Pure Gold adds ounces to Red Lake project: Vancouver junior miner seeks to bring Madsen Mine back to life.

Pure Gold Mining announced a 48 per cent increase in its mineral resource estimate at its Madsen Gold Project in the Red Lake mining district of northwestern Ontario.

In the first of two planned mineral resource updates, the Vancouver developer reports 1,648,000 indicated ounces of gold at the Madsen Mine and 178,000 inferred ounces of gold, encompassing its Austin, South Austin, 8 Zone, McVeigh and A3 areas.

The cut-off grade is 4 grams per tonne gold.

It's the first mineral resource update at Madsen since December 2009.

Another updated mineral resource for the entire gold property is coming in the fourth quarter when the results of the Russet South and the Fork Zone satellite deposits will be included.

A revised preliminary economic assessment is expected to be completed by fall, which will provide an assessment of near-term development opportunities.

The mine complex is located alongside Highway 618, just southwest of the Town of Red Lake.

The property is host to two former mines, including the Madsen Mine, which once produced 2.4 million ounces of gold. There's a fully permitted mill on site.

Company president-CEO Darin Labrenz called...