Premier Provides South Arturo Mine Update - Declares Commercial Production

Date : 10/28/2019 @ 10:00AM
Source : PR Newswire (Canada)
Stock : Premier Gold Mines Limited (PG)
Quote : 1.72  0.06 (3.61%) @ 9:09PM

Premier Provides South Arturo Mine Update - Declares Commercial Production

Premier Gold Mines (TSX:PG)
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Drilling Intersects 112.8 m of 7.29 g/t Au at Phase 3 and 24.4 m of 20.60 g/t Au at El Niño  

THUNDER BAY, ON, Oct. 28, 2019 /CNW/ - PREMIER GOLD MINES LIMITED (TSX: PG) (OTCPK: PIRGF) ("Premier", "the Company") is pleased to announce commercial production has been achieved, ahead of schedule, at the El Niño underground mine, the Company's 40%-owned South Arturo Property located in the Carlin Trend of Nevada. Also, new definition and step-out drilling results from the ongoing 2019 campaign are showing better outcomes than projected. Initial production supports this and emphasizes the continued opportunity to expand high-grade mineralization on the property. The South Arturo Mine is a joint venture between Premier and Nevada Gold Mines LLC, a joint venture between Newmont-Goldcorp and Barrick Gold Exploration Inc. ("Barrick") operated by Barrick. Highlight intercepts include:

El Niño

  • 24.4 m of 20.60 g/t Au (SEC19010)
  • 50.3 m of 6.36 g/t Au (SEC19009)
  • 39.6 m of 8.75 g/t Au (SEC19001)
  • 32.0 m of 10.09 g/t Au (IER19021)

Phase 3

  • 112.8 m of 7.29 g/t Au (MAD19004)
  • 62.5 m of 7.93 g/t Au (MAD19002)
  • 118.9 m of 1.78 g/t Au (MAD19005)

Production at El Niño has commenced ahead of schedule and on budget, with high-grade ore now being processed at the Goldstrike facility located 8 km to the south. Based on current projections, overall gold production from South Arturo is anticipated to surpass expectations, which called solely for pre-production ore, for the year. Development of the Phase 1 pit is ongoing.

In 2019, multiple drill programs are being completed including in-fill and step-out drilling from the underground drill stations at the El Niño mine, geotechnical drilling at the proposed Phase 3 pit project, and drilling at the East Dee target.

El Niño Drill Program

During 2019, definition and step-out drill holes are being completed from underground drill stations at the newly constructed El Niño mine. Although some assay remains pending, results received to date have exceeded expectations (Table 1, Figure 1).

Table 1 – 2019 El Niño RC In-fill and Step-out Drill Results. True widths are estimated at 70 to 100%

Hole ID

 

From

m

To

m

Length

m

Au

g/t

SEC19001 (Core)

4.6

44.2

39.6

8.75

SEC19001A

6.1

38.1

32.0

9.93

SEC19003

111.3

118.9

7.6

3.98

SEC19004A

93.0

102.1

9.1

11.01

SEC19009

67.1

117.3

50.3

6.36

SEC19010

76.2

100.6

24.4

20.60

SER19001

44.2

67.1

22.9

23.22

IER19001

13.7

47.2

33.5

9.47

IER19002

1.5

42.7

41.1

11.41

IER19003

4.6

47.2

42.7

7.20

Including

12.2

21.3

9.1

14.67

IER19006

29.0

73.2

44.2

6.30

IER19007

16.8

25.9

9.1

14.00


33.5

47.2

13.7

8.31

IER19009

47.2

71.6

24.4

12.75

IER19010

25.9

54.9

29.0

3.69

IER19013

42.7

64.0

21.3

15.58

IER19016

41.1

61.0

19.8

16.46

IER19017

45.7

57.9

12.2

10.75

IER19020

1.5

24.4

22.9

5.24

IER19021

1.5

33.5

32.0

10.09

IER19022

0.0

53.3

53.3

8.30

IER19024

36.6

79.2

42.7

5.98

IER19025

51.8

67.1

15.2

8.41

IER19026

53.3

70.1

16.8

13.60

IER19027

38.1

67.1

29.0

3.96

IER19028

50.3

68.6

18.3

13.13

IER19031

33.5

85.3

51.8

11.13

IER19032

35.1

57.9

22.9

5.89


67.1

94.5

27.4

6.58

IER19033

38.1

96.0

57.9

5.08

IER19035

41.1

65.5

24.4

5.59


89.9

106.7

16.8

11.06

IER19036

44.2

57.9

13.7

5.60

GER19001

16.8

47.2

30.5

5.72

GER19002

18.3

27.4

9.1

25.89

 

At the contact of the Rodeo Creek and Bootstrap formations, the host silica-sulphide breccia unit is presenting thicker intercepts than previously thought. Finally, work continues to advance the potential for processing run-of-mine (heap leach) material from Phase 1, currently being stockpiled, and Phase 3.

Figure 1 – Plan view of El Niño deposit (CNW Group/Premier Gold Mines Limited)

Phase 3 Pit Project

In an ongoing effort to advance the Phase 3 pit project into future mine planning, geo-technical and geo-metallurgical drilling is being performed. The program continues to expand mineralization within the deeper high-grade breccia target in addition to potential heap leach ore in the upper parts of the deposit (Table 2, Figure 2). Highlight results received to date from the 2019 drill program are presented in Table 2 with some assays still pending.

Table 2 – 2019 Phase 3 Core Drill Results. True widths are estimated at 70 to 100%

Hole ID

From
m

To
m

Length
m

Au
g/t

MAD19001

221.0

257.6

36.6

4.67

Including

231.6

240.8

9.1

11.99

MAD19002

205.7

268.2

62.5

7.93

MAD19004

242.3

355.1

112.8

7.29

MAD19005

262.1

329.8

67.7

1.90

MAD19007

32.0

150.9

118.9

1.78

MAD19021

198.1

204.2

6.1

2.63

 

Figure 2 – Longitudinal view of the Phase 3 Pit (CNW Group/Premier Gold Mines Limited)


East Dee Target

Drilling to further assess the opportunity of the East Dee Target is nearing completion. East Dee is located immediately east of the current Phase 1 open pit. Drilling in 2018 returned numerous significant intercepts including 25.9 m of 5.8 g/t Au in hole BD18-05C and 21.3 m of 6.5 g/t Au in hole BD18-08C. 2019 drilling has multiple intercepts of silica-sulphide-breccia, confirming the potential of this target. Assay results will be released in the future.

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.

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 Chemex Labs (ALS Chemex) 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 March 26, 2018 (effective date December 31, 2017), entitled "Technical Report on the South Arturo Mine, Elko County, State of Nevada, USA" located on Premier's website and at www.sedar.com. 

Table 3 - Collar coordinates

UTM

Project

Hole ID

North

m

East

m

Elevation

m

Azimuth

Dip

NAD83 Zone 11

South Arturo

SEC19001

549216

4543321

1532

096

-12

South Arturo

SEC19001A

549216

4543322

1532

099

-11

South Arturo

SEC19003

549360

4543260

1527

182

-54

South Arturo

SEC19004A

549479

4543398

1504

060

-61

South Arturo

SEC19009

549272

4543419

1496

072

-7

South Arturo

SEC19010

549272

4543419

1496

068

-12

South Arturo

SER19001

549272

4543418

1496

127

2

South Arturo

SER19002

549272

4543418

1496

038

2

South Arturo

IER19001

549216

4543322

1532

069

-12

South Arturo

IER19002

549216

4543321

1532

084

-9

South Arturo

IER19003

549216

4543320

1532

105

-9

South Arturo

IER19006

549269

4543400

1516

153

-2

South Arturo

IER19007

549269

4543400

1516

136

-13

South Arturo

IER19009

549271

4543403

1515

102

-10

South Arturo

IER19010

549271

4543403

1515

085

-13

South Arturo

IER19013

549408

4543320

1519

257

2

South Arturo

IER19016

549408

4543320

1519

260

-9

South Arturo

IER19017

549408

4543320

1519

275

-7

South Arturo

IER19020

549443

4543363

1508

233

5

South Arturo

IER19021

549443

4543363

1508

258

4

South Arturo

IER19022

549273

4543506

1482

273

2

South Arturo

IER19024

549273

4543506

1482

106

-1

South Arturo

IER19025

549272

4543418

1496

098

1

South Arturo

IER19026

549272

4543418

1496

107

1

South Arturo

IER19027

549272

4543418

1496

098

1

South Arturo

IER19028

549273

4543506

1482

082

2

South Arturo

IER19031

549273

4543506

1482

119

7

South Arturo

IER19032

549273

4543506

1482

113

-4

South Arturo

IER19033

549273

4543506

1482

110

-5

South Arturo

IER19035

549273

4543506

1482

097

-5

South Arturo

IER19036

549216

4543322

1532

090

-8

South Arturo

GER19001

549254

4543402

1497

003

18

South Arturo

GER19002

549254

4543402

1497

007

-15

South Arturo

MAD19001

548568

4542631

1792

124

-80

South Arturo

MAD19002

548693

4542564

1776

257

-68

South Arturo

MAD19004

548593

4542403

1743

079

-81

South Arturo

MAD19005

548581

4542368

1756

085

-82

South Arturo

MAD19007

548391

4542619

1720

150

-76

South Arturo

MAD19021

548539

4542860

1775

088

-70

 

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.

Premier Gold Mines Limited (CNW Group/Premier Gold Mines Limited)

SOURCE Premier Gold Mines Limited

Copyright 2019 Canada NewsWire

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