SAN FRANCISCO, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Gold mining stocks have done quite well in recent months. But companies that have recently found bonanza-grade gold have upside potential above and beyond that of their peers.
Company mentioned: Pure Gold Mining Inc. (PGM:TSX.V)
Pure Gold is a Canadian company that is "100% focused on the goal of developing Canada's next gold mine in the Red Lake district of northern Ontario." The Red Lake district is one of the premier gold-producing areas of Canada, with over 29 million ounces of gold being mined there to date.
The PGM team published a feasibility study in February that outlined profitable prospects for the Madsen Red Lake Gold Project. And that study assumed a gold price of US$1,275 per ounce!
From the press release: "This first round of results continues to demonstrate the continuity of our geological model and has reinforced the high-grade nature of both the Wedge deposit and the broader Madsen gold system as a whole," stated Darin Labrenz, President and CEO of Pure Gold.
Labrenz goes on to say how this discovery has been established as part of a related system that is five kilometers in length.
From the release: "The resources at Wedge form a part of a series of genetically and geometrically related high-grade gold zones that span a five-kilometer structural corridor from Madsen to Wedge, with expansive gaps along strike and down plunge that remain highly prospective for additional resource growth."
Continue reading this article: Recent Bonanza-Grade Gold Intercepts Mean These Companies Could Explode Higher Very Soon
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DISCLOSURE:
This article was written by Brian Nibley for Gold Stock Bull. Gold Stock Bull holds the companies mentioned in the GSB model portfolio/watch list and Jason Hamlin also owns shares. Brian Nibley does not own shares of the companies mentioned.
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The full disclosure is provided at the article's end: Recent Bonanza-Grade Gold Intercepts Mean These Companies Could Explode Higher Very Soon