Previous results
included 50.0 m of 9.19 g/t
Au and 54.0 m of 10.94 g/t Au
THUNDER BAY, ON, Dec. 16, 2019 /CNW/ - PREMIER GOLD MINES
LIMITED ("Premier", "the Company") (TSX: PG)
(OTCPK: PIRGF) is pleased to announce plans to
re-establish exploration on its Red
Lake projects in 2020, including a renewed focus at the
Company's 100%-owned Hasaga Project. This program will continue to
test the expansion of the Hasaga "C Zone" and "D Zone" target
areas. The last drilling delineated significant high-grade
mineralization down plunge of the historic Howey and Hasaga Mines
that collectively produced more than 640,000 ounces of gold between
1930 and 1957.
Highlights from Premier's exploration campaigns up to late
2018 include:
- C Zone results include 50.0 m
of 9.19 g/t Au (HMP164), and 21.0
m of 12.03 g/t Au (HMP164-W3), 54.0 m of 10.94 g/t Au (HMP151) and
67.0 m of 4.02 g/t Au
(HMP176-W3)
- A near-surface mineral resource estimate was completed with
1.12M ounces gold Indicated and
0.63M ounces gold Inferred from
multiple optimized pit shells, suggesting the potential for future
open-pit mining
- A new discovery located 500 m
west of the C Zone with intercepts of 8.0
m of 9.55 g/t Au (HMP162) and 6.0 m of 13.67 g/t Au (HMP172)
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 Goldshore Mines and is being evaluated for both near
surface lower-grade for open-pit potential as well as at depth
higher-grade mineralization. Premier considers Hasaga to be the
most prospective undeveloped gold deposits in the entire
Red Lake camp.
"Our previous drilling campaigns have confirmed the substantial
potential of this property located in the heart of one of the
world's most respected high-grade gold camps. Numerous intercepts
host common visible gold and occur within attractive geometries"
commented Stephen McGibbon,
Premier's Executive Vice-President. "The C Zone deposit remains
open at depth and down plunge, and the 2017 discovery of the D Zone
suggests the opportunity to delineate a significant gold
deposit."
Past and future exploration are aiming to test the structure
that hosts the Howey and Hasaga Mines, and continuity of the
mineralization to the west. Premier's first hole of the 2017
campaign returned a high-grade intercept in hole HMP151
grading 54.0 m of 10.94 g/t Au with mineralization
characteristic of the Hasaga Mine. Follow-up drilling confirmed the
potential of the C Zone deposit, with intercepts including
50.0 m of 9.19 g/t Au
(HPM164), 21.0 m of 12.03 g/t
Au (HPM164-W3), and 67.0 m of
4.02 g/t Au (HPM173-W3). The deepest hole returned
4.0 m of 3.82 g/t Au (HMP17-88-03-W1), leaving the
deposit open at depth.
The C Zone deposit remains wide open for expansion toward the D
Zone, deposit found 500 m to the
west. The D Zone is a priority for exploration, with a potential
southwest extension of the C Zone deposit. HMP161 and HMP162 were
initial holes drilled 500 m along strike and intersected
respectively 181.0 m of
1.21 g/t Au including narrower higher-grade
intervals, and 8.0 m of 9.55 g/t Au. Follow-up
drilling returned intervals to 6.0
m of 13.67 g/t Au. Gold mineralization is
associated with minor sulphide-bearing sequences and includes
visible gold within common quartz veinlet arrays similar to that in
the C Zone. The upcoming drill program, that will begin early in
2020, will focus on large untested areas between the C and D Zone
horizons in an effort to expand mineralization for future resource
estimates.
Supporting the previous near-surface mineral resource estimate
was an initial metallurgical program. Premier reported a completed
metallurgical scoping program on samples from the Hasaga, Central
and Buffalo Zones with the intent to characterize the lithological
and mineralization domains, and to complement the Hasaga mineral
resource estimate. Although bottle roll tests utilizing
coarser-crush sample composites (¼", ½", ¾" crush sizes) did not
support a potential heap leach recovery process, the baseline
bottle roll cyanidation study indicated very good recoveries for
all grade ranges with metallurgical results of between 94% and 97%
when grinding to 80% passing 200 mesh.
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.
Assay results are from core samples sent to Activation Labs, an
accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and
analysis utilizing both fire assay and screen metallic methods. For
a complete description of Premier's sample preparation, analytical
methods and QA/QC procedures refer to the technical report for the
Hasaga Project dated February 24,
2017 (effective date December 30,
2016), entitled "National Instrument 43-101 Technical
Report: Hasaga Project, Red Lake Mining District, Ontario, Canada" located on Premier's website
and at www.sedar.com.
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