Includes 39.6 m of 17.11 g/t
Au
THUNDER BAY, ON, Sept. 21, 2020 /CNW/ - Premier Gold Mines
Limited (TSX: PG) (OTCPK: PIRGF) ("Premier", "the
Company") is pleased to announce positive drill results from
expansion drilling at the El Nino underground mine on the
Company's 40%-owned South Arturo Property, located in the Carlin
Trend of Nevada. The South Arturo
Mine is a joint venture between Premier and Nevada Gold Mines LLC.
These step-out drill results are part of a campaign of 25 holes
(3,500 m) designed to substantially increase the extent of
known mineralization at depth.
Highlight intercepts from the ongoing drill program include:
- 39.6 m of 17.11 g/t Au includes
21.3 m of 24.75 g/t Au
(SER20019)
- 100.6 m of 5.73 g/t Au includes
13.7 m of 8.52 g/t Au (SER20018)
- 41.1 m of 7.37 g/t Au includes
13.7 m of 11.83 g/t Au
(SEC20003)
- 32.0 m of 7.65 g/t Au includes
10.7 m of 14.83 g/t Au
(SER20017)
Additional results from the 2020 drilling campaign are
pending.
Abbreviations used in this press release are available by
following this link (click here).
"El Nino has returned excellent grade and width intercepts
in 2020 that bode well for the future of the mine", stated
Peter Van Alphen, Chief Operating
Officer of Premier. "We are hopeful to see an increase in year-end
reserves and resources based on these successes that will provide
for an expanded mine life. The deposit remains open at depth and
along strike".
The El Nino Mine is located on the northern end of the
prolific Carlin Trend. As at June 30,
2020, production at El Nino for the year had exceeded
550 tonnes per day at 8.90 g/t Au (100% basis) resulting in
11,495 ounces of production attributable to Premier and supporting
all-in sustaining costs (AISC) of $1,031 per ounce sold. Since declaring commercial
production in October 2019, the mine
has maintained strong performance.
El Nino is a Carlin-type
deposit hosted in a silica-sulphide breccia within the Rodeo Creek
formation at the contact with the Bootstrap limestone. Exploration
drilling in 2020 is testing the down-plunge extent of
mineralization at intersections of favorable structures, where
high-grade ore often resides. To-date, the results of this campaign
(see Table 1 and Figure 1) indicate the ore body remains
open to the east and along strike north and south.
The 2020 program at El Nino includes both in-fill and
step-out drilling from underground drill stations proximal to
existing mine areas and at depth. The irregularly shaped
mineralization mapped from mining excavations suggests true widths
are likely 60% to 80% of the lengths summarized in Table 1.
The intercept summarized for hole SER20025 may be tracing
sub-parallel to its host structure.
Additional drilling is currently underway at targets proximal to
the proposed Phase 1 and Phase 3 pit projects and results
are expected to be received in the fourth quarter. Following the
2020 campaign, a revised mineral resource estimate will be
completed.
Table 1 – 2020 Drill Results from
El Nino
Hole
ID
|
Type
|
From m
|
To m
|
Length m
|
Au g/t
|
Length ft
|
Au oz/ton
|
SEC20003
|
Core
|
54.9
|
62.5
|
7.6
|
7.99
|
25.0
|
0.23
|
|
and
|
70.1
|
111.3
|
41.1
|
7.37
|
135.0
|
0.21
|
|
including
|
77.7
|
91.5
|
13.7
|
8.52
|
45.0
|
0.35
|
SER20006
|
RC
|
89.9
|
105.2
|
15.2
|
5.37
|
50.0
|
0.16
|
SEC20007
|
Core
|
131.1
|
155.4
|
24.4
|
5.47
|
80.0
|
0.16
|
|
including
|
131.1
|
135.6
|
4.6
|
11.36
|
15.0
|
0.33
|
SER20012
|
RC
|
45.7
|
53.3
|
7.6
|
4.61
|
25.0
|
0.13
|
SER20016
|
RC
|
50.3
|
54.9
|
4.6
|
8.44
|
15.0
|
0.25
|
SER20017
|
RC
|
50.3
|
82.3
|
32.0
|
7.65
|
105.0
|
0.22
|
|
including
|
54.9
|
65.5
|
10.7
|
14.83
|
35.0
|
0.43
|
SER20018
|
RC
|
50.3
|
150.9
|
100.6
|
5.73
|
330.0
|
0.17
|
|
including
|
86.9
|
100.6
|
13.7
|
8.52
|
45.0
|
0.25
|
SER20019
|
RC
|
80.8
|
120.4
|
39.6
|
17.11
|
130.0
|
0.50
|
|
including
|
91.4
|
112.8
|
21.3
|
24.75
|
70.0
|
0.72
|
SER20021
|
RC
|
82.3
|
88.4
|
6.1
|
8.34
|
20.0
|
0.24
|
SER20024
|
RC
|
0.0
|
7.6
|
7.6
|
7.88
|
25.0
|
0.23
|
SER20025
|
RC
|
0.0
|
45.7
|
45.7
|
6.79
|
150.0
|
0.20
|
|
including
|
16.8
|
25.9
|
9.1
|
10.13
|
30.0
|
0.30
|
Table 2 – Collar coordinates
UTM
|
Project
|
Hole
ID
|
North m
|
East m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83
ZONE 11
|
El Nino
|
SEC20003
|
4543557
|
549463
|
1480
|
213
|
-66
|
El Nino
|
SEC20006
|
4543498
|
549512
|
1479
|
172
|
-71
|
El
Nino
|
SEC20007
|
4543499
|
549514
|
1479
|
146
|
-78
|
El
Nino
|
SER20012
|
4543508
|
549453
|
1484
|
165
|
-88
|
El
Nino
|
SER20016
|
4543508
|
549453
|
1484
|
300
|
-72
|
El
Nino
|
SER20017
|
4543508
|
549453
|
1484
|
314
|
-73
|
El Nino
|
SER20018
|
4543508
|
549453
|
1484
|
356
|
-80
|
El Nino
|
SER20019
|
4543500
|
549512
|
1479
|
012
|
-88
|
El Nino
|
SER20021
|
4543498
|
549512
|
1479
|
181
|
-45
|
El Nino
|
SER20024
|
4543368
|
549399
|
1483
|
094
|
01
|
El Nino
|
SER20025
|
4543361
|
549398
|
1483
|
109
|
01
|
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.
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.
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