Premier to Attend San Franciso Hard Assets Conference; November 21-22, 2009
PREMIER GOLD MINES LIMITED (PG:TSX) is pleased to announce that it will be attending the 2009 San Francisco Hard Assets Conference on November 21-22 at the San Francisco Marriott Marquis, Booth #210.
Company representatives Ewan Downie, President & CEO, and Matthew Gollat, Investor Relations, will be available to provide information relating to corporate growth including past successes and future catalysts for growth.
At 1:30 pm on Saturday November 21, 2009, in the main speaking hall (Yerba Buena Ballroom Lower B2 Level) Ewan Downie will provide a detailed corporate update where investors can learn more about the Company's world-class Hardrock Project and its upcoming open-pit NI43-101 resource estimate, Premier's core assets in the heart of the prolific Red Lake mining camp including the Rahill-Bonanza joint venture with Goldcorp and the 100% held Lennie property, and 2010 plans for PQ-North that is located on strike from Goldcorp's Musselwhite Gold Mine.
The 2009 San Francisco Hard Assets Conference is produced by International Investment Conferneces, and will be held at the Marriott Marquis, 55 Fourth Street, San Francisco, CA, 94103. Exhibit Hours will be from 8:30am - 6:30pm on Saturday the 21st & 8:30am - 5:00pm on Sunday the 22nd.
For more information on this conference, please visit www.hardassetssf.com.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
View News Release in PDF Format:
Company representatives Ewan Downie, President & CEO, and Matthew Gollat, Investor Relations, will be available to provide information relating to corporate growth including past successes and future catalysts for growth.
At 1:30 pm on Saturday November 21, 2009, in the main speaking hall (Yerba Buena Ballroom Lower B2 Level) Ewan Downie will provide a detailed corporate update where investors can learn more about the Company's world-class Hardrock Project and its upcoming open-pit NI43-101 resource estimate, Premier's core assets in the heart of the prolific Red Lake mining camp including the Rahill-Bonanza joint venture with Goldcorp and the 100% held Lennie property, and 2010 plans for PQ-North that is located on strike from Goldcorp's Musselwhite Gold Mine.
The 2009 San Francisco Hard Assets Conference is produced by International Investment Conferneces, and will be held at the Marriott Marquis, 55 Fourth Street, San Francisco, CA, 94103. Exhibit Hours will be from 8:30am - 6:30pm on Saturday the 21st & 8:30am - 5:00pm on Sunday the 22nd.
For more information on this conference, please visit www.hardassetssf.com.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
View News Release in PDF Format:
| File: | http://www.premiergoldmines.com/i/pdf/2009-11-19_NR.pdf |
| 63 KB, approx. 13 seconds at 56.6Kbps |
Premier Completes $5.5 Million Financing
PREMIER GOLD MINES LIMITED ("Premier") (TSX: PG) is pleased to announce that it has completed its previously announced private placement (the "Offering") of 1,500,000 flow-through common shares of Premier ("Flow-Through Common Shares") at a price of $3.65 per Flow-Through Common Share for aggregate gross proceeds of $5,475,000. The Offering was completed through Jones, Gable & Company Limited as agent in connection with the Offering.
Premier plans to use the gross proceeds from the sale of the Flow-Through Common Shares for exploration programs to be conducted on the Hardrock project, Red Lake projects and PQ North project in Ontario.
PREMIER is a Canadian based mineral exploration and development company focused primarily on discovering and developing gold deposits at its strategically-located Red Lake, Ontario joint venture properties. Premier continues to evaluate other high quality North American based gold projects with the strong belief that aggressive exploration in proven districts will repeatedly reward shareholders.
This press release contains "forward-looking information", within the meaning of Canadian securities legislation. Forward-looking information is based on the opinions and estimates of management and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, risks associated with the mining industry, the risk of commodity price and foreign exchange rate fluctuations, the ability of Premier to fund the capital and operating expenses necessary to achieve the business objectives of Premier, as well as those risks described in public disclosure documents filed by Premier. Due to the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors in securities of Premier should not place undue reliance on such forward-looking information.
For further information, please contact:
Ewan Downie, President
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: info@premiergoldmines.com
Web Site: www.premiergoldmines.com
View News Release in PDF Format:
Premier plans to use the gross proceeds from the sale of the Flow-Through Common Shares for exploration programs to be conducted on the Hardrock project, Red Lake projects and PQ North project in Ontario.
PREMIER is a Canadian based mineral exploration and development company focused primarily on discovering and developing gold deposits at its strategically-located Red Lake, Ontario joint venture properties. Premier continues to evaluate other high quality North American based gold projects with the strong belief that aggressive exploration in proven districts will repeatedly reward shareholders.
This press release contains "forward-looking information", within the meaning of Canadian securities legislation. Forward-looking information is based on the opinions and estimates of management and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, risks associated with the mining industry, the risk of commodity price and foreign exchange rate fluctuations, the ability of Premier to fund the capital and operating expenses necessary to achieve the business objectives of Premier, as well as those risks described in public disclosure documents filed by Premier. Due to the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors in securities of Premier should not place undue reliance on such forward-looking information.
For further information, please contact:
Ewan Downie, President
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: info@premiergoldmines.com
Web Site: www.premiergoldmines.com
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
View News Release in PDF Format:
| File: | http://www.premiergoldmines.com/i/pdf/2009-11-12_NR.pdf |
| 62 KB, approx. 13 seconds at 56.6Kbps |
Premier Expands High-Grade Open Pit Potential at Hardrock Including 1.54 Oz/Ton Gold Over 25.9 Feet
PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce drill results from the NN Zone, comprising the final results from drilling that will be used for an upcoming NI43-101 resource calculation relating to open pit style deposits on the Hardrock Project in Northwestern Ontario. Drilling has delineated multiple zones potentially amenable to open pit mining, including recently identified high-grade gold mineralization within the NN Zones. Highlights from recent drilling include the following results:
Premier intends to release the results of the initial resource estimate prior to the end of 2009. Initial drilling results during the latter stages of 2009 support Premier's belief that additional mineral resources, amenable to underground mining methods, may be delineated at depth. It is Premier's intention to aggressively pursue this style of drill target during 2010, with the goal of amending the initial mineral resource sometime after the end of the second quarter.
At Hardrock, significant potential exists for developing resources in several areas including:
Table 1 New Sub Zone Intercepts from NN Zone drilling at Hardrock
True widths estimated at approximately 70% of intersection widths NSV -- No Significant Values
Figure 1 Planview: Collar Locations From NN Zone Drilling at Hardrock
The Hardrock Project is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK) (Premier holds a 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold primarily from relatively shallow depths (600 metres) from 1938-1968. A recent hole to test the North Zone horizon below the bottom mine level at Hardrock has intersected several mineralized zones further demonstrating the potential for the project to host a multi-million ounce resource. This hole is the first deep hole completed by the joint venture. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.
Stephen McGibbon, 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 are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
- 5.26 grams per tonne gold (g/t Au; 0.15 ounces per ton) across 11.7 metres (m; 38.4 feet) in hole MM053
- 3.50 g/t Au (0.10 ounces per ton) across 36.5m (119.7 feet) in hole MM056
- 52.90 g/t Au (1.54 ounces/ton) across 7.9m (25.9 feet) in hole MM062
- 35.45 g/t Au (1.04 ounces/ton) across 3.6m (11.8 feet) in hole MM066
Premier intends to release the results of the initial resource estimate prior to the end of 2009. Initial drilling results during the latter stages of 2009 support Premier's belief that additional mineral resources, amenable to underground mining methods, may be delineated at depth. It is Premier's intention to aggressively pursue this style of drill target during 2010, with the goal of amending the initial mineral resource sometime after the end of the second quarter.
At Hardrock, significant potential exists for developing resources in several areas including:
- Open pit-style mineralization at sites where historic resources were partially delineated by previous operators, in addition to newly defined mineralization at the Tenacity, EP and Kailey Zones;
- Numerous surface and historic high-grade gold intercepts throughout the large property package that have received little to no follow-up;
- Historic resource blocks reported to remain within the mine workings, including high-grade vein targets; and,
- The main mined zones which remain open below the 600m Level.
Table 1 New Sub Zone Intercepts from NN Zone drilling at Hardrock
| Hole-ID | UTM Coordinates (m) | Dip/Azimuth (degrees) | From (m) | To (m) | Interval (m) | Grade (g/tonne) | Interval (ft) | Grade (oz/ton) | Zone |
| MM052 | 5502941N 504351E |
-45/360 | 52.5 | 54.0 | 1.5 | 3.37 | 4.9 | 0.10 | upper NN |
| 104.0 | 117.0 | 13.0 | 1.02 | 42.6 | 0.03 | NN | |||
| 162.1 | 163.6 | 1.5 | 2.16 | 4.9 | 0.06 | lower NN | |||
| MM053 | 5502990N 504351E |
-45/360 | 30.0 | 33.0 | 3.0 | 1.53 | 9.8 | 0.04 | upper NN |
| 57.0 | 68.7 | 11.7 | 5.26 | 38.4 | 0.15 | NN | |||
| MM054 | 5502964N 504217E |
-45/360 | 61.0 | 62.5 | 1.5 | 2.25 | 4.9 | 0.07 | upper NN |
| MM055 | 5502943N 504302E |
-45/360 | 15.0 | 31.5 | 16.5 | 2.24 | 54.1 | 0.07 | upper NN |
| 157.5 | 160.5 | 3.0 | 3.98 | 9.8 | 0.12 | NN | |||
| 169.5 | 171.0 | 1.5 | 1.90 | 4.9 | 0.06 | lower NN | |||
| MM056 | 5502925N 504217E |
-50/360 | 42.0 | 78.5 | 36.5 | 3.50 | 119.7 | 0.10 | upper NN |
| 158.9 | 168.3 | 9.4 | 5.16 | 30.8 | 0.15 | NN | |||
| 175.7 | 181.0 | 5.3 | 7.44 | 17.4 | 0.22 | lower NN | |||
| MM057 | 5502995N 504298E |
-45/360 | NSV | NN | |||||
| MM058 | 5502972N 504143 E |
-45/360 | 34.8 | 46.5 | 11.7 | 1.00 | 38.4 | 0.03 | upper NN |
| 134.6 | 137.1 | 2.5 | 3.27 | 8.2 | 0.10 | NN | |||
| 166.1 | 167.3 | 1.2 | 5.57 | 3.9 | 0.16 | lower NN | |||
| MM059 | 5502905N 504350E |
-45/360 | 63.0 | 69.2 | 6.2 | 1.00 | 20.3 | 0.03 | upper NN |
| 126.5 | 128.0 | 1.5 | 71.20 | 4.9 | 2.08 | x | |||
| 185.5 | 188.9 | 3.4 | 5.69 | 11.2 | 0.17 | NN | |||
| 217.0 | 222.0 | 5.0 | 2.48 | 16.4 | 0.07 | lower NN | |||
| MM060 | 5502930N 504250E |
-45/360 | 144.0 | 176.1 | 32.1 | 1.25 | 105.3 | 0.04 | NN |
| MM061 | 5502981N 504116 E |
-45/360 | 33.0 | 37.5 | 4.5 | 1.05 | 14.8 | 0.03 | upper NN |
| 96.0 | 99.0 | 3.0 | 1.20 | 9.8 | 0.04 | NN | |||
| 149.9 | 151.3 | 1.4 | 2.46 | 4.6 | 0.07 | lower NN | |||
| MM062 | 5502885N 504217E |
-47/360 | 110.2 | 111.4 | 1.2 | 1.08 | 3.9 | 0.03 | upper NN |
| 220.2 | 228.1 | 7.9 | 52.90 | 25.9 | 1.54 | NN | |||
| 245.5 | 247.5 | 2.0 | 3.52 | 6.6 | 0.10 | lower NN | |||
| MM063 | 5502915N 504290E |
-45/360 | 109.0 | 114.5 | 5.5 | 3.49 | 18.0 | 0.10 | upper NN |
| 158.5 | 160.0 | 1.5 | 18.80 | 4.9 | 0.55 | NN | |||
| 191.4 | 193.0 | 1.6 | 1.10 | 5.2 | 0.03 | lower NN | |||
| MM064 | 5502980N 504251E |
-45/360 | 41.0 | 42.0 | 1.0 | 5.60 | 3.3 | 0.16 | NN |
| MM065 | 5503005N 504185E |
-45/360 | 46.4 | 47.8 | 1.4 | 2.09 | 4.6 | 0.06 | NN |
| MM066 | 5503005N 504250E |
-45/360 | 4.2 | 6.5 | 2.3 | 13.03 | 7.5 | 0.38 | upper NN |
| 65.5 | 69.1 | 3.6 | 35.45 | 11.8 | 1.04 | NN | |||
| MM067 | 5502910N 504150E |
-50/360 | 107.0 | 108.5 | 1.5 | 15.30 | 4.9 | 0.45 | x |
| 121.1 | 123.5 | 2.4 | 4.05 | 7.9 | 0.12 | upper NN | |||
| 152.5 | 160.0 | 7.5 | 3.04 | 24.6 | 0.09 | NN | |||
| 180.5 | 182.0 | 1.5 | 2.28 | 4.9 | 0.07 | lower NN | |||
| MM068 | 5503015N 504350E |
-45/360 | 11.5 | 14.5 | 3.0 | 3.91 | 9.8 | 0.11 | NN |
| MM069 | 5503030N 504250E |
-45/360 | NSV |
True widths estimated at approximately 70% of intersection widths NSV -- No Significant Values
Figure 1 Planview: Collar Locations From NN Zone Drilling at Hardrock
The Hardrock Project is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK) (Premier holds a 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold primarily from relatively shallow depths (600 metres) from 1938-1968. A recent hole to test the North Zone horizon below the bottom mine level at Hardrock has intersected several mineralized zones further demonstrating the potential for the project to host a multi-million ounce resource. This hole is the first deep hole completed by the joint venture. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.
Stephen McGibbon, 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 are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
View News Release in PDF Format:
| File: | http://www.premiergoldmines.com/i/pdf/2009-11-11_NR.pdf |
| 300 KB, approx. 57 seconds at 56.6Kbps |
Premier - Red Lake Joint Venture to Participate in Major Underground Development Project - Discovers New Gold Horizon
PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that the Rahill-Bonanza Project joint venture, a joint venture between Premier and Red Lake Gold Mines Partnership ("RLGM"), a partnership between Goldcorp Inc. and Goldcorp Canada Ltd., is in discussions with RLGM to participate in a major underground development program that Goldcorp expects to undertake at the Red Lake Gold Mines mine complex.
High-Speed Tram
Goldcorp has announced that a trade-off study has indicated that the construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex is the favoured method to develop its Cochenour deposit. A portion of this tram may pass through, or in close proximity to, the joint venture project providing an excellent exploration platform. This tram will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake "Mine Trend". The Red Lake Gold Mine is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources.
It is expected that the joint venture, of which Premier holds a 49% interest, will fund drill bays on the south side of the tram, that could be used to drill test high potential areas, and switches that could be built in the event of possible development of the Wilmar, West Granodiorite, and Bonanza deposits located on the Rahill-Bonanza Project.
"Once completed, this plan would open up several kilometres of highly prospective geology in one of the world's most prolific high-grade gold districts" stated Ewan Downie. President and Chief Executive Officer of Premier. "Given this huge area has seen little to no previous deep exploration drilling, we are excited by the opportunity to test a number of potential geologic targets."
New Gold Horizon
Recent drilling performed by the joint venture that tested geological targets to the Bruce Channel Deposit (BCD), that is currently being developed by Goldcorp, has intersected high-grade gold in a new horizon as well as the depth and strike extension of the West Granodiorite Zone (WGZ) on the joint venture.
Drill hole PG09070 was drilled to a total depth of 1,040 metres and successfully intersected several gold-bearing zones including the WGZ and a new deep zone associated with an ultramafic rock unit. Highlights from this new hole include:
The mineralized zone has been discovered proximal to a Komatiitic Basalt (Ultramafic) rock unit with quartz-carbonate veining, and mineralization consisting of pyrite, arsenopyrite and visible gold. This geologic setting is similar to that at the Red Lake Gold Mines. This zone returned 6.78 g/t Au across 3.0m including 11.44g/t Au across 1.5m in an area that has seen almost no previous exploration and is open in all directions. This part of the joint venture Property has been previously tested by one drill hole, which also intersected gold in a similar setting. An aggressive winter drill program is being planned for 2010 to test this new horizon in addition to several other target areas on the Property including the WGZ and Bonanza Deposits that have excellent depth potential.
Recent work immediately north of the Rahill-Bonanza Project suggests that Goldcorp's Bruce Channel Deposit is hosted within a North-South fault structure that could cross onto the joint venture property. Hole PG09070 tested the northwestern portion of the Property, potentially along strike and up-dip from the projected location of the Bruce Channel Deposit. Drilling in 2010 from the ice will test this target area at depth.
The WGZ is a zone that could host significant bulk-tonnage, and/or high-grade style, gold resources south of the Cochenour mine workings. In the 1970's, the WGZ was successfully test mined on the 1300-foot Level with a grade of 3.45 g/t over widths of up to 21.3 metres. An earlier hole (PG09068A) that tested the depth potential of the WGZ also intersected high-grade gold mineralization with assays as high as 12.5 grams per tonne gold (g/t Au) across 4.5 metres (m) approximately 500 metres below the 1300 Foot Level and 250 metres below the intercept in PG09070 suggesting excellent expansion potential to this zone.
The Rahill-Bonanza joint venture property covers several kilometers of the prolific "Mine Horizon" between the Cochenour (Bruce Channel) complex to the west and the prolific RLGM complex to the east.
Pursuant to its press release dated November 4, 2009, Goldcorp discussed on its earnings conference call the Cochenour access plan. At Goldcorp's 100%-owned Cochenour deposit de-watering of the historic mine workings has started for the potential development of the Bruce Channel Deposit.
Premier remains one of the sectors most active exploration companies, with one of the largest exploration budgets in Canada. The Company will continue to define mineralization on multiple projects with approximately $20 Million to be spent over the next 15 months, an effort that is expected to result in at least one NI43-101 compliant gold resource estimate by year-end Exploration in Red Lake includes drilling on both the Rahill-Bonanza joint venture and the 100% held Lennie Project. These projects are host to some of the Red Lake District's most prospective targets.
Stephen McGibbon, 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. Core from Rahill-Bonanza is sent to Accurassay Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Red Lake Gold Mines. The company active drill programs at its Hardrock Project and PQ North Project that is strategically located on the main Musselwhite Gold Mine trend.
For further information, please contact:
Ewan Downie, President
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: info@premiergoldmines.com
Web Site: www.premiergoldmines.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
High-Speed Tram
Goldcorp has announced that a trade-off study has indicated that the construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex is the favoured method to develop its Cochenour deposit. A portion of this tram may pass through, or in close proximity to, the joint venture project providing an excellent exploration platform. This tram will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake "Mine Trend". The Red Lake Gold Mine is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources.
It is expected that the joint venture, of which Premier holds a 49% interest, will fund drill bays on the south side of the tram, that could be used to drill test high potential areas, and switches that could be built in the event of possible development of the Wilmar, West Granodiorite, and Bonanza deposits located on the Rahill-Bonanza Project.
"Once completed, this plan would open up several kilometres of highly prospective geology in one of the world's most prolific high-grade gold districts" stated Ewan Downie. President and Chief Executive Officer of Premier. "Given this huge area has seen little to no previous deep exploration drilling, we are excited by the opportunity to test a number of potential geologic targets."
New Gold Horizon
Recent drilling performed by the joint venture that tested geological targets to the Bruce Channel Deposit (BCD), that is currently being developed by Goldcorp, has intersected high-grade gold in a new horizon as well as the depth and strike extension of the West Granodiorite Zone (WGZ) on the joint venture.
Drill hole PG09070 was drilled to a total depth of 1,040 metres and successfully intersected several gold-bearing zones including the WGZ and a new deep zone associated with an ultramafic rock unit. Highlights from this new hole include:
- Near-surface shear zones assayed 3.99 grams per tonne (g/t) gold (Au) across 1.0 metres (m) and 2.19g/t Au across 1.0m.
- WGZ was intersected with assays of 2.15 g/t across 6.0 m including 6.85 g/t Au across 1.0 m.
- A new visible gold-bearing mineralized shear zone proximal to a key ultramafic rock unit returned a highlight assay of 11.44 g/t Au across 1.5m.
The mineralized zone has been discovered proximal to a Komatiitic Basalt (Ultramafic) rock unit with quartz-carbonate veining, and mineralization consisting of pyrite, arsenopyrite and visible gold. This geologic setting is similar to that at the Red Lake Gold Mines. This zone returned 6.78 g/t Au across 3.0m including 11.44g/t Au across 1.5m in an area that has seen almost no previous exploration and is open in all directions. This part of the joint venture Property has been previously tested by one drill hole, which also intersected gold in a similar setting. An aggressive winter drill program is being planned for 2010 to test this new horizon in addition to several other target areas on the Property including the WGZ and Bonanza Deposits that have excellent depth potential.
Recent work immediately north of the Rahill-Bonanza Project suggests that Goldcorp's Bruce Channel Deposit is hosted within a North-South fault structure that could cross onto the joint venture property. Hole PG09070 tested the northwestern portion of the Property, potentially along strike and up-dip from the projected location of the Bruce Channel Deposit. Drilling in 2010 from the ice will test this target area at depth.
The WGZ is a zone that could host significant bulk-tonnage, and/or high-grade style, gold resources south of the Cochenour mine workings. In the 1970's, the WGZ was successfully test mined on the 1300-foot Level with a grade of 3.45 g/t over widths of up to 21.3 metres. An earlier hole (PG09068A) that tested the depth potential of the WGZ also intersected high-grade gold mineralization with assays as high as 12.5 grams per tonne gold (g/t Au) across 4.5 metres (m) approximately 500 metres below the 1300 Foot Level and 250 metres below the intercept in PG09070 suggesting excellent expansion potential to this zone.
The Rahill-Bonanza joint venture property covers several kilometers of the prolific "Mine Horizon" between the Cochenour (Bruce Channel) complex to the west and the prolific RLGM complex to the east.
Pursuant to its press release dated November 4, 2009, Goldcorp discussed on its earnings conference call the Cochenour access plan. At Goldcorp's 100%-owned Cochenour deposit de-watering of the historic mine workings has started for the potential development of the Bruce Channel Deposit.
Premier remains one of the sectors most active exploration companies, with one of the largest exploration budgets in Canada. The Company will continue to define mineralization on multiple projects with approximately $20 Million to be spent over the next 15 months, an effort that is expected to result in at least one NI43-101 compliant gold resource estimate by year-end Exploration in Red Lake includes drilling on both the Rahill-Bonanza joint venture and the 100% held Lennie Project. These projects are host to some of the Red Lake District's most prospective targets.
Stephen McGibbon, 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. Core from Rahill-Bonanza is sent to Accurassay Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Red Lake Gold Mines. The company active drill programs at its Hardrock Project and PQ North Project that is strategically located on the main Musselwhite Gold Mine trend.
For further information, please contact:
Ewan Downie, President
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: info@premiergoldmines.com
Web Site: www.premiergoldmines.com
| File: | http://www.premiergoldmines.com/i/pdf/2009-11-06_NR.pdf |
| 315 KB, approx. 1 minute at 56.6Kbps |
Premier Expands High-Grade Zones at Hardrock - 1.45 oz/ton Gold Over 20 Feet
PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that drilling continues to delineate multiple high-grade gold zones at the Hardrock Project in Northwestern Ontario. Highlights from recent drilling include additional high-grade intersections in the High Grade North (HGN) Zone and the discovery of near-surface high-grade vein-style mineralization in the New North (NN) Zone:
Recent near-surface holes drilled in the NN Zone, located along strike (and west of) from the EP Zone, suggest the potential for defining open-pit resources with intersections up to 6.42g/t Au (0.24 oz/ton) across 22.4m (73.5 feet). Follow-up drilling continues to define broad zones of near-surface mineralization in addition to a new high-grade vein zone that has returned 39.15g/t Au (1.14 oz/ton gold) across 3.6m (11.8 feet) in hole MM048. New drill results from the NN Zone are contained in Table 1.
"This is a very significant discovery for the Hardrock Project" says Ewan Downie, President. "The NN Zone mineralization appears to be continuous with EP Zone mineralization and has the potential to expand the EP Zone open pit-type mineralization to the west, from 700-metre strike length to more than 1,100 metres in strike length."
Drilling in the SP Zone has returned multiple intersections of high-grade gold mineralization over a plunge length of approximately 900 metres with new results of up to 15.68g/t Au (0.46 oz/ton) across 3.4m (11.2 feet) intersected in MM048, when following-up previously announced intercepts of 6.60g/t Au (0.19 oz/ton) across 32.6m (107.0 feet) in hole MM014, 17.14g/t Au (0.50 oz/ton) across 7.0m (23.0 feet) in hole MM005, and 9.70g/t Au (0.28 oz/ton) across 11.8m (38.7 feet) in hole MM024 down-plunge from the historically mined SP Zone. The SP Zone was partially mined in the upper levels of the mine with 264,354 tonnes (291,428 tons) of ore mined at an average grade of 8.37g/t Au (0.244 oz/t). Intermittent historic drilling that tested the unmined down-plunge extension of the SP Zone suggests the potential to outline mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet). New drill results from the SP Zone are contained in Table 1.
Table 1 New Sub Zone Intercepts from Hardrock
True widths estimated at approximately 70% of intersection widths SL - South Limb EP Zone NL - North Limb EP Zone HGN - High Grade North Zone HGV - High Grade Vein NN - New North Zone SP - South Porphyry Zone PIT - Porphyry Hill
Ongoing work at Hardrock is testing both open pit and underground type targets. The EP and NN Zones are two of several potential open pit zones that are being detailed in preparation for the completion of a NI43-101 compliant resource calculation which is expected to be completed in Q4 2009 (initial open pit resource).
Significant potential exists for developing resources in several areas including:
Stephen McGibbon, 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 are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
- Drilling to follow-up intersections of up to 1,141.5g/t Au across 2.0m in the HGN Zone continues to define high-grade vein-style mineralization with new intercepts of up to 49.81g/t Au across 6.0m.
- Drilling at the NN Zone has intersected near-surface high-grade vein-style mineralization with intersections of up to 39.15 g/t Au across 3.6m in addition to further defining potentially open pit-style mineralization along strike from the EP Zone.
- Expansion drilling at the South Porphyry (SP) Zone continues to define high-grade mineralization with intersections of up to 15.68g/t Au across 3.4m.
Recent near-surface holes drilled in the NN Zone, located along strike (and west of) from the EP Zone, suggest the potential for defining open-pit resources with intersections up to 6.42g/t Au (0.24 oz/ton) across 22.4m (73.5 feet). Follow-up drilling continues to define broad zones of near-surface mineralization in addition to a new high-grade vein zone that has returned 39.15g/t Au (1.14 oz/ton gold) across 3.6m (11.8 feet) in hole MM048. New drill results from the NN Zone are contained in Table 1.
"This is a very significant discovery for the Hardrock Project" says Ewan Downie, President. "The NN Zone mineralization appears to be continuous with EP Zone mineralization and has the potential to expand the EP Zone open pit-type mineralization to the west, from 700-metre strike length to more than 1,100 metres in strike length."
Drilling in the SP Zone has returned multiple intersections of high-grade gold mineralization over a plunge length of approximately 900 metres with new results of up to 15.68g/t Au (0.46 oz/ton) across 3.4m (11.2 feet) intersected in MM048, when following-up previously announced intercepts of 6.60g/t Au (0.19 oz/ton) across 32.6m (107.0 feet) in hole MM014, 17.14g/t Au (0.50 oz/ton) across 7.0m (23.0 feet) in hole MM005, and 9.70g/t Au (0.28 oz/ton) across 11.8m (38.7 feet) in hole MM024 down-plunge from the historically mined SP Zone. The SP Zone was partially mined in the upper levels of the mine with 264,354 tonnes (291,428 tons) of ore mined at an average grade of 8.37g/t Au (0.244 oz/t). Intermittent historic drilling that tested the unmined down-plunge extension of the SP Zone suggests the potential to outline mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet). New drill results from the SP Zone are contained in Table 1.
Table 1 New Sub Zone Intercepts from Hardrock
| Hole-ID | UTM Coordinates (m) |
Dip/Azimuth (degrees) |
From (m) | To (m) | Interval (m) |
Grade (g/tonne) |
Interval (ft) |
Grade (oz/ton) |
Zone |
| EP117 | 5502940 N 504675 E |
-60/360 | 286.5 | 300.4 | 13.9 | 0.90 | 45.6 | 0.03 | NLB |
| 305.7 | 322.6 | 16.9 | 1.80 | 55.4 | 0.05 | NLC | |||
| 374.0 | 374.4 | 0.4 | 9.59 | 1.3 | 0.28 | HGN | |||
| EP118 | 5502910 N 504725 E |
-60/360 | 364.5 | 370.5 | 6.0 | 49.81 | 19.7 | 1.45 | NLC |
| including | 364.5 | 366.0 | 1.5 | 291.00 | 4.9 | 8.50 | NLC | ||
| MM047 | 5502968 N 504297 E |
-45/360 | 66.0 | 86.0 | 20.0 | 1.54 | 65.6 | 0.04 | NN |
| MM048 | 5502968 N 504352 E |
-45/360 | 26.8 | 30.4 | 3.6 | 39.16 | 11.8 | 1.14 | HGV |
| 106.9 | 112.2 | 5.3 | 3.09 | 17.4 | 0.09 | NN | |||
| EP119 | 5502925 N 504401 E |
-50/360 | 139.5 | 142.5 | 3.0 | 1.20 | 9.8 | 0.04 | NN |
| 208.8 | 219.0 | 10.2 | 5.67 | 33.5 | 0.17 | SLA | |||
| 337.8 | 339.6 | 1.8 | 9.40 | 5.9 | 0.27 | x | |||
| 346.2 | 355.4 | 9.2 | 1.80 | 30.2 | 0.05 | HGN | |||
| including | 353.5 | 355.4 | 1.9 | 3.95 | 6.2 | 0.12 | HGN | ||
| EP120 | 5502994 N 504402 E |
-45/360 | 47.5 | 49.0 | 1.5 | 1.79 | 4.9 | 0.05 | NN |
| MM041 | 5502675 N 504150 E |
-50/360 | 264.5 | 267.3 | 2.8 | 4.74 | 9.2 | 0.14 | SP |
| 330.5 | 334.5 | 4.0 | 4.47 | 13.1 | 0.13 | F | |||
| including | 330.5 | 331.0 | 0.5 | 24.60 | 1.6 | 0.72 | F | ||
| MM042 | 5502676 N 503950 E |
-55/360 | 285.7 | 286.7 | 1.0 | 3.84 | 3.3 | 0.11 | SP |
| 369.6 | 384.5 | 14.9 | 1.50 | 48.9 | 0.04 | F | |||
| 394.0 | 399.9 | 5.9 | 3.23 | 19.4 | 0.09 | F | |||
| MM043 | 5502630 N 504000 E |
-55/360 | 338.0 | 375.4 | 37.4 | 3.73 | 122.7 | 0.11 | SP |
| including | 348.2 | 352.0 | 3.8 | 9.49 | 12.5 | 0.28 | SP | ||
| including | 362.5 | 365.2 | 2.7 | 10.43 | 8.9 | 0.30 | SP | ||
| including | 372.0 | 375.4 | 3.4 | 15.68 | 11.2 | 0.46 | SP | ||
| MM044 | 5502689 N 503842 E |
-60/360 | 352.5 | 381.0 | 28.5 | 3.39 | 93.5 | 0.10 | SP |
| including | 363.5 | 369.9 | 6.4 | 6.48 | 21.0 | 0.19 | SP | ||
| including | 374.0 | 381.0 | 7.0 | 6.75 | 23.0 | 0.20 | SP | ||
| 409.0 | 417.0 | 8.0 | 8.57 | 26.2 | 0.25 | F | |||
| MM045 | 5502676 N 503751 E |
-60/360 | Assays pending | ||||||
| MM046 | 5502652 N 503749 E |
-60/360 | Assays pending | ||||||
| PIT022 | 5502765 N 504550 E |
-55/360 | 60.5 | 80 | 19.5 | 1.85 | 63.96 | 0.05 | PIT |
| 97 | 146.5 | 49.5 | 0.87 | 162.36 | 0.03 | SP | |||
| including | 97 | 101 | 4 | 5.75 | 13.12 | 0.17 | SPA | ||
| 213.7 | 247.5 | 33.8 | 0.69 | 110.864 | 0.02 | PIT | |||
| 490 | 491 | 1 | 7.27 | 3.28 | 0.21 | X | |||
| 552.9 | 553.2 | 0.3 | 17.8 | 0.984 | 0.52 | HGN | |||
Ongoing work at Hardrock is testing both open pit and underground type targets. The EP and NN Zones are two of several potential open pit zones that are being detailed in preparation for the completion of a NI43-101 compliant resource calculation which is expected to be completed in Q4 2009 (initial open pit resource).
Significant potential exists for developing resources in several areas including:
- Open pit-style mineralization at sites where historic resources were partially delineated by previous operators, in addition to newly defined mineralization at the Tenacity, EP and Kailey Zones;
- Numerous surface and historic high-grade gold intercepts throughout the large property package that have received little to no follow-up;
- Historic resource blocks reported to remain within the mine workings, including high-grade vein targets; and,
- The main mined zones which remain open below the 600m Level.
Stephen McGibbon, 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 are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.
For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site: www.premiergoldmines.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
| File: | http://www.premiergoldmines.com/i/pdf/2009-10-27_NR.pdf |
| 114 KB, approx. 22 seconds at 56.6Kbps |