New results include 9.19 g/t Au across 50.0
metres & 12.03 g/t Au across 21.0m
THUNDER BAY, ON, Dec. 12, 2017 /CNW/ - Premier Gold Mines
Limited (TSX-PG) is pleased to provide a summary of results
from the 2017 exploration program at the Company's 100%-owned
Hasaga Project in the Red Lake
gold mining district of Northwestern
Ontario. This program is targeting potential
higher-grade gold mineralization along the Hasaga Deep Target trend
at depth, proximal to historic results and includes new wedged
holes from historic drill sites.
Highlights from the 2017 exploration campaign include:
- New C-Zone delineation results include HMP 164 with 9.19 g/t
Au across 50.0m and HMP 164-W3 with
12.03 g/t Au across 21.0m.
- Previously reported C-Zone results include HMP 151 with
10.94 g/t Au across 54.0m and HMP
17-88-02-W2 grading 22.56 g/t Au across 7.0m.
- A mineral resource estimate was released earlier in the year
of 1.12M ozs gold Indicated and
0.63M ozs gold Inferred from multiple
optimized pit shells, suggesting widespread near surface
mineralization having potential for future open pit mining.
- A new discovery located 500-metres west of the C-Zone
includes HMP 162 grading 9.55 g/t Au across 8.0m and highlights some two kilometres of
underexplored property (Hasaga Deep Target) west of Hasaga to the
Buffalo mine.
Figure 1 below is a 3D-rendering of the Hasaga Property that
profiles the multiple locations of the 2017 mineral resources
estimate, the C-Zone delineation target and the new discovery some
500m west of the C-Zone. A
comprehensive table of assay highlights from the 2017 Hasaga Deep
drill program is summarized in Table 1.
Abbreviations used in this press release are available by
following this link (click here).
Exploration Program Overview
The Hasaga Property is
host to the past-producing Hasaga and Buffalo and Goldshore Mines
and is being evaluated for both lower grade, open-pit potential as
well as higher grade mineralization that may occur at depth.
Premier considers Hasaga to have similar exploration potential to
other historic mining camps in Ontario, where gold resources have been
discovered at the site of past-producing mines.
The 2017 exploration program was focused on testing the
potential for deeper, higher-grade mineralization in the Hasaga
porphyry, which occurs along a two-kilometre corridor between the
Hasaga and Buffalo mines and is proximal to a major regional
unconformity that separates the Balmer and Confederation-aged rock
assemblages. This unconformity is an important component thought
critical to the formation of the world class gold deposits in
Red Lake currently being mined by
Goldcorp Inc.
"Our latest results include high grade intercepts with
attractive geometries and common visible gold." commented
Stephen McGibbon, Premier's
Executive Vice-President on the Company's C-Suite Blog
(http://www.premiergoldmines.com/news/c-suite-blog). "The large
step-out holes drilled with HMP 161 and HMP 162 included extensive
alteration similar to the C Zone some 500 metres to the east."
Host rocks containing the mineralized material include the Dome
Stock and Hasaga Porphyry units, both of which are well-known as
historic hosts of mineable gold deposits.
The 2017 Hasaga exploration program included drilling 21 holes
(including wedged holes) with some 22,000 metres of core drilling
at a cost of some C$2.9 million.
Premier is actively integrating results of the program and has
proposed a 2018 program that continues to explore along the Hasaga
Deep Target. An updated mineral resource estimate is anticipated in
due course.
Table 1 - Summary of drill results from completed 2017
exploration program
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Hole
ID
|
Coordinates(1)
(m)
|
Azimuth/Dip
|
Elevation
(m)
|
Section
|
Comment
|
From
(m)
|
To
(m)
|
Intercept
(m)
|
Intercept
True
Width
(m)
|
Au
(g/t)
|
HMP151
|
442172/5651660
|
323.7 /
-81
|
388
|
12100
|
C Zone;
Vg
|
771.0
|
825.0
|
54.0
|
28.8
|
10.94
|
|
|
|
|
|
Including;
Vg
|
771.0
|
779.0
|
8.0
|
4.3
|
23.32
|
|
|
|
|
|
and;
Vg
|
789.0
|
812.0
|
23.0
|
12.3
|
11.23
|
|
|
|
|
|
and;
Vg
|
820.0
|
825.0
|
5.0
|
2.7
|
25.56
|
HMP153
|
441145/5651862
|
147.7 /
-81
|
386
|
11200
|
C Zone;
Vg
|
1064.0
|
1065.0
|
1.0
|
0.6
|
41.20
|
HMP154
|
441950/5651418
|
334.9 /
-75
|
390
|
11850
|
C Zone
|
811.0
|
820.0
|
9.0
|
5.9
|
1.30
|
HMP155
|
441019/5651660
|
140.3 /
-80
|
|
11100
|
C Zone
|
52.5
|
58.5
|
6.0
|
3.6
|
1.54
|
|
|
|
|
|
|
72.0
|
85.5
|
13.5
|
8.1
|
1.21
|
|
|
|
|
|
|
800.0
|
809.0
|
9.0
|
5.4
|
2.10
|
HMP156
|
441809/5651312
|
322.5 /-80
|
380
|
11650
|
C Zone; Vg
|
1047.0
|
1050.0
|
3.0
|
1.8
|
6.68
|
HMP157
|
441154/5651748
|
150.1 /
-78
|
380
|
11200
|
C Zone;
Vg
|
758.0
|
759.0
|
1.0
|
0.6
|
19.90
|
HMP159
|
441322/5651839
|
147.5 /
-80
|
380
|
11400
|
C Zone
|
7.5
|
9.0
|
1.5
|
0.9
|
4.67
|
|
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|
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|
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815.0
|
816.0
|
1.0
|
0.6
|
7.56
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826.0
|
828.0
|
2.0
|
1.2
|
4.88
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|
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921.0
|
923.0
|
2.0
|
1.2
|
5.00
|
HMP160
|
441718/5651253
|
330 / -80
|
380
|
11500
|
C
Zone
|
1291.0
|
1293.0
|
2.0
|
1.2
|
3.28
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1319.0
|
1322.0
|
3.0
|
1.8
|
3.72
|
HMP161
|
440664/5651647
|
151.5 /-80
|
386
|
10750
|
West
Extension
|
1031.0
|
1212.0
|
181.0
|
106.4
|
1.21
|
|
|
|
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|
including
|
1045.0
|
1052.0
|
7.0
|
4.1
|
3.60
|
|
|
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and
|
1077.0
|
1095.0
|
18.0
|
10.6
|
2.21
|
|
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and
|
1105.0
|
1110.0
|
5.0
|
2.9
|
2.88
|
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and;
Vg
|
1211.0
|
1212.0
|
1.00
|
0.6
|
19.40
|
HMP162
|
440664/5651647
|
151.5/-62
|
386
|
10750
|
West
Extension
|
799.0
|
807.0
|
8.0
|
7.3
|
9.55
|
|
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|
including;
Vg
|
799.0
|
800.0
|
1.0
|
0.9
|
64.60
|
17-88-02w1
|
441546/5651183
|
330/-80
|
385
|
12170
|
C
Zone
|
977.0
|
987.0
|
10.0
|
6.5
|
3.38
|
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Including;
Vg
|
985.0
|
987.0
|
2.0
|
1.3
|
13.30
|
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|
|
1006.0
|
1008.0
|
2.0
|
1.3
|
3.50
|
|
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Vg
|
1049.0
|
1050.0
|
1.0
|
0.6
|
6.00
|
|
|
|
|
|
|
1083.0
|
1088.0
|
5.0
|
3.3
|
3.55
|
17-88-02w2
|
441546/5651183
|
330/-80
|
385
|
12200
|
C
Zone
|
881.0
|
886.0
|
5.0
|
3.0
|
3.36
|
|
|
|
|
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Vg
|
898.0
|
905.0
|
7.0
|
4.2
|
22.56
|
|
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Including
|
904.0
|
905.0
|
1.0
|
0.6
|
125.00
|
17-88-03w1
|
441500/5651130
|
330/-85
|
385
|
12200
|
C Zone;
Vg
|
1287.0
|
1291.0
|
4.0
|
3.8
|
3.82
|
17-88-03w2
|
441500/5651130
|
330/-85
|
385
|
12120
|
C Zone;
Vg
|
1294.0
|
1298.0
|
4.0
|
2.5
|
5.45
|
|
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Vg
|
1459.0
|
1462.0
|
3.0
|
2.0
|
6.41
|
HMP164*
|
441500/5651128
|
330/-76
|
384
|
12115
|
C Zone;
Vg
|
875.0
|
925.0
|
50.0
|
29.4
|
9.19
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Including;
Vg
|
893.0
|
900.0
|
7.0
|
4.1
|
39.95
|
HMP164-W1*
|
441500/5651128
|
330/-76
|
384
|
12160
|
C Zone;
Vg
|
847.0
|
862.0
|
15.0
|
10.4
|
4.81
|
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Including;
Vg
|
860.0
|
862.0
|
2.0
|
1.4
|
30.63
|
HMP164-W2*
|
441500/5651128
|
330/-76
|
384
|
12180
|
C Zone
|
838.0
|
859.0
|
21.0
|
14.6
|
2.10
|
|
|
|
|
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Including;
Vg
|
838.0
|
842.0
|
4.0
|
2.8
|
4.35
|
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and; Vg
|
854.0
|
859.0
|
5.0
|
3.5
|
3.92
|
HMP164-W3*
|
441500/5651128
|
330/-76
|
384
|
12160
|
C Zone; Vg
|
855.0
|
881.0
|
26.0
|
15.3
|
2.68
|
|
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Including;
Vg
|
855.0
|
860.0
|
5.0
|
2.9
|
4.37
|
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and;
Vg
|
875.0
|
881.0
|
6.0
|
3.5
|
6.00
|
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Vg
|
893.0
|
914.0
|
21.0
|
12.3
|
12.03
|
1) UTM NAD83, Zone
15; * Denotes newly released assays
|
Hasaga Deep Target
The shallow-focussed exploration
programs beginning in 2015, and historic drill holes with positive
results (HRL-88-02, HRL-88-03 and HRL96-02) completed by earlier
operators, strongly suggested the potential for the discovery of
deeper but higher grade gold mineralization. The area with
greatest potential occurs between the Hasaga and Buffalo mines
proximal to the Balmer-Confederation unconformity, and is called
the Hasaga Deep Target.
Premier based initial targeting on its understanding of the
Hasaga mine and the likelihood of continuity further to the west.
Premier's first hole of the 2017 campaign returned a high grade
intercept in hole HMP151 (see press release dated March 1, 2017; click here) that hosted
mineralization characteristic of the C-Zone at the Hasaga
Mine.
C-Zone Delineation
Delineation drilling conducted to date at the C-Zone target has
resulted in a better understanding of the geometries associated
with the mineralization. Some of the early conclusions from this
program, which may be adjusted based on proposed work in 2018
include:
- Distribution of individual mineralized shoots appear influenced
by two predominant plunge directions including a flatter SW (more
regional) component and a steeper NE component locally. The C-Zone
appears dominated by the steeper NE direction.
- In cross-section view the ore is sub-vertical dipping and
closely associated with the Hasaga Porphyry.
- Locally within the C-Zone, the mineralization can have true
widths of up to 29 metres, potentially making it amenable to more
bulk mineable underground mining methods in future scoping-related
work.
- Additional infill drilling is required for greater confidence
in the potential grade and scale of the mineralization.
West Extension Target
Drill results profiled in an earlier press release (See August 30th, 2017 release
"Premier Updates Hasaga Red Lake Drill Results" click here)
highlight the potential importance of the West Extension. The West
Extension Target area, which remains a priority future exploration
target, is a potential 1.6 kilometre southwest extension between
the C-Zone target and the Buffalo Zone to the west. Holes HMP161
and HMP162 were 500-metre southwest step-outs along strike from the
C-Zone, within the anticipated mineralized Hasaga Deep
horizon. Hole HMP161 intersected 1.21 g/t Au across
181.0m including 19 metres of 2.14
g/t Au and 18 metres of 2.21 g/t Au within a broad low grade halo
of the host porphyry. HMP 162 graded 9.55 g/t Au across 8.0
metres. Gold mineralization in HMP 161 and HMP 162 occurs in
association with minor sulphide-bearing sequences and includes
visible gold within common quartz veinlet arrays. The predominant
mineral alteration includes sericitization and silicification.
In Premier's view, the higher-grade mineralization in HMP 162 is
consistent with a repetition of a local, steeper NE plunging shoot
within the more regional and flatter SW plunging system. For
exploration planning purposes, the West Extension may represent a
discovery with potential grade and scale similar to the
C-Zone. If this is correct, the overall Hasaga Deep Target
represents an opportunity for multiple C-Zone sized
discoveries.
2017 Mineral Resource Estimate & Metallurgy
In
January, Premier confirmed the multi-million ounce potential of the
shallower target areas (See January
11th press release entitled "Premier Confirms Mineral
Resources at Hasaga"; click here). The 2017 mineral resource
estimate, completed by MRB and Associates of Val-d'Or, Quebec (with an effective date of
December 30th, 2016) was
completed following a two-year exploration and delineation drilling
campaign by Premier that focussed on the Central, Hasaga and
Buffalo target areas and is summarized in Table 2 below.
Table 2 - Hasaga Mineral Resource Estimate
Property
|
Resource
Category
|
Tonnes
('000t)
|
Gold Grade
(g/t)
|
Contained Au
('000 oz)
|
HASAGA
|
Measured
Indicated
|
-
42,294
|
-
0.83
|
-
1,124
|
Measured
+
Indicated
|
42,294
|
0.83
|
1,124
|
Total
Inferred
|
25,143
|
0.78
|
631
|
A technical report entitled "National Instrument 43-101
Technical Report: Hasaga Project, Red Lake Mining District,
Ontario, Canada" is available on
the Company's website or at www.sedar.com.
Supporting the mineral resource estimate was an initial
metallurgical program. Premier reported on a completed
metallurgical scoping program on samples from the Hasaga, Central
and Buffalo Zones with the intent to characterize the lithological
and mineralization domains of the project areas, and to complement
the Hasaga mineral resource estimate. Although bottle roll tests
utilizing coarser-crush sample composites (¼", ½", ¾" crush sizes)
does 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 will confirm its approved 2018 exploration plan and
budget for Hasaga early in the 2018.
Stephen McGibbon, 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.
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's team is focused
on creating a low-cost, mid-tier gold producer through its two
producing gold mines; and two advanced multi-million ounce
development projects where permitting and pre-construction
initiatives are in progress.
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 the completion of the
Financing, strategic plans, including future operations, future
work programs, capital expenditures, discovery and production of
minerals, price of gold and currency exchange rates, timing of
geological reports 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