Highlights include a true width of
12.7 m grading 10.17 g/t Au & 294.27 g/t Ag at
Marianas
THUNDER BAY, ON, Nov. 24, 2020 /CNW/ - Premier Gold Mines
Limited ("Premier") (TSX: PG) (OTCPK: PIRGF) ("Premier",
"the Company") is pleased to report on the continued success of
its delineation core drilling program at the Company's 100%-owned
Mercedes Mine, located in the State of
Sonora, Mexico. The campaign is focused on expanding and
confirming the continuity of higher-grade mineralization in several
areas including Marianas, San
Martin and Diluvio West. Highlights of recent results (in
true widths) include:
Marianas Multiple Horizons
- 12.7 m of 10.17 g/t Au &
294.27 g/t Ag (UG-MR20-065)
- 8.1 m of 7.49 g/t Au &
56.78 g/t Ag (UG-MR20-068)
San Martin Vein
- 4.2 m of 10.03 g/t Au &
118.89 g/t Ag (L20-534D)
- 2.3 m of 5.31 g/t Au &
131.42 g/t Ag (L20-528D)
Diluvio West Stockwork Zone
- 10.2 m of 7.12 g/t Au &
26.21 g/t Ag (UG-DI20-099)
- 12.2 m of 4.47 g/t Au &
21.43 g/t Ag contained in 56.6 m of
2.99 g/t Au & 12.28 g/t Ag (UG-DI20-105)
- 14.2 m of 4.86 g/t Au &
30.59 g/t Ag and 13.2 m of 6.83 g/t
& 27.49 g/t Ag (UG-D120-104)
"Our recent delineation drilling at Marianas, San Martin and Diluvio West confirm that these
zones are emerging as important contributors to the future
production at Mercedes," commented Stephen McGibbon,
Executive Vice–President. "We are excited by these three major
areas that have yielded some of the best grade intercepts over the
past several years."
Abbreviations used in this press release are available by
following this link (click here).
Marianas
Marianas represents the down-plunge extension of the main
Mercedes mine trend, which remains open at depth. A delineation
program of 5,000 m will be completed by the end of the year.
This program is conducted from a nearby ramp, driven from the
Lagunas mine workings, which will be used as access for future mine
development.
The delineation campaign confirmed that Marianas is composed of
three main veins: Main, West and East (Table 1,
Figure 1). Significant results in the core of the mineral
resource at Marianas Main returned 6.3 m of grading
20.23 g/t Au & 631.41 g/t Ag contained within
12.7 m of grading 10.17 g/t Au & 294.27 g/t
Ag (UG-MR20-065). Marianas East, a sub-vertical structure west
of the Main vein, has returned up to 2.8 m grading
5.29 g/t Au & 30.28 g/t Ag (UG-MR20-063). Six
drill holes remain to complete the delineation program which should
result in an upgrade and increase in the Marianas resource. The
plan is to upgrade these to reserves for production in 2022.
Figure 1 – Marianas delineation update
Table 1 – Highlight composites summary from
delineation drilling at Marianas
|
|
|
|
|
|
|
|
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True Width
m
|
Au g/t
|
Ag g/t
|
UG-MR20-060
|
Main
|
119.1
|
121.3
|
2.2
|
2.0
|
3.69
|
46.16
|
|
East
|
156.8
|
157.8
|
1.0
|
0.7
|
4.90
|
12.00
|
UG-MR20-063
|
Main
|
149.4
|
150.9
|
1.5
|
1.3
|
0.89
|
46.00
|
|
East
|
181.6
|
184.6
|
3.0
|
2.8
|
5.29
|
30.28
|
UG-MR20-064
|
Main
|
126.1
|
128.9
|
2.9
|
2.5
|
4.15
|
87.53
|
|
East
|
193.2
|
195.0
|
1.8
|
1.8
|
4.43
|
11.50
|
UG-MR20-065
|
Main
|
117.6
|
132.5
|
14.9
|
12.7
|
10.17
|
294.27
|
|
Including
|
117.6
|
124.2
|
6.6
|
6.3
|
20.23
|
631.41
|
|
East
|
152.5
|
154.3
|
1.9
|
1.8
|
5.78
|
28.38
|
UG-MR20-066
|
Main
|
137.2
|
140.9
|
3.7
|
3.3
|
2.69
|
128.53
|
|
Main
|
138.0
|
140.3
|
2.3
|
2.1
|
3.81
|
191.98
|
UG-MR20-067
|
Main
|
124.4
|
127.2
|
2.8
|
2.1
|
6.95
|
228.46
|
|
East
|
159.7
|
161.2
|
1.5
|
1.4
|
2.03
|
27.00
|
UG-MR20-068
|
Main
|
116.2
|
124.2
|
8.1
|
7.5
|
7.49
|
56.78
|
|
East
|
160.7
|
165.1
|
4.4
|
4.0
|
1.40
|
10.61
|
San Martin and
Lupita
San Martin, located 600 m
to the west of Lupita, was discovered with an intercept of
1.5 m of 5.56 g/t Au (L19-396D) in May 2019. The delineation program underway at
San Martin has identified a fault
on the eastern portion of the deposit, along which the vertical
displacement is interpreted to be 170 m. Further drilling is
planned to prospect for the vein at depth. Drilling in 2020,
focused on the eastern portion of San
Martin, to define the extension of the mineralization and
the potential for inferred resources (Table 2,
Figure 2).
Highlights of the program include 4.2 m grading
10.03 g/t Au & 118.89 g/t Ag (L20-534D),
confirming prospective continuity towards the Neo target to the
north. Drilling at the edge of Lupita Extension returned
1.8 m grading 5.31 g/t Au & 131.42 g/t Ag
(L20-528D), demonstrating further potential to the north. Assay
results are still pending for several holes that intercepted veins
that are visually encouraging. Drilling to date continues to expand
San Martin and increases
confidence in the grade of the zone.
Figure 2 – San Martin
and Lupita delineation update
Table 2 – Highlight composites summary from delineation
drilling at San Martin and
Lupita
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True Width
m
|
Au g/t
|
Ag g/t
|
L20-520D
|
San
Martin
|
217.5
|
218.9
|
1.4
|
1.3
|
3.68
|
39.00
|
L20-522D
|
San
Martin
|
222.5
|
225.4
|
2.9
|
2.7
|
3.77
|
36.52
|
L20-523D
|
San
Martin
|
214.5
|
218.2
|
3.7
|
3.6
|
3.61
|
30.77
|
L20-534D
|
San
Martin
|
230.5
|
235.1
|
4.6
|
4.2
|
10.03
|
118.89
|
L20-535D
|
San
Martin
|
160.2
|
161.2
|
1.0
|
1.0
|
4.45
|
26.00
|
L20-528D
|
Lupita
|
201.4
|
203.6
|
2.3
|
1.8
|
5.31
|
131.42
|
Diluvio West
Drilling at Diluvio West continues to intercept high-grade zones
including 12.2 m of 4.47 g/t Au & 21.43 g/t
Ag and 6.2 m of 5.64 g/t Au & 12.57 g/t Ag
contained within 56.6 m of 2.99 g/t Au &
12.28 g/t Ag (UG-DI20-105). Other intercepts on the edge
of the mineralized zone returned
10.2 m of 7.12 g/t Au & 26.21 g/t
Ag (UG-DI20-099), 27.5 m of 4.07 g/t Au &
13.39 g/t Ag (UG-DI20-113) and 36.5 m of
3.24 g/t Au & 11.29 g/t Ag (UG-DI20-109). The
program focused on defining the limits of the mineralization and
confirm the continuity within the heart of the zone (Table 3,
Figure 3).
Diluvio West consists of a vein stockwork system within a broad
envelope. The underground drill program has increased confidence in
the grade and should result in an upgrade from a resource to a
mineral reserve. The program returned several large intercepts of
higher grades within the core of the zone and has successfully
delineated the extent of mineralization.
Figure 3 – Diluvio West delineation update
Table 3 – Highlight Composites summary from underground
drilling at Diluvio
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
Au g/t
|
Ag g/t
|
UG-DI20-099
|
Diluvio
West
|
73.4
|
83.5
|
10.2
|
7.12
|
26.21
|
|
Diluvio
West
|
116.5
|
118.0
|
1.5
|
5.24
|
10.00
|
UG-DI20-104
|
Diluvio
West
|
71.4
|
85.6
|
14.2
|
4.86
|
30.59
|
|
Including
|
71.4
|
74.5
|
3.1
|
4.07
|
14.52
|
|
And
|
77.5
|
85.6
|
8.1
|
6.59
|
40.89
|
|
Diluvio
West
|
114.6
|
127.8
|
13.2
|
6.83
|
27.49
|
|
Including
|
121.7
|
127.8
|
6.1
|
12.90
|
49.74
|
|
Diluvio
West
|
141.6
|
144.0
|
2.4
|
8.80
|
14.45
|
UG-DI20-105
|
Diluvio
West
|
83.6
|
140.1
|
56.6
|
2.99
|
12.28
|
|
Including
|
83.6
|
86.6
|
3.1
|
3.01
|
10.99
|
|
And
|
89.7
|
94.3
|
4.6
|
3.92
|
14.99
|
|
And
|
98.8
|
111.0
|
12.2
|
4.47
|
21.43
|
|
And
|
133.9
|
140.1
|
6.2
|
5.64
|
12.57
|
|
And
|
149.0
|
150.4
|
1.4
|
6.27
|
40.00
|
UG-DI20-106
|
Diluvio
West
|
53.0
|
63.8
|
10.8
|
5.58
|
8.30
|
|
Including
|
53.0
|
53.9
|
0.9
|
13.80
|
12.00
|
|
Including
|
60.8
|
63.8
|
3.1
|
13.88
|
15.51
|
|
Diluvio
West
|
76.0
|
79.1
|
3.1
|
3.48
|
9.50
|
|
Diluvio
West
|
117.2
|
118.7
|
1.5
|
4.77
|
20.00
|
UG-DI20-109
|
Diluvio
West
|
50.0
|
86.5
|
36.5
|
3.24
|
11.29
|
|
Including
|
56.1
|
65.3
|
9.2
|
5.81
|
10.01
|
|
And
|
72.5
|
86.5
|
14.0
|
3.59
|
11.00
|
UG-DI20-113
|
Diluvio
West
|
106.5
|
108.1
|
1.5
|
16.75
|
35.00
|
|
Diluvio
West
|
152.3
|
179.7
|
27.5
|
4.07
|
13.39
|
|
Diluvio
West
|
188.4
|
189.4
|
1.0
|
7.32
|
11.00
|
|
Diluvio
West
|
229.4
|
231.5
|
2.0
|
5.00
|
69.63
|
UG-DI20-098
|
Diluvio
|
17.1
|
32.3
|
15.2
|
4.57
|
63.70
|
|
Including
|
17.1
|
18.3
|
1.2
|
16.25
|
233.00
|
|
And
|
28.8
|
29.9
|
1.1
|
34.20
|
223.00
|
Premier Gold Annual General Meeting of Shareholders
The Company would also like to invite shareholders and investors
to virtually attend its Annual and General Meeting followed by a
corporate presentation and comprehensive project to be held at
4:00 p.m. EST on November 24, 2020, via
https://web.lumiagm.com/263560188. The presentation can be viewed
on the Company's website www.premiergoldmines.com and on the
webcast link.
Table 4 - Collar coordinates
UTM
|
Project
|
Hole
ID
|
North m
|
East m
|
Elevation m
|
Azimuth
|
Dip
|
NAD 27
zone 12
|
Mercedes
|
L20-520D
|
3359945
|
551034
|
1206
|
118
|
-63
|
Mercedes
|
L20-522D
|
3360030
|
551066
|
1214
|
125
|
-56
|
Mercedes
|
L20-523D
|
3360029
|
551065
|
1214
|
141
|
-81
|
Mercedes
|
L20-528D
|
3360171
|
551509
|
1262
|
153
|
-72
|
Mercedes
|
L20-534D
|
3360024
|
551175
|
1235
|
345
|
-82
|
Mercedes
|
L20-535D
|
3359792
|
551053
|
1207
|
145
|
-76
|
Mercedes
|
UG-DI20-098
|
3360613
|
552125
|
1058
|
193
|
-48
|
Mercedes
|
UG-DI20-099
|
3360667
|
551953
|
1015
|
191
|
-21
|
Mercedes
|
UG-DI20-104
|
3360667
|
551955
|
1016
|
186
|
-14
|
Mercedes
|
UG-DI20-105
|
3360666
|
551955
|
1015
|
165
|
-31
|
Mercedes
|
UG-DI20-106
|
3360666
|
551955
|
1015
|
178
|
-33
|
Mercedes
|
UG-DI20-109
|
3360667
|
551956
|
1015
|
147
|
-27
|
Mercedes
|
UG-DI20-113
|
3360666
|
551955
|
1016
|
190
|
-9
|
Mercedes
|
UG-MR20-060
|
3357635
|
547421
|
862
|
44
|
-47
|
Mercedes
|
UG-MR20-063
|
3357684
|
547335
|
851
|
33
|
7
|
Mercedes
|
UG-MR20-064
|
3357684
|
547334
|
850
|
18
|
-15
|
Mercedes
|
UG-MR20-065
|
3357683
|
547336
|
851
|
48
|
-3
|
Mercedes
|
UG-MR20-066
|
3357683
|
547336
|
851
|
52
|
0
|
Mercedes
|
UG-MR20-067
|
3357684
|
547336
|
851
|
41
|
1
|
Mercedes
|
UG-MR20-068
|
3357684
|
547336
|
850
|
52
|
-13
|
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.
Julie-Anaïs Debreil, P.Geo., Ph.D., 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