Highlights include 22.56 g/t Au across 7.0
metres
THUNDER BAY,ON, Aug. 30, 2017
/CNW/ - Premier Gold Mines Limited (TSX-PG) is pleased to
provide an update on the 2017 drilling program at the Company's
100%-owned Hasaga Project in the Red
Lake gold mining district of Northwestern Ontario. The program is
targeting potential higher grade mineralization along the Hasaga
Porphyry trend at depth, proximal to historic results and includes
wedged holes from historic drill sites.
Selected Drill Hole Highlights include:
- HMP 161 with 1.21 g/t Au across 181.0 m from 998.0 m,
including 2.14 g/t Au across 19.0 m and 2.21 g/t Au across 18.0 m
down plunge from the Hasaga Porphyry open pit deposit
- HMP 162 with 9.55 g/t Au across 8.0 m from 799.0 m in a new
target west of the Hasaga Zone
- HMP 17-88-02-W1 with 3.38 g/t Au across 10.0 m from 977.0 m,
including 13.3 g/t Au across 2.0 m, and 3.55 g/t Au across 5.0 m
from 1083.0 m in a wedged hole in the C Zone underground
target
- HMP 17-88-02-W2 that grades 22.56 g/t across 7.0 m from
898.0 m including 125.0 g/t across 1.0 m
A comprehensive table of assay highlights from the 2017 Hasaga
Deep drill program is summarized in Table 1.
All abbreviations used in this press release are available by
following this link (click here).
The Hasaga Porphyry (See Figure 1) is host to the past-producing
Hasaga, Buffalo and Howie Mines and
is being evaluated for both lower grade, open-pit potential, as
well as higher grade mineralization that may occur at depth.
Premier considers Hasaga to have similar exploration potential to
other historic mining camps in Ontario, where gold resources have been
discovered at the site of past-producing mines. In January, Premier
confirmed the multi-million ounce potential of the shallower target
areas.
The 2017 program is primarily focused on testing the potential
for deeper higher grade mineralization in the Hasaga porphyry.
Historic drill holes with positive results, HRL-88-02, HRL-88-03
and HRL96-02 completed by earlier operators were never adequately
followed up. These historic results and the Premier high
grade intercept in hole HMP151 (see press release dated
March 1, 2017) may represent
mineralization characteristic of the C-Zone at the Hasaga Mine that
occurs down-plunge of the historic mined area. If the current
program can confirm lateral continuity and scale to the C-Zone
discovery, it may have the potential to become a bulk mineable
underground opportunity that would complement the open pit resource
delineated in the 2015-16 drill programs.
"The positive results of our 2017 program adds to the success of
our 2016 campaign, which confirmed a multi-million ounce resource
of near surface mineralization." commented Stephen McGibbon, Premier's Executive
Vice-President on the Company's C-Suite Blog
(http://www.premiergoldmines.com/news/c-suite-blog). "We continue
to extend mineralization at depth at C-Zone and towards the Buffalo
Zone (the "West Extension") in addition to confirming the
continuity of mineralization proximal to historic intercepts on the
property."
Based on these positive preliminary results from the two primary
target areas Premier plans to continue drilling during the
remainder of the year. One drill is currently active on the
Hasaga Property.
C-Zone Target Areas
The 2017 drilling on the C-Zone target has included the reaming
of historic holes in order to wedge other holes that may extend the
size of the C-Zone and better understand the distribution of
mineralization. The completion of two wedged holes from hole
17-88-02 confirmed the historical mineralization and extended high
grade that was intercepted in the previously released hole HMP151
with 54 m of 10.90 g/t Au, located 100 metres east along strike and
150 metres down dip. These results are highlighted in Figure
2.
West Extension Target
The West Extension Target area is a 1.6 kilometre southwest
extension between the C-Zone target and the Buffalo Zone to the
west. Holes HMP161 and HMP162 were 500 metre south west step-outs
along strike from the C-Zone, within the anticipated mineralized
Hasaga Deep horizon. Hole HMP161 intersected a broad 291
metre envelope of low grade (0.95 g/t Au) mineralization, which
included 19 metres of 2.14 g/t Au and 18 metres of 2.21 g/t
Au. Alteration is characterized by sericitization and
silicification of the host porphyry. Gold mineralization
occurs in association with minor sulphide-bearing sequences and
also as visible gold within common quartz veinlet arrays.
Reaming Historic Holes
The reaming of the historic holes has been proved to be
important in confirming the location of the mineralization with new
assay information and in fixing the position and trace of the upper
portion of the original drill hole by using more modern borehole
survey techniques.
Table 1: Updated
2017 assays for Hasaga Deep Drilling
|
|
|
Hole
ID
|
Coordinates(1)
(m)
|
Azimuth/Dip
|
Elevation
(m)
|
Section
|
Comment/
Zone
|
From
(m)
|
To
(m)
|
Intercept
(2)
(m)
|
Au
(g/t)
|
*HMP151
|
442172.1/5651660.0
|
323.7 /
-80.5
|
387.5
|
12100
|
VG
|
771.0
|
825.0
|
54.0
|
10.9
|
|
|
|
|
|
including
|
771.0
|
779.0
|
8.0
|
23.3
|
|
|
|
|
|
and
|
789.0
|
812.0
|
23.0
|
11.2
|
|
|
|
|
|
and
|
820.0
|
825.0
|
5.0
|
25.6
|
HMP153
|
441145.6/5651862.0
|
147.7 /
-81.0
|
385.7
|
11200
|
|
1064.0
|
1065.0
|
1.0
|
41.20
|
HMP156
|
441809.3/5651312.0
|
322.5
/-80
|
380.0
|
11650
|
VG
|
1047.0
|
1050.0
|
3.0
|
6.68
|
HMP157
|
441154.4/5651748
|
150.1 /
-78
|
380.0
|
11200
|
|
758.0
|
759.0
|
1.0
|
19.90
|
HMP159
|
441322.1/5651839.0
|
147.5 /
-80
|
380.4
|
11400
|
|
7.5
|
9.0
|
1.5
|
4.67
|
|
|
|
|
|
VG
|
826.0
|
828.0
|
2.0
|
4.88
|
|
|
|
|
|
|
921.0
|
923.0
|
2.0
|
5.00
|
HMP160
|
441718.3/5651253.0
|
330 / -80
|
380.0
|
11500
|
|
1291.0
|
1293.0
|
2.0
|
3.28
|
|
|
|
|
|
VG
|
1319.0
|
1322.0
|
3.0
|
3.72
|
HMP161
|
440664.5/5651647.0
|
151.5
/-80
|
385.6
|
10750
|
|
1031.0
|
1212.0
|
181.0
|
1.21
|
|
|
|
|
|
including
|
1033.0
|
1052.0
|
19.0
|
2.14
|
|
|
|
|
|
and
|
1077.0
|
1095.0
|
18.0
|
2.21
|
|
|
|
|
|
and
|
1105.0
|
1110.0
|
5.0
|
2.88
|
|
|
|
|
|
And;
VG
|
1211.0
|
1212.0
|
1.0
|
19.4
|
HMP162
|
440664.5/5651646.8
|
151.5/-62
|
386
|
|
VG
|
799.0
|
807.0
|
8.0
|
9.55
|
|
|
|
|
|
including
|
799.0
|
800.0
|
1.0
|
64.60
|
17-88-02w1
|
441546/5651183
|
330/-80
|
385
|
|
VG
|
977.0
|
987.0
|
10.0
|
3.38
|
|
|
|
|
|
including
|
985.0
|
987.0
|
2.0
|
13.30
|
|
|
|
|
|
VG
|
1083.0
|
1088.0
|
5.0
|
3.55
|
17-88-02w2
|
441546/5651183
|
330/-80
|
385
|
|
VG
|
881.0
|
886.0
|
5.0
|
3.36
|
|
|
|
|
|
VG
|
898.0
|
905.0
|
7.0
|
22.56
|
|
|
|
|
|
including
|
904.0
|
905.0
|
1.0
|
125.00
|
1) UTM NAD83, Zone 15
2) True widths are estimated to be 50 to 70% of core
length * Denotes previously released assays
|
|
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 gold producer and
respected exploration and development company with a high-quality
pipeline of precious metal projects in proven, accessible and safe
mining jurisdictions in Canada,
the United States, and
Mexico.
This Press Release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, statements about the completion of the
Financing, strategic plans, including future operations, future
work programs, capital expenditures, discovery and production of
minerals, price of gold and currency exchange rates, timing of
geological reports and corporate and technical objectives..
Forward-looking information is necessarily based upon a number of
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information,
including the risks inherent to the mining industry, adverse
economic and market developments and the risks identified in
Premier's annual information form under the heading "Risk Factors".
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof.
Premier disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE Premier Gold Mines Limited