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New results include 9.19 g/t Au across 50.0 metres & 12.03 g/t Au across 21.0m THUNDER BAY, ON , Dec. 12, 2017 /CNW/ - Premier Gold Mines Limited (TSX-PG) is pleased to provide a summary of results from the 2017 exploration program at the Company's 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario . This program is targeting potential higher-grade gold mineralization along the Hasaga Deep Target trend at depth, proximal to historic results and includes new wedged holes from historic drill sites. Highlights from the 2017 exploration campaign include: - New C-Zone delineation results include HMP 164 with 9.19 g/t Au across 50.0m and HMP 164-W3 with 12.03 g/t Au across 21.0m .
- Previously reported C-Zone results include HMP 151 with 10.94 g/t Au across 54.0m and HMP 17-88-02-W2 grading 22.56 g/t Au across 7.0m .
- A mineral resource estimate was released earlier in the year of 1.12M ozs gold Indicated and 0.63M ozs gold Inferred from multiple optimized pit shells, suggesting widespread near surface mineralization having potential for future open pit mining.
- A new discovery located 500-metres west of the C-Zone includes HMP 162 grading 9.55 g/t Au across 8.0m and highlights some two kilometres of underexplored property (Hasaga Deep Target) west of Hasaga to the Buffalo mine.
Figure 1 below is a 3D-rendering of the Hasaga Property that profiles the multiple locations of the 2017 mineral resources estimate, the C-Zone delineation target and the new discovery some 500m west of the C-Zone. A comprehensive table of assay highlights from the 2017 Hasaga Deep drill program is summarized in Table 1. Abbreviations used in this press release are available by following this link (click here). Exploration Program Overview The Hasaga Property is host to the past-producing Hasaga and Buffalo and Goldshore Mines and is being evaluated for both lower grade, open-pit potential as well as higher grade mineralization that may occur at depth. Premier considers Hasaga to have similar exploration potential to other historic mining camps in Ontario , where gold resources have been discovered at the site of past-producing mines. The 2017 exploration program was focused on testing the potential for deeper, higher-grade mineralization in the Hasaga porphyry, which occurs along a two-kilometre corridor between the Hasaga and Buffalo mines and is proximal to a major regional unconformity that separates the Balmer and Confederation-aged rock assemblages. This unconformity is an important component thought critical to the formation of the world class gold deposits in Red Lake currently being mined by Goldcorp Inc. "Our latest results include high grade intercepts with attractive geometries and common visible gold." commented Stephen McGibbon , Premier's Executive Vice-President on the Company's C-Suite Blog (http://www.premiergoldmines.com/news/c-suite-blog). "The large step-out holes drilled with HMP 161 and HMP 162 included extensive alteration similar to the C Zone some 500 metres to the east." View original content with multimedia: http://www.newswire.ca/en/releases/archive/December2017/12/c5591.html |
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Premier Gold Mines Ltd.
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EXPLORATION STAGE |
CODE : PG.TO |
ISIN : CA74051D1042 |
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Premier Gold Mines is a gold exploration company based in Canada. Premier Gold Mines holds various exploration projects in Canada and in Mexico. Its main exploration properties are HARDROCK, GERALDTON, ARGOSY, EAST BAY, RAHILL-BONANZA, SADDLE GOLD, RAIN and NEWMAN-MADSEN in Canada and SANTA TERESA in Mexico. Premier Gold Mines is listed in Canada. Its market capitalisation is CA$ 596.5 millions as of today (US$ 474.8 millions, € 399.1 millions). Its stock quote reached its highest recent level on April 08, 2011 at CA$ 8.00, and its lowest recent point on March 20, 2020 at CA$ 0.85. Premier Gold Mines has 201 530 000 shares outstanding. |