THUNDER BAY, ON, Feb. 13, 2020 /CNW/ - PREMIER GOLD MINES
LIMITED ("Premier", "the Company") (TSX: PG) (OTCPK:
PIRGF) is pleased to announce exploration is underway on the
Company's 100%-owned Hasaga Project. This program is testing the
expansion of the Hasaga "C Zone" and "D Zone" target areas where
drilling has delineated significant high-grade mineralization down
plunge of the historic Howey and Hasaga Mines that collectively
produced more than 640,000 ounces of gold between 1930 and
1957.
Highlights from Premier's exploration campaigns up to late
2018 include:
- C Zone results include 50.0 m of 9.19 g/t Au
(HMP164), 21.0 m of 12.03 g/t Au
(HMP164W3), 54.0 m of 10.94 g/t Au
(HMP151), and 67.0 m of 4.02 g/t Au
(HMP176W3)
- A near-surface mineral resource estimate was completed in
early 2017 with 1.12M ounces gold
Indicated and 0.63M ounces gold
Inferred from multiple optimized pit shells, suggesting the
potential for future open-pit mining
- A new discovery located 500 m west of the C Zone with
intercepts of 8.0 m of 9.55 g/t Au
(HMP162) and 6.0 m of 13.67 g/t Au
(HMP172)
Abbreviations used in this press release are available by
following this link (click here).
The Hasaga Property is host to the past-producing underground
Hasaga, Buffalo and Goldshore Mines. The property is being
evaluated for both near surface lower-grade for open-pit potential
as well as at depth higher-grade mineralization. Hasaga, considered
to be the most prospective undeveloped gold deposit in the
Red Lake camp by Premier, has
earmarked in excess of $4M for
20,000m of exploration drilling in
2020. The goal is to update the current mineral resource estimate
on the property, including the underground mineralization.
"Our previous drilling campaigns have confirmed the substantial
potential of this property located in the heart of one of the
world's most respected high-grade gold camps. Numerous intercepts
host common visible gold within attractive geometries," commented
Stephen McGibbon, Premier's
Executive Vice-President. "The C Zone deposit remains open at depth
and down plunge, and the 2017 D Zone discovery suggests the
presence of a significant gold deposit."
Past and future exploration are aiming to understand the western
extension of the structure that hosts the Howey and Hasaga Mines.
Premier's first hole of the 2017 campaign returned a high-grade
intercept grading 54.0 m of 10.94 g/t Au (HMP151) with
mineralization characteristic of the Hasaga Mine. Further drilling
confirmed the potential of the C Zone deposit, still wide open for
expansion.
The D Zone remains a priority for exploration, with a potential
southwest extension of the C Zone deposit. Holes HMP161 and
HMP162 were 500 m step-outs along strike from the C Zone and
intersected respectively 181.0m of 1.21 g/t Au
including narrower higher-grade intervals, and 8.0 m of
9.55 g/t Au. Gold mineralization in these holes are
associated with minor sulphide-bearing sequences and includes
visible gold within common quartz veinlet arrays like that in the C
Zone.
The current mineral resource estimate, completed in early 2017,
hosts over 1.1 million ounces of gold of Indicated material and 0.6
million ounces of gold of Inferred material. The mineralization is
potentially open-pitable. The 2020 drill program will seek to add
higher-grade, potentially underground mineable resources on the
property.
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.
Julie-Anaïs Debreil, Ph.D, 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.
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