{"id":149924,"date":"2020-05-26T16:01:12","date_gmt":"2020-05-26T16:01:12","guid":{"rendered":"https:\/\/www.bnreport.com\/pure-gold-mining-poised-to-kick-off-exploration-drilling-while-it-continues-to-build-red-lake-mine-project-in-ontario\/"},"modified":"2020-05-26T16:01:12","modified_gmt":"2020-05-26T16:01:12","slug":"pure-gold-mining-poised-to-kick-off-exploration-drilling-while-it-continues-to-build-red-lake-mine-project-in-ontario","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/pure-gold-mining-poised-to-kick-off-exploration-drilling-while-it-continues-to-build-red-lake-mine-project-in-ontario\/","title":{"rendered":"Pure Gold Mining poised to kick off exploration drilling while it continues to build Red Lake mine project in Ontario"},"content":{"rendered":"<p>Pure Gold Mining Inc (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/CVE:PGM\/Pure-Gold-Mining,-Inc.\/\" rel=\"noreferrer noopener\" target=\"_blank\">CVE:PGM<\/a>) (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/CVE:PGM\/Pure-Gold-Mining,-Inc.\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:PUR<\/a>) said it has enough funds to kick off exploration drilling at its Red Lake gold mine development project in Ontario, as it revealed it had raised C$12.3 million from an exercise of share purchase warrants.<\/p>\n<p>The firm is currently building the mine \u2013 the highest-grade underground project in Canada.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.com\/companies\/news\/920039\/pure-gold-mining-launches-15m-non-brokered-private-placement-backed-by-well-known-canadian-investor-eric-sprott-920039.html\" rel=\"noreferrer noopener\" target=\"_blank\">READ: Pure Gold Mining launches $15M non-brokered private placement backed by well-known Canadian investor Eric Sprott<\/a><\/p>\n<p>&quot;With approximately $150 million available in funding, and $86 million remaining on capital expenditure to complete our mine construction, the company is in a uniquely solid financial position to be able to concurrently fund an aggressive exploration program,&quot; Pure Gold said in a statement.<\/p>\n<p>The exploration program is earmarked to begin on June 3 and will include drilling in a bid to expand resources in areas targeted for early production, as well as expanding high-grade discoveries at surface and at depth across the 47 square kilometre asset.<\/p>\n<p>&quot;Our mine has all the attributes of a company maker \u2013 location, grade, size, and transformative growth potential,&quot; Darin Labrenz, Pure Gold&#039;s chief executive said.<\/p>\n<p>&quot;The opportunity for value creation is tremendous, with near term cash flow delivered in a rising gold market, and a strong organic growth platform to build out our vision of a long-life growth company. Having only scratched the surface across our 7+ kilometre long high-grade gold system, we are taking measures to expedite our growth plan.&quot;<\/p>\n<p>The C$12.3 million was raised from the exercise of more than 14.4 million share purchase warrants with a strike price of C$0.85, representing all the warrants which would have otherwise expired on May 24 this year, the company noted.<\/p>\n<p>Coupled with the closing of the recently announced placing,<a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/920400\/pure-gold-mining-poised-to-kick-off-exploration-drilling-while-it-continues-to-build-red-lake-mine-project-in-ontario-920400.html\" rel=\"noreferrer noopener\" target=\"_blank\">Read More \u2013 Source<\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/webfiles.thecse.com\/PRO_LOGO_P_COLOUR.png?sYToe11NLbcXiyGkVa5syF9WB04cy98G\"\/><\/p>\n<h5><a href=\"https:\/\/www.proactiveinvestors.co.uk\/\" rel=\"noreferrer noopener\" target=\"_blank\">Proactiveinvestors<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pure Gold Mining Inc (CVE:PGM) (LON:PUR) said it has enough funds to kick off exploration drilling a..<\/p>\n","protected":false},"author":1,"featured_media":149925,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-149924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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