Premier Gold Delivers 2018 Exploration Success

Premier Gold Delivers 2018 Exploration Success

by pmnationtalk on January 21, 2019246 Views

THUNDER BAY, January 21, 2019 – 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.

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