(Including 67.0 metres of 3.66 g/t Au in
HMP136)
THUNDER BAY, ON, Sept. 19, 2016 /CNW/ - Premier Gold Mines
Limited (TSX-PG) is pleased to provide an update of assays from
the summer surface drilling program on the Company's 100%-owned
Hasaga Project (Buffalo target) in the Red Lake gold mining district of Northwestern Ontario. These exceptional
results support Premier's confidence in continued exploration at
the Buffalo target in 2016.
The Hasaga Property is Premier's largest exploration program
being conducted in Canada in 2016.
The 50,000 metre drilling campaign and $7.0
million overall project budget comes on the heels of more
than 60,000 metres of drilling that was conducted in 2015. To date,
some 45,000 metres of drilling has been completed in 2016.
Highlights from the Buffalo target area include the
following:
- HMP127 intersected 69.0m of 1.80 g/t Au beginning at 126.0m,
including 3.0m of 25.59 g/t Au beginning at 192.0m.
- HMP128 intersected 37.0m of 2.29 g/t Au beginning at 77.0m,
including 3.0m of 11.46 g/t Au beginning at 90.0m.
- HMP132 intersected 31.0m of 2.99 g/t Au beginning at 156.0m,
including 4.0m of 7.98 g/t Au beginning at 158.0m and 4.0m of 7.18
g/t Au beginning at 173.0m.
- HMP136 intersected 67.0m of 3.66 g/t Au beginning at 170.0m,
including 20.0m of 7.18 g/t Au beginning at 199.0m.
All abbreviations used in this press release are available by
following this link (click here).
The Hasaga Property is host to the past-producing Hasaga,
Buffalo and Gold Shore Mines and is being evaluated for both lower
grade open-pit mineable potential as well as higher grade
mineralization that may occur at depth (See
Figures 1 and 2). Premier regards the Hasaga Property
as having exploration potential similar to the company's Hardrock
Project, where a multi-million ounce gold resource exists at the
site of a past-producing underground mine. Open pit mining has not
made a significant contribution to the Red Lake area's past production. Premier
believes this is an opportunity that has largely been
overlooked.
"The initial results at Buffalo have given us confidence to
extent the drilling program" commented Stephen McGibbon, Executive Vice-President at
Premier Gold Mines on the Company's C-Suite Blog
(http://www.premiergoldmines.com/news/c-suite-blog). "A
limited number of well-placed holes will help validate the historic
drilling results and further assess exploration potential at this
target area."
Table 1 provides a comprehensive summary of highlight results
from additional holes drilled at Buffalo.
Table 1: Highlight
Results of Buffalo Target Area
|
Hole ID
|
Coordinates(1)
(m)
|
Azimuth/Dip
|
Elevation
(m)
|
Section
|
From
(m)
|
To
(m)
|
Intercept
(2)
(m)
|
Au
(g/t)
|
Intercept(2)
(ft)
|
Au
(oz/t)
|
Comment/
Zone
|
HMP127
|
439759E/5650917N
|
160 / -60
|
367
|
9600
|
32.0
|
34.0
|
2.0
|
17.23
|
6.6
|
0.50
|
VG
|
|
|
|
|
|
126.0
|
195.0
|
69.0
|
1.80
|
226.3
|
0.05
|
|
|
|
|
|
|
141.0
|
143.0
|
2.0
|
5.69
|
6.6
|
0.17
|
Including;
VG
|
|
|
|
|
|
192.0
|
195.0
|
3.0
|
25.59
|
9.8
|
0.75
|
and; VG
|
|
|
|
|
|
211.0
|
218.0
|
7.0
|
1.50
|
23.0
|
0.04
|
|
HMP128
|
439751E/5650888N
|
150 / -60
|
363
|
9600
|
77.0
|
114.0
|
37.0
|
2.29
|
121.4
|
0.07
|
|
|
|
|
|
|
90.0
|
93.0
|
3.0
|
11.46
|
9.8
|
0.33
|
Including;
VG
|
|
|
|
|
|
104.0
|
114.0
|
10.0
|
3.16
|
32.8
|
0.09
|
and; VG
|
|
|
|
|
|
141.0
|
151.0
|
10.0
|
1.91
|
32.8
|
0.06
|
|
|
|
|
|
|
163.0
|
169.0
|
6.0
|
1.19
|
19.7
|
0.03
|
|
HMP129
|
439782E/5650838N
|
150 / -60
|
362
|
9600
|
14.0
|
21.0
|
7.0
|
1.55
|
23.0
|
0.05
|
VG
|
|
|
|
|
|
49.0
|
62.0
|
13.0
|
0.87
|
42.6
|
0.03
|
|
HMP130
|
439796E/5650808N
|
156 / -60
|
364
|
9600
|
23.0
|
26.0
|
3.0
|
4.51
|
9.8
|
0.13
|
VG
|
|
|
|
|
|
35.0
|
52.0
|
17.0
|
0.52
|
55.8
|
0.02
|
|
HMP131
|
439848E/5650928E
|
149 / -50
|
369
|
9800
|
93.0
|
103.0
|
10.0
|
0.59
|
32.8
|
0.02
|
|
|
|
|
|
|
123.0
|
125.0
|
2.0
|
2.23
|
6.6
|
0.07
|
|
|
|
|
|
|
153.0
|
158.0
|
5.0
|
6.38
|
16.4
|
0.19
|
VG
|
HMP132
|
439867E/5650888N
|
149 / -51
|
365
|
9800
|
120.0
|
137.0
|
17.0
|
0.56
|
55.8
|
0.02
|
|
|
|
|
|
|
156.0
|
187.0
|
31.0
|
2.99
|
101.7
|
0.09
|
|
|
|
|
|
|
158.0
|
162.0
|
4.0
|
7.98
|
13.1
|
0.23
|
Including;
VG
|
|
|
|
|
|
173.0
|
177.0
|
4.0
|
7.18
|
13.1
|
0.21
|
and; VG
|
HMP133
|
439897E/5650853N
|
152 / -50
|
364
|
9800
|
16.0
|
23.0
|
7.0
|
0.67
|
23.0
|
0.02
|
|
|
|
|
|
|
61.0
|
84.0
|
23.0
|
0.66
|
75.4
|
0.02
|
|
HMP136
|
439790E/5650933N
|
152 / -50
|
358
|
9650
|
73.0
|
80.0
|
7.0
|
2.90
|
23.0
|
0.08
|
|
|
|
|
|
|
170.0
|
237.0
|
67.0
|
3.66
|
219.8
|
0.11
|
|
|
|
|
|
|
186.0
|
191.0
|
5.0
|
6.19
|
16.4
|
0.18
|
Including;
VG
|
|
|
|
|
|
199.0
|
219.0
|
20.0
|
7.38
|
65.6
|
0.22
|
and; VG
|
|
|
|
|
|
255.0
|
262.0
|
7.0
|
1.24
|
23.0
|
0.04
|
|
HMP137
|
439808E/5650910N
|
152 / -37
|
363
|
9650
|
60.0
|
72.0
|
12.0
|
1.65
|
39.4
|
0.05
|
VG
|
|
|
|
|
|
70.0
|
72.0
|
2.0
|
5.28
|
6.6
|
0.15
|
Including;
EOH@72m,drift
|
1) UTM NAD83, Zone 15
2) True widths are estimated to be 35 to 65% of core
length
|
|
|
|
|
|
|
Buffalo Mine
Area
The intercepts listed for HMP127 through HMP137 (See Figures 1 & 2) represent new results
that have tested the historic Buffalo Mine area. The Buffalo Mine
target is characterized by widespread persistent mineralization
associated with silicification, weakly disseminated sulphides and
variably distributed quartz veinlets containing tourmaline and
visible gold within the Dome Stock that begins at surface and
remains open at depth. Drilling conducted at this target has
validated historic results and helped provide better understanding
of the internal variability of higher grade material and its
continuity. Figure 2 is a close up of the Buffalo Mine showing
the new high grade intercepts drilled mainly below the old mine
workings. The geology on Figure 2 is simplified and does not
show the complexity of mafic volcanics-granodiorite contact.
During 1980-82, Wilanour Resources completed 6,600 metres of
surface drilling at Buffalo and processed a bulk sample consisting
of some 29,000 tonnes (31,986 short tons) of mineralization from an
open pit and underground ramp that graded 2.19 g/t Au (0.064 oz/ton
Au). Premier believes the evaluation of this target area
remains incomplete.
Hasaga Trend
Drilling conducted west of the Hasaga Mine during 2016 sought to
outline a strong trend of mineralization occurring proximal to the
regional unconformity that separates Balmer-aged rocks from those
of the Confederation assemblage. This unconformity is
recognized throughout the Red Lake
camp as an important marker for areas having higher prospectivity
and potential for discovery of important mineralization. The
unconformity extends southwest to the Madsen Mine area and
beyond.
Drilling on lands acquired in late 2015, has successfully traced
the Hasaga Porphyry Zone some 600 metres west onto the Buffalo
property and recent wide spaced drilling has intersected anomalous
mineralization and alteration that extends the Hasaga Horizon west
to the Buffalo Zone. The Hasaga Zone now extends more than
2.5 kilometres from the workings of the past-producing Hasaga Mine
and remains open depth. Premier regards the potential for
higher grade mineralization (possibly amenable to bulk mineable
underground methods) as a primary target that remains to be tested
along this historic trend.
Table 2 summarizes highlights of the final series of drillholes
(HMP120 to HMP126) that were completed to test the western extent
of mineralization along the Hasaga Porphyry zone. These
results confirm that while the grades and width are diminished
versus those drilled further to the east, mineralization still
appears open.
Table 2: Highlights
of Western Extension Holes on Hasaga Porphyry Target.
|
Hole ID
|
Coordinates(1)
(m)
|
Azimuth/Dip
|
Elevation
(m)
|
Section
|
From
(m)
|
To
(m)
|
Intercept
(2)
(m)
|
Au
(g/t)
|
Intercept(2)
(ft)
|
Au
(oz/t)
|
Comment/
Zone
|
HMP124
|
440652E/5651134N
|
154 / -35
|
380
|
10500
|
323.0
|
331.0
|
8.0
|
1.72
|
26.2
|
0.05
|
Hasaga
Zone
|
|
|
|
|
|
350.0
|
351.0
|
1.0
|
3.97
|
3.3
|
0.12
|
Hasaga
Zone
|
HMP126
|
440713E/5651249N
|
150 / -35
|
380
|
10600
|
42.0
|
47.0
|
5.0
|
2.32
|
16.4
|
0.07
|
Hasaga
Zone
|
1) UTM NAD83, Zone 15
2) True widths are estimated to be 80 to 90% of core
length
|
|
|
|
|
|
Premier has completed its program on the western extension of
the Hasaga Porphyry target for 2016. Future drilling will likely
test the depth potential in areas where mineralization was most
robust.
Stephen McGibbon, P. Geo., is the
Qualified Person for the information contained in this press
release and is a Qualified Person within the meaning of National
Instrument 43-101. Assay results are from core samples sent
to either Accurassay Laboratories or Activation Labs, both
accredited mineral analysis laboratories in Thunder Bay, Ontario, for preparation and
analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a respected production,
exploration and development company with a high-quality pipeline of
gold projects focused in proven, safe and accessible mining
jurisdictions in Canada,
the United States and
Mexico. Anticipated gold production in excess of 100,000
ounces during the final quarter of 2016 will come its South Arturo
Mine in Nevada and the recently
announced purchase of the Mercedes Mine (expected to close in early
October) in Mexico.
The statements made in this Press Release may
contain forward-looking statements that may involve a number of
risks and uncertainties. Actual events or results could
differ materially from the Company's expectations and
projections.
SOURCE Premier Gold Mines Limited