Pure Gold Mining Output Hit New Record in July

SEATTLE (Scrap Monster): Pure Gold Mining Inc. announced that it has reached a new monthly production record of around 3,730 ounces of gold mined in the month of July this year, with mill recoveries averaging at 96% during the month. The company had achieved key milestones in ramping up of the PureGold Mine during the year, which had recently declared commercial production.

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The company expects gold production to range between 27,000 ounces and 32,000 ounces in the second half of 2021. The Q4 cash costs are expected to range between $1,025 and $1,125 per ounce, with all-in sustaining costs (AISC) of between $1,600 and $1,750 per ounce. The dynamics of increasing production and falling costs is expected to continue throughout 2022. Pure Gold Mining announced that production at its Red Lake operations is likely to increase next year.

Higher grades and throughput, coupled with sustaining capital investments are likely to deliver significantly lower cash costs and AISC. Incidentally, daily throughput averaged 703 tpd during the month.

Commenting on the excellent results, Darin Labrenz, CEO, Pure Gold Mining said that the company is proud of its consistent progress. It hopes to push throughput beyond 800 tpd on a sustainable basis by end-2021.