Highlights include 39.0 metres (23.4m true width) of 5.69 g/t in
HMP176W3
THUNDER BAY, ON, Aug. 14, 2018 /CNW/ - Premier Gold Mines
Limited (TSX-PG) is pleased to provide an update summarizing 13
new drill hole results from the Company's 100%-owned Hasaga Project
located at Red Lake, Ontario. The
2018 program is primarily focused on infill and expansion of
mineralization within the C-Zone and D-Zone target areas. Table 1
summarizes the highlights of these results.
The Hasaga Property is located in the Red Lake Greenstone Belt
(RLGB), an Archean-aged greenstone belt within the Uchi
Sub-province of the Superior Structural Province. The Red Lake district has produced nearly 29
million ounces of gold from multiple mineralization settings. Gold
mineralization at the Hasaga Property occurs as quartz-veinlet
stockworks veinlet arrays hosted predominantly within the Dome
Stock (a granodioritic intrusion) and the nearby Hasaga Porphyry, a
quartz-porphyry dike that occurs within a major shear-zone in the
Balmer Assemblage. The C-Zone occurs immediately down-plunge
of the past producing Hasaga and Howey gold mines that collectively
produced more than 600,000 ounces of gold between 1930 and
1952.
Figure 1 is a long section view displaying the pierce points of
intercepts drilled in the 2017 - 2018 programs including details of
select holes released today.
C-Zone Target Area
The drilling undertaken at the C-Zone target area includes a
total of 13 holes and 9,816 metres of drilling in 2018. These
results are being integrated into updated models expected to
support a mineral resource estimate for the C-Zone in early
2019.
Seven preliminary conclusions drawn from ongoing work at the
C-Zone include:
- Hole HMP176W3, which includes 39.0 metres (23.4 metres true
width) grading 5.69 g/t gold, suggest that potential to further
expand this mineralization at depth is excellent. The intercept
is contained within 67 metres of mineralization grading 4.02 g/t
gold.
- The "C-Zone" discussed in earlier press releases has been
modified to include the C-Zone, and the narrower and
sub-parallel C2 Zone, located some 50 metres northwest of the
C-Zone (see Figure 1).
- The C-Zone shows a sub-vertical geometry with true widths up
to 38 metres; initial modelling of the zone is using a 3-metre
minimum width, however, a significant portion of the zone is
modelled at true widths exceeding 10-metres (average true
thickness of 16m). The Timmins
West Mine in Ontario (Proven +
Probable reserves of 654,000 ounces @ 3.15 g/t Au -
http://www.tahoeresources.com ) may represent an analogue
reflecting the potential and geometry of the mineralization being
targeted at the C-Zone.
- The C-Zone is enveloped within wider, lower-grade
mineralization (C-Zone potential) that may be substantially deeper,
suggesting the potential for another higher grade body to occur at
depth.
- To date, the C2 Zone is identified by nine drill holes
together showing a sub-vertical geometry. Initial modelling of
the zone is utilizing a 3-metre minimum width.
- Drill spacing on the C-Zone is estimated at 40-metre
centres, while the C2 Zone is estimated at 60-metre centres;
additional drilling will be required to improve the confidence of
modelled grade, continuity and geometry of the mineralization.
- Core recoveries and RQD estimates on the drill core has to-date
been very high, benefitting potential future underground
development.
"We are very pleased with our success to date at Hasaga and look
forward to the next phase of exploration," commented Stephen McGibbon, Executive Vice-President of
Premier Gold Mines Ltd. "We are modelling the C-Zone mineralization
geometry with very attractive widths, suggesting that potential
future production may be amenable to highly productive and low cost
underground mining methods."
D-Zone Target Area
So far in 2018, a total of 11 holes and 8,088 metres of drilling
has been completed in the Upper D-Zone target area. No additional
drilling has been conducted in the Lower D-Zone target in 2018,
however, future drilling will prioritize this area. Drill results
in the Upper D-Zone have been mixed in 2018. Intercepts have been
widespread, but often variable in grade and width. Additional
drilling is required to resolve the greater complexity of
mineralization versus the C-Zone. Currently, the Company is
completing an outcrop stripping program designed to better
understand controls on mineralization that may be impacting the
D-Zone target area.
Overall, the US$2.8 million 2018
program has planned 20,000 metres of drilling. To date, some 19,500
metres of drilling has been completed and only a handful of pending
results remain. The Company is contemplating an expansion of the
program to continue drilling in key areas critical to the C-Zone
model interpretation and to test new targets along the Hasaga
–Buffalo corridor.
Table 1: Summary of recent exploration
results from the 2018 Deep Hasaga drill program
Hole
ID
|
Coordinates(1)
(m)
|
Azimuth/Dip
|
Elevation
(m)
|
Section
|
Comment
|
From
(m)
|
To
(m)
|
Intercept
(m)
|
True Width
(m)
|
Au
(g/t)
|
HMP174
|
441257/5651001
|
310 / -73
|
390
|
10900
|
D Zone
|
963.0
|
967.0
|
4.0
|
3.0
|
2.84
|
|
|
|
|
|
|
1019.0
|
1030.0
|
11.0
|
8.4
|
1.79
|
HMP175
|
440870/5654598
|
147 / -72
|
390
|
11000
|
D Zone
|
691.0
|
694.0
|
3.0
|
2.3
|
3.62
|
|
|
|
|
|
|
698.0
|
712.0
|
14.0
|
10.6
|
1.16
|
HMP176
|
441452/5651093
|
330 / -77
|
386
|
12100
|
C Zone
Potential
|
1040.0
|
1041.0
|
1.0
|
0.5
|
6.02
|
|
|
|
|
|
C Zone
|
1056.0
|
1058.0
|
2.0
|
1.0
|
3.67
|
|
|
|
|
|
C2
|
1140.0
|
1142.0
|
2.0
|
1.0
|
3.22
|
HMP176W1
|
441452/5651093
|
330 / -77
|
386
|
12100
|
C Zone
Potential
|
983.0
|
992.0
|
9.0
|
4.7
|
2.37
|
|
|
|
|
|
C Zone
|
1016.0
|
1021.0
|
5.0
|
2.6
|
2.68
|
|
|
|
|
|
C Zone
Potential
|
1043.0
|
1047.0
|
4.0
|
2.1
|
2.87
|
HMP176W2
|
441452/5651093
|
330 /
-77
|
386
|
12100
|
C
Zone
|
970.0
|
1006.0
|
36.0
|
19.8
|
2.66
|
|
|
|
|
|
incl; VG
|
992.0
|
1006.0
|
14.0
|
7.7
|
4.01
|
|
|
|
|
|
C2
|
1042.0
|
1043.0
|
1.0
|
0.6
|
19.40
|
HMP176W3
|
441452/5651093
|
330 /
-77
|
386
|
12075
|
C
Zone
|
945.0
|
984.0
|
39.0
|
23.4
|
5.69
|
|
|
|
|
|
incl;
VG
|
948.0
|
957.0
|
9.0
|
5.4
|
8.68
|
|
|
|
|
|
and;
VG
|
979.0
|
984.0
|
5.0
|
3.0
|
16.19
|
|
|
|
|
|
C Potential;
VG
|
1010.0
|
1012.0
|
2.0
|
1.2
|
15.89
|
HMP177
|
440871/5651597
|
147 / -66
|
385
|
11000
|
D Zone
|
560.0
|
564.0
|
4.0
|
3.0
|
3.10
|
HMP178
|
440871/5651597
|
147
/-60
|
384
|
11000
|
D
Zone
|
489.0
|
501.0
|
12.0
|
9.1
|
2.77
|
|
|
|
|
|
incl
|
489.0
|
493.0
|
4.0
|
3.0
|
4.00
|
|
|
|
|
|
|
582.0
|
599.0
|
17.0
|
12.9
|
1.64
|
HMP179
|
440820/5651587
|
148 /-61
|
383
|
10850
|
D Zone
|
626.0
|
650.0
|
24.0
|
18.2
|
0.96
|
HMP180
|
440694/5651581
|
155 / -60
|
386
|
10750
|
D Zone
|
712.0
|
716.0
|
4.0
|
3.0
|
2.02
|
HMP181
|
440694/5651581
|
155 / -54
|
386
|
10750
|
D Zone
|
598.0
|
603.0
|
5.0
|
3.8
|
0.99
|
HMP182
|
440949/5651629
|
146 / -68
|
384
|
11050
|
D Zone
|
511.5
|
514.5
|
3.0
|
2.3
|
5.36
|
|
|
|
|
|
VG
|
649.0
|
654.0
|
5.0
|
3.8
|
4.37
|
HMP183
|
440951/5651627
|
138 /-55
|
386
|
11100
|
D Zone
|
430.0
|
558.0
|
128.0
|
Porphyry
|
Pending
|
|
|
|
|
|
|
|
|
|
|
|
Abbreviations used in this press release are available by
following this link (click here).
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. 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.
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