The West Granodiorite Zone ('WGZ") is located west of, and along strike from the Wilmar Zone, and was historically viewed as a bulk-tonnage (2-3g/t Au) target. The current program, consisting of 6 holes, was designed to attempt to identify higher-grade mineralization within the core of the WGZ. This drilling has successfully returned several significant high-grade intersections including 29.9 g/t Au across 0.8 meters and 12.2 g/t Au across 2.9 meters.
Drilling has been activated on the "Mine West" target, located immediately west of, and along strike from, the RLGM complex. A fourth drill has been mobilized to begin deep drilling at the Bonanza deposit. The Mine West drilling is designed to test the western extension of the ultramafic rock unit that is host at Red Lake Gold Mines and the on-strike extension of the "S and F Zones" at the mine. Drilling planned at Bonanza will target 1000m below the deepest intercepts to date with the intent of demonstrating continuity of mineralization to 1600m below surface. Additional drilling at Bonanza will consist of in-fill and expansion drilling to further define the Bonanza deposit, discovered in 2004, where previous drilling has returned numerous significant intersections to depths of less than 400 meters including 13.27 g/t Au across 19.00 meters, 8.66 g/t Au across 22.0 meters and 5.05 g/t Au across 34.95 meters. A NI 43-101 compliant mineral resource estimate is planned for Bonanza in early 2008.
Drilling also continues at the Wilmar Mine area and from the RLGM complex. Drilling at Wilmar has intersected multiple gold horizons including a new zone discovered in the hanging wall of the Wilmar Horizon. Drilling toward the Joint Venture project from the Mine complex continues with a hole collared on the 41 Level (approximately 1,875 meters or 6,150 feet below surface) of the Campbell Complex (formerly Campbell Mine) of Red Lake Gold Mines. The following table provides a summary from the first two holes that have intersected the Wilmar target horizon from the current program, additional assays are expected in the near future:
The Rahill-Bonanza Project is strategically located along the main Red Lake "Mine Trend" between the Red Lake Gold Mines to the east and the Cochenour Gold Mine and Bruce Channel discovery to the west (See Figure 1 & 2). The geological setting at Wilmar shares many similarities to the Red Lake Gold Mines, located in the same suite of rocks to the east, and the Cochenour Mine-Bruce Channel discovery to the northwest. The current drilling is part of a major, two year, exploration program ($5 Million budgeted for 2007) that will test several prospective targets on the Property.
Matt Long, Project Manager of Premier, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Core is sent to Accurassay Laboratories in Thunder Bay for Assay.
Ewan Downie, President & CEO will be giving a presentation today at 12:00pm EST in Workshop 3 at the 2007 Toronto Resource Investment Conference being held at the Metro Toronto Convention Centre, South Building, 222 Bremner Blvd. Toronto, ON. You are also invited to visit Premier Gold Mines Limited at booth #414. For more information on this or other shows hosted by Cambridge House International Inc., visit www.goldshow.ca.
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Premier Gold Mines Ltd.
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EXPLORATEUR |
CODE : PG.TO |
ISIN : CA74051D1042 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Premier Gold Mines est une société d’exploration minière d'or basée au Canada. Premier Gold Mines détient divers projets d'exploration au Canada et au Mexique. Ses principaux projets en exploration sont HARDROCK, GERALDTON, ARGOSY, RAHILL-BONANZA, EAST BAY, RAIN, PQ NORTH et LENNIE au Canada et SADDLE GOLD au Mexique. Premier Gold Mines est cotée au Canada. Sa capitalisation boursière aujourd'hui est 596,5 millions CA$ (474,8 millions US$, 399,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 08 avril 2011 à 8,00 CA$, et son plus bas niveau récent le 20 mars 2020 à 0,85 CA$. Premier Gold Mines possède 201 530 000 actions en circulation. |