Mine developer aiming for commercial production at Madsen Mine project in 2020
Six years ago, as board members at Pure Gold Mining were going through a checklist spelling out the ideal attributes of a potential exploration property, they quickly realized the past-producing Red Lake Madsen Mine had it all.
“We wanted to be in a good, stable jurisdiction, we wanted a project that was high-grade, and we wanted access to infrastructure,” said Darin Labrenz, president, CEO and director at Pure Gold. “So, something that we could not only explore, but ultimately build.”
In operation between 1938 and 1974, Madsen is the second largest producer in the Red Lake camp, consecutively producing 2.5 million ounces of gold over 36 years.
But Pure Gold believes the property hasn’t received the exploration attention it deserves, and over the last few years the company has undertaken extensive drilling, making several discoveries that Labrenz said has “really, really opened up the project.”
What sets the property apart is its unique geology, Labrenz said. “We’re in the right rocks, we’ve got the right structure, but geologically, it was seen as a little bit different than the (Newmont Goldcorp’s) Red Lake Mine,” he said. “It’s a different metamorphic grade, so it’s effectively been cooked up, and some of the obvious characteristics you don’t see at Madsen.”