PureGold Reports First Quarter 2022 Financial and Operating Results – Benzinga – Press Release


VANCOUVER, British Columbia, May 17, 2022 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. PGMPUR)) (“PureGold” or the “Company”), reports its first quarter 2022 summary financial and operating results. The Company’s interim financial statements and related management’s discussion and analysis for the three months ended March 31, 2022, will be available for download on SEDAR and on the Company’s website. All amounts are expressed in Canadian dollars (“$”), unless otherwise noted).

A summary of the highlights for the three months ended March 31, 2022, and subsequent to date for the Company and its 100% owned PureGold Mine Project (“PureGold Mine“) or the “Project“) are as follows:

Gold Production

  • Gold production for the quarter ended March 31, 2022 was 6,653 ounces
  • Gold sold for the quarter ended March 31, 2022 was 7,876 ounces

Processing

  • For the first quarter ended March 31, 2022, the PureGold Mine processed a total of 50,892 tonnes of ore, or an average of 570 tpd, at an average head grade of 4.27 grams of gold per tonne of ore (“g/t Au“) and achieved an average recovery of 95.2%.
  • The main operating units in the mill and process facility are performing as expected. During the quarter, the Company completed upgrades for the gravity circuit which is expected to increase gravity recovery by 10-15% and overall gold recoveries by 1-2% to 96-97% from 95%. The upgrades are also expected to reduce operating costs by reducing cyanide dosages (consumption) in leaching, carbon in carbon-in-pulp (“CIP“), and metabisulfite/copper sulfate in the detox circuit.
  • The regulatory process to increase the permitted mill capacity to 1,000 tpd is well advanced, and expected to be completed in Q4 2022.

Mining

  • For the first quarter ended March 31, 2022, a total of 44,716 tonnes of ore were mined from the PureGold Mine, or an average of 497 tpd.
  • During Q1 2022, several new initiatives were launched which are expected to improve stope access and ultimately result in increased ore throughput, improved…