announced that commercial production has been achieved at the PureGold Mine, effective August 1, 2021.
Following a successful commissioning period, the PureGold mine, milling facilities, and other critical systems are now all operating in line with or rapidly approaching design capacity of 800 tonnes of ore per day on a sustainable basis, the company said.
In a statement, Darin Labrenz, president & CEO of PureGold, commented, “Commercial production is a significant milestone and marks the beginning of a very exciting growth phase for the Company. By combining stable gold production with the high-grade exploration potential that makes the PureGold Mine so unique, we are making significant progress toward our goal of unlocking the full potential of the PureGold Mine and becoming Canada’s next iconic gold producer.”
On July, 13 Pure Gold reported on a ‘milestone’ second quarter, which saw an uplift in gold production and increased ramp-up rates at its flagship development mine as it neaed ‘commercial’ production.
At the PureGold mine, 6,261 ounces of gold were produced in the three months to end-June 2021, up by 46% from the 4,291 ounces generated in the first quarter of the year, while throughput was 509 tonnes per day (tpd) for the quarter and 577 tpd in June alone.
The PureGold mine is poised to be the fourth highest-grade gold mine in Canada at 9 g/t and the 16th highest-grade gold mine globally. The company is developing the mine in a scalable, phased approach, and the first phase is set to produce 1 million ounces.
The first one million announces will generate over C$2.3 billion in revenue over the next decade, the company has said, and over C$1.2 billion in pre-tax free cash flow.
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