THUNDER BAY, ON, Jan. 21, 2019 /CNW/ - Premier Gold Mines
Limited ("Premier" or "the Company") is pleased to
provide an update of the Company's 2018 exploration programs and
strong results from its multiple projects in Mexico, Nevada and Canada. Premier remains focused on value
creation from its asset base with success in exploration being a
fundamental driver of this value.
Exploration highlights for 2018 include:
- Positive expansion of targeted deposits at Mercedes, including
18.3 m of 38.28 g/t Au & 25.98
g/t Ag (Aida Vein) and 22.0 m of
36.65 g/t Au & 171.30 g/t Ag (Rey de Oro), and underground drilling at
Marianas
- High-grade intercepts at South Arturo including 68.6 m of 15.92 g/t Au at El Niño underground and
35.7 m of 16.54 g/t Au at Phase 3 Pit
target
- Acquisition of Rodeo Creek Property on the Carlin Trend,
adjacent to South Arturo Property
- Joint venture agreement at McCoy-Cove with Barrick Gold, property-wide exploration program
and highlight of a high-grade (Alpha Trend) surface rock chip of
105.00 g/t Au & 51.00 g/t Ag
- Multiple discoveries of high-grade mineralization on the
McCoy-Cove Property: The Polymetallic Discovery east of the Cove
pit including 2.7 m of 5.00 g/t Au,
410.0 g/t Ag, 5.7% Zn & 5.0% Pb and the Piezo Trend intercepts
including 4.6 m of 12.69 g/t Au
- Option secured to acquire a 100% interest in the Rye Property
in Nevada from Barrick Gold
- Strong results in the delineation of the C-zone at the Hasaga
including 39.0 m of 5.69 g/t Au in
the final hole of the 2018 program
- 20,000 m of RC drilling campaign
completed and Federal EA approval for Hardrock Project at
Greenstone Gold
"Premier has completed a successful 2018 exploration and
development campaign" commented Stephen
McGibbon, Executive Vice-President of Corporate &
Project Development. "Highlights include the initiation of two new
mine developments at South Arturo, and a goal to replace mined
reserves and grow our mineral resource base with new discoveries
that will become our mines of the future."
Mercedes Mine, Sonora State, Mexico
The 2018 exploration program at Mercedes was focused on the
expansion of high-grade, near-infrastructure targets that may be
upgraded to mineral resources and mineral reserves while also
supporting the development of new deposits to increase mining
flexibility and productivity. Toward this end, 280 greenfield and
brownfield drillholes representing 40,720 m were drilled. The
highlights of this exploration campaign include:
- Definition of the near surface, high grade Aida Vein including
18.3 m of 38.28 g/t Au & 25.98
g/t Ag
- High grade mineralization at Rey de Oro including 22.0
m of 36.65 g/t Au & 171.30 g/t Ag
- Initiating of underground drilling at Marianas
The Mercedes gold and silver mine is 100% Premier-owned and
located in State of Sonora,
Mexico. Operations are exploiting low-sulfidation quartz veins and
quartz-veinlet stockworks utilizing underground mining methods at
an ore extraction rate of approximately 2,000 tonnes per day.
During 2018, the Mercedes team focused on steadily improving
operational performance. This resulted in higher production and
lower mining costs in the second half of the year.
Testing for mineralization parallel to the Mercedes,
Barrancas and Lagunas veins
successfully defined the Aida Vein early in the year
(Figure 1). The Aida Vein is a near-surface, high-grade vein
in the upper part of the main Mercedes vein system. Some of the
best intercepts include (Table 1):
- 18.3 m of 38.28 g/t Au &
25.98 g/t Ag (UG-BH18-065)
- 12.0 m of 37.29 g/t Au &
32.96 g/t Ag (M18-873D)
Underground drilling has confirmed the expansion of a high-grade
vein system at Rey de Oro
(Figure 1) in proximity to existing mine infrastructure. The
success in drilling the Rey de Oro
target impacted minesite grades positively during Q3 and Q4 in 2018
and reflects the substantial prospects that exist to extend the
Mercedes mine life. Some of the highlights of exploration at Rey de
Oro include (Table 1):
- 22.0 m of 36.65 g/t Au &
171.30 g/t Ag (UG-RD018-006)
- 20.5 m of 8.10 g/t Au &
121.32 g/t Ag (UG-RD018-007)
A ramp was advanced from the Lagunas mine workings during the
year to provide access for underground drilling at Marianas which
started in late Q4-2018. The significant Marianas exploration
program, expected to consist of more than 20,000 m of
drilling, is aimed at adding mineral reserves and mineral
resources. Previous drilling returned multiple intercepts
suggesting a zone containing higher than current reserve
grades.
Exploration in 2019 will include greater focus on testing these
high potential targets for new veins on the property, while also
replacing or expanding mineral resources and mineral reserves.
During Q1, two principal areas are ranked as highest priority:
northwest along the Mercedes Trend at Marianas and along the
Diluvio-Lupita corridor. Marianas represents the down-plunge
extension of the main Mercedes mine trend (Figure 2) and the
highest priority exploration target at Mercedes. The geological and
structural understanding of the property supports these high
potential areas. Currently 4 drills are active, and one more will
be added shortly.
Table 1: Highlighted intercepts from the
2018 exploration program at Mercedes Mine.
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True
Width
m
|
Au g/t
|
Ag
g/t
|
UG-BH18-065
|
Aida Vein
|
108.0
|
126.3
|
18.3
|
12.1
|
38.28
|
25.98
|
including
|
Aida Vein
|
108.0
|
120.2
|
12.2
|
8.1
|
55.10
|
30.47
|
M18-873D
|
Aida Vein
|
176.1
|
188.1
|
12.0
|
7.4
|
37.29
|
32.96
|
including
|
Aida Vein
|
179.9
|
185.1
|
5.2
|
3.1
|
75.35
|
50.31
|
M18-864D
|
Aida Vein
|
135.5
|
141.5
|
6.0
|
4.1
|
12.04
|
8.91
|
including
|
Aida Vein
|
137.0
|
138.0
|
1.0
|
0.9
|
52.50
|
13.00
|
|
Aida Vein
|
167.0
|
170.0
|
3.0
|
2.5
|
4.84
|
38.50
|
UG-RDO18-002
|
Rey de Oro
|
77.8
|
86.9
|
9.1
|
7.2
|
8.77
|
259.46
|
|
Rey de Oro
|
94.0
|
110.6
|
16.6
|
11.5
|
6.21
|
101.83
|
including
|
Rey de Oro
|
103.4
|
106.8
|
3.4
|
2.6
|
20.10
|
82.08
|
UG-RDO18-006
|
Rey de Oro
|
89.2
|
111.1
|
22.0
|
15.5
|
36.65
|
171.30
|
including
|
Rey de Oro
|
89.2
|
105.7
|
16.6
|
11.1
|
47.94
|
200.16
|
UG-RDO18-007
|
Rey de Oro
|
62.5
|
83.1
|
20.5
|
18.6
|
8.10
|
121.32
|
including
|
Rey de Oro
|
70.2
|
73.2
|
3.1
|
2.9
|
14.91
|
107.87
|
including
|
Rey de Oro
|
79.3
|
81.8
|
2.5
|
2.4
|
30.70
|
165.50
|
UG-RDO18-008
|
Rey de Oro
|
91.4
|
100.6
|
9.2
|
6.8
|
8.33
|
67.66
|
including
|
Rey de Oro
|
94.6
|
97.6
|
3.1
|
2.8
|
16.10
|
113.45
|
UG-RDO18-012
|
Rey de Oro
|
71.9
|
73.0
|
1.1
|
0.8
|
17.00
|
321.00
|
|
Rey de Oro
|
76.0
|
84.3
|
8.3
|
6.1
|
4.47
|
138.47
|
UG-RDO18-013
|
Rey de Oro
|
84.7
|
114.4
|
29.7
|
13.5
|
12.64
|
240.06
|
UG-RDO18-015
|
Rey de Oro
|
119.0
|
119.6
|
0.6
|
0.4
|
3.85
|
42.00
|
including
|
Rey de Oro
|
128.1
|
129.6
|
1.5
|
1.1
|
6.56
|
48.00
|
All composites are
previously released by the Company. Collar coordinates and drill
orientations are provided at the end of this release.
|
South Arturo, Nevada,
USA
The South Arturo Project, located in the Carlin Trend of
Nevada, is a joint venture between
Premier (40%) and Barrick Gold
(60%). The South Arturo Phase 2 pit was one of the lowest cost
mining operations in the world with 2017 AISC of US$351/oz. In 2018, the principal activities
included the initial construction of Phase 1 open pit and the
El Niño underground development and drilling (2018 assay results
remain pending). The highlights of 2018 exploration program at
South Arturo include:
- Exploration program led to expand the potential heap leach
mineralization
- Drill testing of the highly prospective target, East Dee
Target, located near the P1 pit
Barrick processes ore from South Arturo at the Goldstrike
facility located approximately 5 km to the
south.
The construction of Phase 1 Open Pit was initiated mid-year
with material being stockpiled for a potential heap leach project
(Figure 3). Drilling in 2018 (results pending) has been
focused on expanding near-pit mineralization and testing the nearby
East Dee target that has the potential to represent an additional
mining opportunity on the property. Potential future
Phase 3 Open Pit development is supported by the 2017 drilling
including high-grade intercepts (Table 2). The zone remains
open down-plunge. Results include:
- 36.2 m of 7.95 g/t Au
(ART17-01C)
- 35.7 m of 16.54 g/t Au
(ART17-10C)
The ramp for the El Niño Underground Project is under
construction with planned gold production in late 2019. El Niño is
the down-plunge extension of the Phase 2 pit. There are still
areas along strike and at depth that remain open. Several highly
prospective targets in and around the mine are being evaluated with
the intent of extending the mine life through drilling,
including:
- 68.6 m of 15.92 g/t Au
(EL17-10)
- 45.7 m of 21.68 g/t Au
(EL17-12)
The 2017 exploration results will support mine development in
four principal zones: El Niño – Near Pit, El Niño – Upper Zone,
Phase 3 Pit and South Hinge Target. Several high-grade
intercepts results are shown Table 2. Another highly
prospective target is East Dee, located near the P1 pit, was the
focus of further exploration during 2018.
Table 2: Highlights intercepts at South
Arturo from Phase 3 Pit, El Nino near pit and Upper zone
areas, and South Hinge.
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True
Width
m
|
Au
g/t
|
Au
oz/ton
|
ART17-01C
|
Phase 3
Pit
|
204.3
|
240.5
|
36.2
|
30.8
|
7.95
|
0.23
|
including
|
Phase 3
Pit
|
212.2
|
218.2
|
6.0
|
5.1
|
11.31
|
0.33
|
ART17-04C
|
Phase 3
Pit
|
223.8
|
303.6
|
79.7
|
67.8
|
5.21
|
0.15
|
Including
|
Phase 3
Pit
|
223.8
|
267.3
|
43.5
|
36.9
|
6.99
|
0.20
|
ART17-10C
|
Phase 3
Pit
|
223.4
|
259.1
|
35.7
|
30.3
|
16.54
|
0.48
|
including
|
Phase 3
Pit
|
224.9
|
240.2
|
15.2
|
13.0
|
28.26
|
0.82
|
Z3
|
Phase 3
Pit
|
323.4
|
392.4
|
69.0
|
58.7
|
3.05
|
0.09
|
including
|
Phase 3
Pit
|
328.0
|
341.7
|
13.7
|
11.7
|
5.58
|
0.16
|
EL17-10
|
El Niño - Near
Pit
|
15.2
|
83.8
|
68.6
|
58.3
|
15.92
|
0.46
|
including
|
El Niño - Near
Pit
|
32.0
|
79.2
|
47.2
|
40.2
|
22.05
|
0.64
|
EL17-12
|
El Niño - Near
Pit
|
25.9
|
71.6
|
45.7
|
38.9
|
21.68
|
0.63
|
including
|
El Niño - Near
Pit
|
48.8
|
62.5
|
13.7
|
11.7
|
43.84
|
1.28
|
ELN17-MX-06
|
El Niño - Upper
Zone
|
89.9
|
132.6
|
42.7
|
36.3
|
11.21
|
0.33
|
including
|
El Niño - Upper
Zone
|
99.1
|
106.7
|
7.6
|
6.5
|
32.47
|
0.95
|
ELN17-MX-14
|
El Niño - Upper
Zone
|
111.3
|
172.2
|
61.0
|
51.8
|
6.96
|
0.20
|
including
|
El Niño - Upper
Zone
|
123.4
|
138.7
|
15.2
|
13.0
|
15.94
|
0.47
|
BD17-06C
|
South Hinge – Near
Surface
|
17.7
|
26.1
|
8.4
|
7.2
|
2.23
|
0.07
|
BD17-08C
|
South Hinge – Near
Surface
|
0.0
|
23.6
|
23.6
|
20.1
|
1.17
|
0.03
|
True width is
estimated to be 85% of core length. All composites are previously
released by the Company. Collar coordinates
and drill orientations are provided at the end of this
release.
|
Rodeo Creek, Nevada
Premier has entered into an Option Agreement to acquire a 100%
interest in the Rodeo Creek Property. It is strategically located
along the Bootstrap Reef/Margin, approximately 10 km northwest
from Barrick's Goldstrike Operations and abuts against
Halliburton's Rossi Barite mine at its north boundary
(Figure 4). By adding this project to its portfolio, Premier
is increasing its exposure in the prolific Carlin Trend of
Nevada.
The Rodeo Creek Property (31 Claims – 510 acres) exhibits many
of the stratigraphic, structural and geochemical attributes that
define the mineralized bodies found along the Carlin Trend.
Significantly, a historic geochemical survey on the property
confirms several of the fault structures encountered at Rodeo Creek
coincide with strong arsenic-antimony geochemical signatures. In
2019, a campaign of soil sampling and geological mapping will be
conducted, along with a historic data compilation. Drilling will be
conducted on the priority targets identified.
McCoy-Cove Project, Lander County,
Nevada
The McCoy-Cove Property is located along the Battle
Mountain-Eureka Trend in Nevada.
Past production from the property includes some 3.3 million
ounces gold and more than 108 million ounces silver.
At the beginning of 2018, Premier announced an agreement with
Barrick Gold where Barrick will have
an option to earn a 60% interest in the exploration portion of the
McCoy-Cove Property by spending US$22.5 Million before June 30, 2022. In 2018, Barrick spent a little
over US$4 million at the property. Premier will retain 100%
ownership over the Cove Deposit portion (referred as the Cove Carve
Out) of the McCoy-Cove Property that includes the high-grade Helen,
Gap, 2201 and CSD Deposits (Figure 5).
The 2018 exploration program at McCoy-Cove was focused on
finding new targets along known-trends. For this purpose, 19
exploration drillholes representing 12,506 m were drilled both
inside and outside the Carve out. Additionally, 6 piezometres were
installed in boreholes assayed on 5 ft intervals. The
highlights of this exploration campaign include:
- Earn-In agreement with Barrick to earn a 60% interest in the
McCoy-Cove Property, excluding that portion hosting the Cove, Helen
and Gap deposits (Cove Carve Out) for which Premier will retain
100% ownership
- PEA Results on the Cove Carve Out concludes robust economics
with low up-front capital
- High Grade intercepts identify the potentially extensive Piezo
Trend discovery including 4.6 m of
12.69 g/t Au (HE18-02).
- High Grade intercept suggesting a Polymetallic discovery east
of the Cove pit including 2.7 m of
5.00 g/t Au, 410.0 g/t Ag, 5.7% Zn and 5.0% Pb (PB18-02)
- Rock chip sampling defining the Alpha Trend including 105.0 g/t
Au (51.0 g/t Ag) & 40.3 g/t Au (60.3 g/t Ag)
Importantly, exploration results from the joint venture and Cove
Carve Out together confirm that a greater than 4 km footprint
of Carlin-style chemistry remains open at McCoy-Cove. In addition,
the Favret Formation, a highly receptive limestone host of the
high-grade Carlin-style mineralization at McCoy-Cove remains
largely untested on a property-wide basis.
A Preliminary Economic Assessment (PEA) was completed for the
Cove Carve Out project, which sets it as an advanced-exploration
project. The project contains four structurally controlled
mineralized zones within the Triassic sedimentary package
(Figure 5). The highlights of the PEA include: Indicated
mineral resources of 1,045,000 tons at 0.327 oz/t Au &
0.861 oz/t Ag for 342,000 ounces of gold & 900,000 ounces
of silver and Inferred mineral resources of 4,037,000 tons at
0.327 oz/t Au & 0.609 oz/t Ag for 1,322,000 ounces of
gold & 2,457,000 ounces of silver. This mineral resource would
support life of mine gold production of 740,000 ounces during 8
years of operations (based on assumptions made in the PEA). The PEA
concludes the potential for robust economics (after-tax NPV5 of
$142.0 million, and an after-tax
internal rate of return of 48%) to exist at the Cove Carve Out with
low pre-production capital costs. Based on these positive results,
a hydrological flow study and additional permitting is being
completed with a view that the Cove Deposit could become Premier's
next 100%-owned mine development.
The 2018 exploration program has identified the potential for
two "trends" parallel to the Helen-Gap-CSD trend: the Piezo Trend
and the Alpha Trend (Figure 5). By drilling a piezometre
hole 320 m south of the main deposit, Carlin-style
mineralization was intersected in similar host rock that
returns 4.6 m of 12.69 g/t Au (HE18-02,
Table 3). It is thought to be a parallel trend that may have
similar potential as the Helen-Gap-CSD trend. This identifies the
Piezo Trend as an attractive exploration target occurring in
proximity to the Carve Out boundary and may trend onto the
100%-held Premier ground where an intercept in HE18-01G returned
3.0 m of 8.04 g/t Au (Figure 5).
At the McCoy-Cove JV, initial exploration included a
property-wide program geochemical and rock chip sampling program to
upgrade historic information. This surface work identified a
prominent rock chip anomaly at the Alpha Trend. The trend is
parallel to the Piezo Trend and the Helen-Gap-CSD trend. The
sampled rock chips have high-grade gold values up to 105.0 g/t
Au (51 g/t Ag) & 40.3 g/t Au (60.3 g/t Ag). Some
samples also returned elevated Pb-Zn: 8.49 g/t Au (8.04% Pb,
1.21% Zn, 242 g/t Ag).
The Polymetallic Discovery occurs along the Beacon fault, which
shares similarity to the Lighthouse fault that is associated with
both the polymetallic mineralization in the Cove pit and the 2201
Zone. The intercept returned 2.7 m of 5.00 g/t Au,
410.0 g/t Ag, 5.7% Zn & 5.0% Pb, and opens the potential
for expansion of the 2201 Zone (305,000 tons at 0.596 oz/ton
Au and 1.140 oz/ton Ag and 169,000 ozs Au and
350,000 ozs Ag, according to the PEA).
The 2018 exploration program successfully identified eleven
priority exploration targets, including new high potential trends,
on the property. Many of these targets will be the priorities for
2019 exploration.
Table 3 – Highlighted intercepts from the
2018 exploration program from McCoy-Cove Project.
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True
Width
m
|
Au
g/t
|
Ag
g/t
|
Pb
%
|
Zn
%
|
HE18-01G
|
Piezo
|
600.5
|
603.5
|
3.0
|
2.6
|
8.04
|
4.07
|
-
|
-
|
HE18-02*
|
Piezo
|
638.6
|
643.1
|
4.6
|
3.9
|
12.69
|
3.17
|
-
|
-
|
PB18-02
|
Polymetallic
|
525.8
|
530.0
|
4.3
|
3.7
|
2.64
|
3.15
|
0.00
|
0.01
|
|
Polymetallic
|
541.8
|
547.9
|
6.1
|
5.2
|
2.77
|
199.19
|
2.37
|
2.64
|
including
|
Polymetallic
|
541.8
|
544.5
|
2.7
|
2.3
|
5.06
|
410.33
|
5.00
|
5.69
|
PB18-07
|
Windy
Point
|
349.9
|
395.9
|
46.0
|
39.1
|
0.84
|
0.33
|
-
|
-
|
including
|
Windy
Point
|
364.8
|
395.9
|
31.1
|
26.4
|
1.01
|
0.35
|
-
|
-
|
|
Windy
Point
|
587.7
|
604.7
|
17.1
|
14.5
|
2.25
|
0.99
|
-
|
-
|
*RC drilling. True
width is estimated to be 85% of core length. All composites are
previously released by the Company. Collar coordinates
and drill orientations are provided at the end of this
release.
|
Goldbanks Project, Pershing County,
Nevada
Premier entered into a joint venture earn-in agreement with
Kinross in 2016 to acquire a 50%
interest in the Goldbanks Project, located in Pershing County, Nevada. Goldbanks (875 Claims
– 1,600 acres) has several significant targets on the property
including the high-grade Golden Devil discovery and the Main Zone
and KW open pit deposits.
The exploration program in 2018 tested two priority targets
known as Hawkeye and Golden Devil. The drilling program completed
this year represents some 5,500 m over 14 holes. The focus for
the Golden Devil target was to follow-up for "Midas-style"
mineralization veining proximal to the Golden Devil fault. Although
the drillholes intersected high-grade gold and silver
mineralization, the continuity of the mineralization was not
established. These results include:
- 2.4 m of 2.2 g/t Au & 233 g/t
Ag and 1.2 m of 4.4 g/t Au & 464
g/t Ag (GB18-02)
- 0.9 m of 25.30 g/t Au & 1,379
g/t Ag (GB-18-04)
Although the intensity of alteration at Hawkeye suggested
potential, a late-season RC-drilling program did not return any
significant gold mineralization. The team is continuing to evaluate
the exploration results.
Rye Project, Pershing County,
Nevada
Early in 2018, Premier and Barrick concluded an option to
acquire a 100% interest in Rye Vein Property ("Rye"), subject to a
back-in right by Barrick, by spending US$3.0 Million in exploration before
December 31, 2019. The Rye Property
is adjacent to the Goldbanks Property option in Pershing County, Nevada. Rye is a
gold-bearing, low-sulfidation epithermal vein system with the
potential to host "bonanza-grade" gold mineralization.
During 2018, the focus was to complete the compilation of
historical data and to define targets for exploration. Rye Project
obtained its permits in 2018 and Premier is pleased to announce
that a plan of operation is set for 2019, details of which will be
released soon. The Rye vein is the largest known vein of this type
in the district having been traced on surface over a strike length
of more than 2.5 km with mapped widths of up to 30 m
(Figure 6). Previous shallow drilling returned numerous
significant intercepts with gold grades up to 139.2 g/t
Au.
Hasaga, Ontario,
Canada
The 2018 exploration program at Hasaga was focused on the
delineation of the C Zone and its extension to the west towards the
D Zone. For this purpose, 24 drillholes representing 19,500 m
were drilled. The highlights of this exploration campaign
include:
- Strong results for the delineation of the C-zone including
39.0 m of 5.69 g/t Au (HMP176w3)
- High grade intercept on the D-Zone including 6.0 m of 13.67 g/t Au (HMP172)
The Hasaga Property is in the Red Lake Greenstone Belt, an
Archean-aged greenstone belt within 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 7). The
C-Zone has a sub-vertical geometry with true widths up to 38 m
(average true thickness of 16 m). The exploration program in
2018 led to high-grade intercepts including (Table 4):
- 39.0 m of 5.69 g/t Au
(HMP176w3)
- 10.0 m of 8.54 g/t Au
(HMP167)
The D-Zone is divided into the Upper and Lower zones. The Upper
zone seems to be of an extension at depth of the previously drilled
Hasaga Resource. The Lower zone exhibits interesting high-grade
intercepts with similarities to the C-Zone.
Additional drilling will be required to better define the
mineralization. Some of the highlighted intercepts include:
- 7.0 m of 3.60 g/t Au and
5.0 m of 2.88 g/t Au (HMP161)
- 3.0 m of 5.36 g/t Au and
5.0 m of 4.37 g/t Au (HMP182)
The high-grade intercepts resulting from this exploration
campaign, the historical production of the Hasaga and Howey Mines, and the knowledge of the geology of
the Red Lake area are many
arguments to assure a successful discovery at Hasaga. More drilling
is required to better understand any possible link between the
different zones at depth. Initial modelling of the C-Zone confirms
true widths exceeding 10 m.
Table 4: Highlighted intercepts from the
2018 exploration program at Hasaga.
Hole
ID
|
Target
|
From m
|
To m
|
Length m
|
True
Width
m
|
Au
g/t
|
HMP176w3
|
C-Zone
|
945.0
|
984.0
|
39.0
|
23.4
|
5.69
|
including
|
C-Zone VG
|
948.0
|
957.0
|
9.0
|
5.4
|
8.68
|
HMP169w2
|
C-Zone
|
957.0
|
980.0
|
23.0
|
19.6
|
3.57
|
including
|
C-Zone
|
968.0
|
979.0
|
11.0
|
9.4
|
5.78
|
including
|
C-Zone
|
976.0
|
979.0
|
3.0
|
2.6
|
15.88
|
HMP173
|
C-Zone
|
809.0
|
872.0
|
63.0
|
53.6
|
4.02
|
including
|
C-Zone
|
841.0
|
872.0
|
31.0
|
26.4
|
6.11
|
including
|
C-Zone
|
851.0
|
865.0
|
14.0
|
11.9
|
10.25
|
HMP167
|
C-Zone
|
770.5
|
776.0
|
5.5
|
4.7
|
7.21
|
|
C-Zone
|
798.0
|
808.0
|
10.0
|
8.5
|
8.54
|
HMP182
|
Upper-D-Zone
VG
|
649.0
|
654.0
|
5.0
|
3.8
|
4.37
|
*HMP161
|
Lower
D-Zone
|
1045.0
|
1052.0
|
7.0
|
4.1
|
3.60
|
|
Lower
D-Zone
|
1077.0
|
1095.0
|
18.0
|
10.6
|
2.21
|
|
Lower
D-Zone
|
1105.0
|
1110.0
|
5.0
|
2.9
|
2.88
|
|
Lower-D VG
|
1211.0
|
1212.0
|
1.0
|
0.6
|
19.40
|
All composites are
previously released by the Company. Collar coordinates and drill
orientations are provided at the end of this release
|
Hardrock Project, Ontario,
Canada
The 2018 exploration program at Hardrock consisted of a RC drill
program, initiated to better understand the deposit on a grade
control scale. Approximately 20,000 m of RC drilling on a
20x10m pattern were completed in 2018. Adding to this campaign, a
milestone was achieved with the Federal EA approval in December 2018.
The Hardrock Project lies within the southern sedimentary unit
of the Beardmore-Geraldton Greenstone Belt. The Hardrock deposit is
characterized by multiple horizons of magnetite-rich chert banded
iron formation within a thick sequence of interlayered
sandstone-argillite. The sequence is folded by tight to isoclinal,
regional F2 folds.
All abbreviations used in this press release are available by
following this link (click here).
Julie-Anaïs Debreil, PhD, 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 for Mercedes are from core samples sent to ALS Chemex, an
accredited mineral analysis laboratory in Vancouver, British Columbia, for preparation
and analysis utilizing both fire assay and ICP methods. In
Nevada, drill samples from Goldbanks and Cove were sent to
American Assay Laboratories in Reno,
Nevada for analysis with the analytical facility utilizing a
30 g fire assay with an ICP-OES finish for Core and RC
samples. Samples containing visible gold are submitted for screen
metallic analysis and all over-limit samples receive an automatic
gravimetric finish. At McCoy-Cove, assay samples were sent to ALS
Laboratories prep facilities located in Elko, Nevada and Reno, Nevada and analysis was performed at
their Vancouver, Canada analytical
facility utilizing 30-gram fire assay with an AA finish for Au and
ICP-MS 48 element scan from 4-acid digestion for RC and Core
samples. At South Arturo, 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 Hasaga'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 with a
respected exploration and development pipeline of precious metal
projects in proven, accessible and safe mining jurisdictions in
Canada, the United States, and Mexico.
Table 5: Collar coordinates.
Project
|
Hole
ID
|
North
m
|
East
m
|
Elevation m
|
Azimuth
|
Dip
|
Mercedes
|
UG-BH18-065
|
548978
|
3355638
|
1074
|
345
|
6
|
Mercedes
|
M18-873D
|
548801
|
3356227
|
1171
|
219
|
-51
|
Mercedes
|
UG-RDO18-002
|
552082
|
3357855
|
1063
|
025
|
5
|
Mercedes
|
UG-RDO18-006
|
552082
|
3357855
|
1062
|
008
|
3
|
Mercedes
|
UG-RDO18-007
|
552049
|
3357880
|
1060
|
230
|
4
|
Mercedes
|
UG-RDO18-008
|
552049
|
3357880
|
1060
|
022
|
-4
|
Mercedes
|
UG-RDO18-012
|
552049
|
3357880
|
1060
|
019
|
-20
|
Mercedes
|
UG-RDO18-013
|
552049
|
3357880
|
1060
|
036
|
11
|
Mercedes
|
UG-RDO18-015
|
552049
|
3357880
|
1060
|
023
|
17
|
Cove
|
HE18-01G
|
4465378
|
481959
|
1619
|
110
|
-90
|
Cove
|
HE18-02
|
4465547
|
481632
|
1670
|
089
|
-80
|
Cove
|
PB18-02
|
4465283
|
483637
|
1488
|
131
|
-79
|
Cove
|
PB18-07
|
4465977
|
480980
|
1734
|
055
|
-65
|
Goldbanks
|
GB18-02
|
4481156
|
441218
|
1702
|
041
|
-55
|
Goldbanks
|
GB18-04
|
4481157
|
441216
|
1702
|
041
|
-53
|
Hasaga
|
HMP176W3
|
5651093
|
441452
|
330
|
386
|
-77
|
Hasaga
|
HMP169_W2
|
5651094
|
441460
|
382
|
339
|
-77
|
Hasaga
|
HMP173
|
5651752
|
441156
|
384
|
147
|
-80
|
Hasaga
|
HMP167
|
5651151
|
441471
|
385
|
337
|
-70
|
Hasaga
|
HMP182
|
5651629
|
440949
|
384
|
146
|
-68
|
Hasaga
|
HMP161
|
5651647
|
440665
|
386
|
152
|
-80
|
UTM NAD27 Zone 12,
UTM NAD83 Zone 11, UTM NAD83, Zone 15
|
Table 6: Collar coordinates for South
Arturo Project
Project
|
Hole
ID
|
Latitude
|
Longitude
|
Elevation
ft
|
Azimuth
|
Dip
|
South
Arturo
|
ART17-01C
|
41.0313
|
-116.4208
|
5720
|
333
|
-84
|
South
Arturo
|
ART17-04C
|
41.0321
|
-116.4207
|
5791
|
305
|
-73
|
South
Arturo
|
ART17-10C
|
41.0313
|
-116.4208
|
5719
|
292
|
-81
|
South
Arturo
|
EL17-10
|
41.0390
|
-116.4140
|
5017
|
000
|
-10
|
South
Arturo
|
EL17-12
|
41.0391
|
-116.4141
|
5018
|
344
|
-10
|
South
Arturo
|
ELN17-MX-06
|
41.0396
|
-116.4127
|
5269
|
240
|
-80
|
South
Arturo
|
ELN17-MX-14
|
41.0398
|
-116.4131
|
5254
|
052
|
-55
|
South
Arturo
|
BD17-06C
|
41.0374
|
-116.4269
|
5285
|
218
|
-90
|
South
Arturo
|
BD17-08C
|
41.0373
|
-116.4269
|
5286
|
151
|
-90
|
WGS84, elevation
in ft
|
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, 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