Drilling Intersects 8.9
m of 9.41 g/t Au & 34.15 g/t Ag at Lupita
Extension
THUNDER BAY, ON, Nov. 21, 2019 /CNW/ - PREMIER GOLD MINES
LIMITED (TSX:PG) (OTCPK: PIRGF) ("Premier", "the Company") is
pleased to announce an update on its 42,000m exploration and delineation core drilling
program at the Company's 100%-owned Mercedes Mine, located in the
State of Sonora, Mexico. The 2019
drilling campaign is currently focused on delineating new mineral
resources in the Lupita Extension area as well as confirming
potentially important discoveries at San
Martin and Neo (See Figure 1, Table 1). Highlights from
October drilling include:
- San Martin exploration
drilling expands high grade zone with:
-
- 1.4 m of 15.80 g/t Au &
69.00 g/t Ag (L19-457D)
- 4.6 m of 10.03 g/t Au &
57.65 g/t Ag (L19-496D)
- Ongoing delineation program at Lupita Extension -
highlights:
-
- 8.9 m of 9.41 g/t Au &
34.15 g/t Ag (L19-488D)
- 3.6 m of 7.96 g/t Au &
31.69 g/t Ag (L19-480D)
"Our Lupita Extension and San
Martin drill program has emerged as an important contributor
to the future of Mercedes," commented Stephen McGibbon,
Executive Vice-President. "With true widths approaching
3 m and grades well in excess of 2019
production grades, each new result is quickly adding to the value
of this operation."
|
Table 1 – Highlight
True Width Intercepts from San Martin and Lupita
Extension
|
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True
Width
m
|
Au g/t
|
Ag
g/t
|
LUPITA
EXTENSION
|
L19-461D
|
Lupita
Extension
|
144.0
|
148.2
|
4.2
|
4.0
|
4.07
|
35.41
|
L19-464D
|
Lupita
Extension
|
129.0
|
131.1
|
2.1
|
2.1
|
6.09
|
58.52
|
L19-466D
|
Lupita
Extension
|
148.2
|
152.6
|
4.4
|
4.3
|
3.33
|
38.80
|
L19-468D
|
Lupita
Extension
|
143.5
|
150.0
|
6.5
|
4.9
|
5.09
|
55.89
|
L19-474D
|
Lupita
Extension
|
180.0
|
182.2
|
2.2
|
1.9
|
3.47
|
36.50
|
L19-475D
|
Lupita
Extension
|
119.7
|
123.6
|
3.8
|
3.8
|
5.30
|
40.44
|
L19-478D
|
Lupita
Extension
|
144.7
|
151.5
|
6.8
|
5.5
|
3.23
|
63.71
|
L19-479D
|
Lupita
Extension
|
169.3
|
172.3
|
3.1
|
2.8
|
5.52
|
61.64
|
L19-480D
|
Lupita
Extension
|
136.3
|
139.8
|
3.6
|
3.6
|
7.96
|
31.69
|
L19-481D
|
Lupita
Extension
|
132.0
|
138.0
|
6.0
|
6.0
|
4.25
|
43.28
|
L19-482D
|
Lupita
Extension
|
203.6
|
206.0
|
2.4
|
2.4
|
3.18
|
36.80
|
L19-483D
|
Lupita
Extension
|
137.0
|
139.2
|
2.2
|
2.2
|
6.33
|
42.45
|
L19-486D
|
Lupita
Extension
|
112.3
|
115.8
|
3.5
|
3.0
|
8.40
|
36.49
|
L19-488D
|
Lupita
Extension
|
125.9
|
135.0
|
9.1
|
8.9
|
9.41
|
34.15
|
L19-490D
|
Lupita
Extension
|
112.1
|
116.8
|
4.7
|
1.8
|
6.93
|
22.56
|
L19-491D
|
Lupita
Extension
|
165.0
|
168.6
|
3.6
|
3.0
|
4.69
|
72.52
|
L19-492D
|
Lupita
Extension
|
162.5
|
164.9
|
2.3
|
2.1
|
9.91
|
80.70
|
L19-494D
|
Lupita
Extension
|
205.0
|
207.0
|
2.0
|
1.7
|
6.62
|
52.00
|
L19-495D
|
Lupita
Extension
|
198.8
|
201.3
|
2.6
|
2.5
|
10.78
|
55.90
|
L19-498D
|
Lupita
Extension
|
217.7
|
221.0
|
3.3
|
3.2
|
3.30
|
18.46
|
|
|
|
|
|
|
|
|
SAN
MARTIN
|
L19-457D
|
San
Martin
|
216.7
|
218.2
|
1.5
|
1.4
|
15.80
|
69.00
|
L19-496D
|
San
Martin
|
208.3
|
212.9
|
4.6
|
4.6
|
10.03
|
57.65
|
Lupita Extension
The Lupita discovery outcrop hosts a 3
m wide silicified vein of typical low-sulphidation
epithermal textures and diagnostic green quartz. The Lupita
Extension drill program was designed to expand the Lupita resource
to the west. After a successful Phase 1 program of 18 drill holes
with a 60 m spacing, Phase 2 started
in May 2019 on a 30 m grid, aiming to create indicated mineral
resource for the year end.
The Phase 2 drill program at Lupita Extension continues to
delineate high grade areas and successfully expand mineralization
300 m to the west, where it remains
open for expansion. The delineation program completed a total of 87
drillholes, of which 17 still have assays pending.
Based on drilling to-date, the average true width of Lupita
Extension is approximately 2.9 m
grading 5.56 g/t Au. Minimum mining widths in the Lupita area in
2020 are expected to be reduced from 4
m to 3 m, minimizing dilution
in future mining at Lupita Extension. Development to access the
Lupita Extension, which is displaying grades well in excess of the
current reserve grade at Mercedes, is planned for H1-2020.
San Martin
San Martin is a target located
600 m to the west of Lupita,
discovered with an intercept of 1.5
m of 5.56 g/t Au (L19-396D) in the first hole in
May 2019. Additional drilling (10
drillholes) suggest an average true width of approximately
3.2 m grading 6.95 g/t Au. The two
new intercepts recently drilled at San
Martin continue to expand high grade mineralization with
1.4 m of 15.80 g/t Au &
69.00 g/t Ag in L19-457D
and 4.6 m of 10.3 g/t Au &
57.65 g/t Ag in L19-496D.
Although these new results increase the high-grade discovery of
San Martin, management believes
the distribution and tenor of grade at San Martin may be similar to Lupita Extension.
More delineation is planned in 2020 with the intent to upgrade
mineralization to an Indicated mineral resource. Given a spacing of
less than 60 m of drilling at
San Martin during 2019, a portion
of the mineralization will warrant inclusion into mineral resources
at year end.
|
Table 2 - Collar
coordinates
|
UTM
|
Project
|
Hole
ID
|
North m
|
East m
|
Elevation m
|
Azimuth
|
Dip
|
Nad 27 zone
12
|
Mercedes
|
L19-457D
|
551064
|
3360034
|
1214
|
110
|
-68
|
Mercedes
|
L19-461D
|
551414
|
3360080
|
1251
|
172
|
-46
|
Mercedes
|
L19-464D
|
551459
|
3360068
|
1253
|
130
|
-64
|
Mercedes
|
L19-466D
|
551414
|
3360080
|
1251
|
172
|
-54
|
Mercedes
|
L19-468D
|
551457
|
3360065
|
1253
|
140
|
-75
|
Mercedes
|
L19-474D
|
551413
|
3360080
|
1251
|
178
|
-71
|
Mercedes
|
L19-475D
|
551457
|
3360068
|
1253
|
167
|
-50
|
Mercedes
|
L19-478D
|
551456
|
3360066
|
1253
|
176
|
-74
|
Mercedes
|
L19-479D
|
551413
|
3360079
|
1252
|
183
|
-63
|
Mercedes
|
L19-480D
|
551376
|
3359946
|
1305
|
079
|
-71
|
Mercedes
|
L19-481D
|
551455
|
3360066
|
1253
|
185
|
-60
|
Mercedes
|
L19-482D
|
551411
|
3360079
|
1251
|
198
|
-75
|
Mercedes
|
L19-483D
|
551504
|
3360075
|
1262
|
135
|
-63
|
Mercedes
|
L19-486D
|
551465
|
3359941
|
1303
|
029
|
-80
|
Mercedes
|
L19-488D
|
551503
|
3360074
|
1262
|
171
|
-52
|
Mercedes
|
L19-490D
|
551463
|
3359942
|
1303
|
290
|
-82
|
Mercedes
|
L19-491D
|
551473
|
3360117
|
1252
|
139
|
-71
|
Mercedes
|
L19-492D
|
551472
|
3360116
|
1251
|
162
|
-68
|
Mercedes
|
L19-494D
|
551447
|
3360144
|
1245
|
158
|
-72
|
Mercedes
|
L19-495D
|
551295
|
3360079
|
1247
|
135
|
-48
|
Mercedes
|
L19-496D
|
551050
|
3359978
|
1215
|
171
|
-76
|
Mercedes
|
L19-498D
|
551444
|
3360144
|
1245
|
184
|
-73
|
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. Premier remains
focused on creating a low-cost, mid-tier gold producer through its
two producing gold mines; South Arturo and Mercedes, and through
future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) where permitting
and development initiatives are ongoing and McCoy-Cove in
Nevada.
Julie-Anaïs Debreil, Ph.D., 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.
Mercedes assay results are from core samples sent to ALS Chemex, an
accredited mineral analysis laboratory in Lima (Peru)
or Vancouver (Canada), for preparation and analysis
utilizing both fire assay and ICP methods. For a complete
description of Mercedes's sample preparation, analytical methods
and QA/QC procedures refer to the technical report for the Mercedes
Mine dated April 18, 2018 (effective date December 31,
2017), entitled "Technical Report on the Mercedes Gold-Silver Mine,
Sonora State, 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 strategic plans, including
future operations, future work programs, capital expenditures,
discovery and production of minerals, price of gold and currency
exchange rates, mineral resource and mineral reserve estimates 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