Includes 25.9 m of 13.33 g/t Au
and 18.3 m of 26.76 g/t Au
THUNDER BAY, ON, Feb. 16, 2021 /CNW/ - Premier Gold Mines
Limited (TSX: PG) (OTCPK: PIRGF) ("Premier", "the
Company") is pleased to announce additional results from the
2020 drill program focused on expanding mineralization at the
El Nino underground mine on the Company's 40%-owned South
Arturo Property. Located on the prolific Carlin Trend of Nevada, the South Arturo Mine is a joint
venture between Premier and Nevada Gold Mines LLC, a joint
venture between Newmont Mining Corporation and Barrick
Gold Corporation ("Barrick") operated by Barrick.
Highlight intercepts from the drill program include:
- 25.9 m of 13.33 g/t Au
includes 18.3 m of 15.84 g/t Au (SEC20004)
- 10.7 m of 10.70 g/t Au and
16.8 m of 8.57 g/t Au and
18.3 m of 6.77 g/t Au
(SEC20008)
- 9.1 m of 24.11 g/t Au and
6.1 m of 7.84 g/t Au and 3.1 m of 20.45 g/t Au (SEC20009)
- 3.1 m of 29.21 g/t Au and
18.3 m of 26.76 g/t Au and
4.6 m of 7.05 g/t Au
(SEC20010)
- 3.1 m of 55.73 g/t Au and
3.1 m of 7.08 g/t Au
(SEC20011)
- 6.1 m of 10.46 g/t Au and
10.0 m of 9.45 g/t Au
(SER20022)
Highlight intercepts from previously released drill holes in
2020 include:
- 41.1 m of 7.37 g/t Au
(SEC20003)
- 100.6 m of 5.72 g/t
Au (SER20018)
- 39.6 m of 17.11 g/t
Au (SER20019)
- 45.7 m of 6.79 g/t Au
includes 9.1 m of 10.15 g/t Au and 4.6 m of
18.82 g/t Au (SER20025)
"The highly successful drill campaign in 2020 at El Nino
has returned numerous impressive intercepts with excellent grade
and width that bode well for the future of the mine", stated
Ewan Downie, President and CEO of
Premier. "Multiple holes from the program intersected multiple
zones of mineralization and we expect an increase reserves and
resources and an expanded mine life. The deposit remains open at
depth and along strike".
El Nino is a Carlin-type deposit hosted in a
silica-sulphide breccia within the Rodeo Creek formation near the
contact with the Bootstrap limestone. Ore from El Nino is processed
at Nevada Gold Mines' nearby Goldstrike facility. Exploration
drilling in 2020 tested the down-plunge extent of mineralization at
intersections of favorable structures, where high-grade ore often
resides.
Results received to date (see Figure 1 and Table 1)
indicate that the 2020 delineation campaign has successfully
extended high–grade mineralization more than 100 m below
existing mine workings and confirms the likelihood to continue
expanding high-grade mineralization at depth. The irregularly
shaped mineralization mapped from mining excavations suggest true
widths are 40% to 80% of the core lengths summarized in
Table 1. Assays results from six drill holes completed in the
northern portion of the lower El Nino target are pending. In
2021, 6,000 metres of drilling is planned to further define and
expand the ore body that remains open at depth to the east and
along strike north and south.
Table 1 – New
2020 Drill Results from El Nino
|
Hole
ID
|
Type
|
From
|
To
|
Length
|
Au
|
Length
|
Au
|
m
|
m
|
m
|
g/t
|
ft
|
oz/ton
|
SEC20001
|
Core
|
39.6
|
45.7
|
6.1
|
8.34
|
20
|
0.24
|
|
and
|
99.1
|
103.6
|
4.6
|
7.75
|
15
|
0.23
|
SEC20004
|
Core
|
96.0
|
121.9
|
25.9
|
13.33
|
85
|
0.39
|
|
including
|
96.0
|
114.3
|
18.3
|
15.84
|
60
|
0.46
|
SEC20008
|
Core
|
6.1
|
12.2
|
6.1
|
6.25
|
20
|
0.18
|
|
and
|
39.6
|
50.3
|
10.7
|
10.70
|
35
|
0.31
|
|
and
|
73.2
|
89.9
|
16.7
|
8.57
|
55
|
0.25
|
|
and
|
106.7
|
125.0
|
18.3
|
6.77
|
60
|
0.20
|
SEC20009
|
Core
|
77.8
|
86.9
|
9.1
|
24.11
|
30
|
0.70
|
|
and
|
105.2
|
111.3
|
6.1
|
7.22
|
20
|
0.21
|
|
and
|
114.3
|
120.4
|
6.1
|
7.84
|
20
|
0.23
|
|
and
|
147.8
|
150.9
|
3.1
|
20.45
|
10
|
0.60
|
|
and
|
155.5
|
158.5
|
3.1
|
7.65
|
10
|
0.22
|
SEC20010
|
RC
|
9.1
|
12.2
|
3.1
|
29.21
|
10
|
0.85
|
|
and
|
83.8
|
102.1
|
18.3
|
26.76
|
60
|
0.78
|
|
and
|
167.6
|
172.2
|
4.6
|
7.05
|
15
|
0.21
|
SEC20011
|
Core
|
10.7
|
13.7
|
3.1
|
55.73
|
10
|
1.63
|
|
and
|
146.3
|
149.4
|
3.1
|
7.08
|
10
|
0.21
|
SER20022
|
RC
|
64.0
|
70.1
|
6.1
|
10.46
|
20
|
0.31
|
|
and
|
77.7
|
88.4
|
10.7
|
9.45
|
35
|
0.28
|
|
and
|
100.6
|
105.2
|
4.6
|
6.34
|
15
|
0.18
|
In addition to the drilling completed in 2020 at El Nino, a
surface drilling program was also completed proximal to the Phase 1
pit and Phase 3 deposit in an effort to better define near-surface
mineralization potentially amenable to heap leach processing and to
test potential high-grade targets. Results from this program are
expected to be received in the first quarter. Part of the ongoing
work being performed at South Arturo include trade-off work
associated with the Phase 3 project (open pit vs underground) and
progressing a revised mineral resource estimate that will then be
completed once all assay results from 2020 are received.
Table 2 –
Collar Coordinates
|
UTM
|
Project
|
Hole
ID
|
North m
|
East m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83
ZONE 11
|
El Nino
|
SEC20001
|
4543557
|
549463
|
1480
|
165
|
-76
|
El Nino
|
SEC20003
|
4543557
|
549463
|
1480
|
213
|
-66
|
El Nino
|
SEC20004
|
4543501
|
549510
|
1479
|
258
|
-80
|
El Nino
|
SEC20006
|
4543498
|
549512
|
1479
|
172
|
-71
|
El
Nino
|
SEC20007
|
4543499
|
549514
|
1479
|
146
|
-78
|
El
Nino
|
SEC20008
|
4543277
|
549419
|
1519
|
223
|
-71
|
El Nino
|
SEC20009
|
4543276
|
549420
|
1521
|
094
|
-79
|
El Nino
|
SEC20010
|
4543277
|
549420
|
1522
|
068
|
-73
|
El Nino
|
SEC20011
|
4543278
|
549420
|
1519
|
057
|
-68
|
El Nino
|
SER20022
|
4543507
|
549495
|
1480
|
285
|
-78
|
Qualified Person
Stephen McGibbon, P. Geo.,
Executive Vice President, Corporate and Project Development, 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. The primary assay laboratories for the South
Arturo Mine are ALS Minerals and American Assay Labs (American
Assay) in Reno, Nevada. For a
complete description of sample preparation, analytical methods and
QA/QC procedures, refer to the technical report dated January 25, 2021 (effective date December 1, 2020), titled "Preliminary
Feasibility Study for the South Arturo Mine, Elko County, NV" located on Premier's website
and at www.sedar.com.
Abbreviations used in this press release are available by
following this link (click here).
About Premier & i-80
Premier is a gold producer and respected exploration and
development company with a high-quality portfolio of precious
metals projects in proven, accessible, and safe mining
jurisdictions in Canada,
the United States and Mexico. On December 16,
2020, Equinox Gold Corp. and Premier Gold Mines Limited
announced that the companies have entered into a definitive
agreement whereby Equinox Gold will acquire all the outstanding
shares of Premier. Concurrently, Premier will spin-out to its
shareholders shares of a newly created US-focused gold production
and development company to be called i-80 Gold Corp.
Premier remains focused on creating i-80 as a Nevada-focused mining company with an organic
pipeline of assets to achieve mid-tier gold producer status. In
addition to its producing mine, El Nino at South Arturo,
Premier is beginning to plan for future production growth through
the potential addition of the Phases 1 & 3 projects at
South Arturo, advancing the Pinson underground and open pit
opportunities at the Getchell Project, and completing permitting
and the underground development plan for the 100%-owned McCoy-Cove
Property.
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws. Such statements and information involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the
company, its projects, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements or
information. Such statements can be identified by the use of words
such as "may", "would", "could", "will", "intend", "expect",
"believe", "plan", "anticipate", "estimate", "scheduled",
"forecast", "predict" and other similar terminology, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. These statements reflect
the Company's current expectations regarding future events,
performance and results and speak only as of the date of this
release.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to: unexpected changes in
laws, rules or regulations, or their enforcement by applicable
authorities; the failure of parties to contracts with the company
to perform as agreed; social or labour unrest; changes in commodity
prices; and the failure of exploration programs or studies to
deliver anticipated results or results that would justify and
support continued exploration, studies, development or
operations.
Although the forward-looking statements contained in this
release are based upon what management of the company believes are
reasonable assumptions, the company cannot assure investors that
actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the
date of this release and are expressly qualified in their entirety
by this cautionary statement. Subject to applicable securities
laws, the company does not assume any obligation to update or
revise the forward-looking statements contained herein to reflect
events or circumstances occurring after the date of this
release.
SOURCE Premier Gold Mines Limited