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F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 19 TMACRESOURCES.COM BUILDING CANADA'S NEXT GOLD MINING DISTRICT the Klondike Gold Rush of 1898 where between 13 and 20 million ounces of placer gold were recovered. In recent years, over 7 million ounces of gold has been discov- ered (hardrock). The status of exploration on the properties range from grass roots to advanced-stage with over $25 million spent in the field to date. White Gold Corp. has outlined an exploration plan to further explore its mineral prospects. A 60,000-metre drill program is scheduled to take place over the next three years. Pure Gold Mining Inc. [PGM-TSXV] is concentrating its efforts on the potential for a new gold discovery in the prolific Red Lake district of northwest Ontario. To that end, the company has assembled and acquired 100% ownership of more than 45 km 2 of contiguous patented land in the region. The land package includes the Madsen Mine that has produced more than 2.5 million ounces of gold, making it the second largest historic gold producer in Red Lake. Madsen hosts an indicated resource of 928,000 ounces gold (2.24 million tonnes at 8.93 g/t gold), and an inferred resource of 297,000 ounces gold (0.79 million tonnes at 11.74 g/t gold). Only a portion of the 12-km gold trend has been explored using modern technology. Pure Gold's recent results from its 77,000-metre diamond drilling program, designed to expand the high-grade Austin and McVeigh gold resource and to test gold mineralization at Russet South and other satellite targets, has returned very encour - aging assays. Highlights include 11.9 g/t gold over 2.0 metres in hole PG16-254 (McVeigh); 13.5 g/t gold over 4.3 metres in hole PG16-278 (McVeigh), including 55.2 g/t gold over 1.0 metre; and 26.2 g/t gold over 2.7 metres in hole PG16-279 (Austin). Drilling within the McVeigh horizon has extended the strike length of mineral - ization southward. McEwen Mining Inc. [MUX-TSX] has two operating mines (El Gallo and San Jose), two permitting-stage projects (El Gallo Silver and Gold Bar) and an advanced exploration project (Los Azules). Chairman, Rob McEwen, owns 25% of the company and takes home $1 per year in salary. For Q3 2016, consolidated quarterly production was 36,496 gold equivalent ounces, comprised of 24,281 ounces gold and 916,168 ounces silver. For the three and nine months ended September 30, 2016, the company reported net income of $4.2 million or $0.01 per share and $25.5 million or $0.09 per share, respectively. Earnings from mining operations were $18.9 million and $57.7 million over the same periods. For the three and nine months ended September 30, 2016, McEwen Mining gen - erated $4.9 million and $24.4 million of net cash flow from operations, respectively. The company ended Q3 2016 with liquid assets