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Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

Today we released recent exploration results from both Mercedes and Hasaga. We are very pleased that that both projects continue to generate such compelling drill results.At Hasaga, the C-Zone and D-Zone targets are clearly structurally-controlled and appear to be open for further expansion, while defining such high grades close to our mine workings at Mercedes will support improved operational performance.

The Hasaga property is currently active with two drills. One drill is on each of the C-Zone and D-Zone. Our C-Zone drilling is a combination of new holes and wedged holes designed to delineate a structure that we believe is fairly well understood. We have had good success with our hit ratios, and have to credit our on-site geologists and drillers for threading the needle on this program.

At the D-Zone, it’s still not clear exactly what we have, although we anticipate dealing with a structure similar to the C-Zone.We have tended to target a shallower series of holes in order to sort things out, but are also aware that the deeper plunge extension of the C-Zo… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

It has been one of the longest and coldest winters in recent memory in the Red Lake area and it doesn’t appear to be done quite yet.Exploration programs often rely on long winters in northern Ontario when drilling is required over areas normally very wet during other parts of the year.

Today Premier has released an update of drilling results from our Hasaga winter exploration program.We are very pleased with our success to date, in delineating and expanding the continuity of the Hasaga trend along strike and at depth. We are drilling with a slightly smaller budget of some US$2.8 million and 20,000 metres, so we are being very selective with our targeting.

The majority of our efforts will support delineation of many of the better exploration results from 2017 such as with HMP151 and HMP164W3. These deeper, higher-grade structures could indicate the potential for the optionality of a lower CAPEX, higher-grade standalone production opportunity in addition to the near surface … Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

We are working hard to build on the successes achieved across our many projects in 2017. An ongoing challenge inherent with mining operations is the constant need to replace and hopefully build on mineral reserves. With the recent completion of mining at the Phase 2 open pit at South Arturo, reserve and resource growth was a key focus at the Project in 2017. The substantial addition of mineral reserves and resources on several deposits at South Arturo confirms our belief this project will be a solid long-term producing asset that is expected to have a significant impact on our goal to become a mid-tier producer.

We have learned a lot with our experience at South Arturo. For one, a deposit doesn’t have to be big to be great! Despite the original reserve estimate for Phase 2 being only 155,000 ounces (Premier’s 40%) at the time of our purchase in 2015, the financial impact of our first open pit has been significant. We estimate that our sub-US$500 per ounce “All-in-Sustaining-Costs” (AISC) at South Arturo (to … Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

Today’s press release is the culmination of discussions that have been active for well over a year, and represents an important achievement that reflects our willingness to seek innovative solutions in the name of creating shareholder value. We believe we have accomplished just that and look forward to moving ahead quickly to seize the opportunity. This is an agreement that addresses multiple needs for Premier.

Consistent with Premier’s strategy to secure accretive partnerships, this arrangement will broaden our already positive working relationship with Barrick in Nevada and provides certainty in processing a one-time bulk sample of underground material from the upcoming development and test-mining program of the Cove deposit. The mineralization at McCoy-Cove is high-grade, but also refractory. It will be processed at the same plant as the refractory ore we have been mining at South Arturo. It was important for us to get a processing agreement in-place prior to the start of the underground program and before c… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

Today Premier has released the final series of assays for 2017 as well as provided a more comprehensive update on progress made at Hasaga during the year. Our latest results include high grade intercepts with attractive geometries and common visible gold, which have become the hallmark of several Deep Hasaga holes this year.

After the release of the mineral resource estimate, that was based on shallower, near-surface mineralization, Premier turned its attention to targeting deeper mineralization. Historic results such as in HRL 88-02 and HRL 88-03 certainly helped our team vector its initial drill hole. We could not have expected a better result. Hole HMP 151 was a fifty-four metre high grade intercept (C Zone) that included common visible gold and extensive sericite alteration and silicification.

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. Given the limited drilling conducted in this area to-date, we ar… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

Today, Premier is providing an update of exploration drilling that has been conducted on our Hasaga Property during the late spring and summer. The positive results of our 2017 program adds to the success of our 2016 campaign, which confirmed a multi-million ounce resource of near surface mineralization. We are strong believers that deeper, higher-grade mineralization can eventually be delineated. To do so requires being very systematic in our approach. Where possible, we are reaming and re-surveying old drill holes in order to help fix the location of the mineralization they contain. We released our first “wedged” drill hole assays drilled from an older hole and have one more waiting in the wings at the assay lab right now.

One bold move that appears to have worked out well for us was to drill holes HMP161 and HMP162 as 500 metre step-outs from known mineralization in the C-Zone target area. Overall, we continue to extend mineralization at depth at C-Zone and towards the Buffalo Z… Read More...

Thoughts from Chad Peters...


by Chad Peters

chad-peters

Today’s release highlights the completion of a successful 2017 in-fill drilling program at McCoy-Cove, designed to confirm continuity and grade in select areas across the CSD Gap and Helen deposits. Our team knows from experience that in-filling any deposit is never easy and sometimes will return a range of results as the internal variability of an ore body becomes evident with tighter drill spacing. However, this hasn’t been the case at the CSD Gap or Helen deposits to date. The drill results are demonstrating good continuity and grade within the resource area. We believe McCoy-Cove represents one of the highest grade recent discoveries in Nevada. CSD Gap infill hole PG17-24 is an excellent example of this continuity as it returned 13.30 g/t Au across 15.8 metres directly down-dip of 16.01 g/t Au across 11.9 metres in 2016 drill hole PG16-09.

We are barely half way through 2017 and our team is very excited to begin delineation drilling from the underground decline in 2018. Not only will drilling from undergrou… Read More...

Thoughts from John Begeman...


by John Begeman

john-begeman

We have always understood that some level of risk existed for Premier shareholders in the decision to transition our company to a gold producer from an exploration only business model. Our belief, however, was that the risk of not making the transition was greater. The very difficult business climate of 2013 through 2015 did provide an opportunity for Premier to make a well-timed acquisition of what would become our initial producing asset at South Arturo in Nevada. This was followed quickly by our Mercedes acquisition in October of last year. So far, the transition we envisioned for our company several years ago has been going very well.

The continued strong performance at both of the Premier Gold operating sites, including the extension of open pit mining at South Arturo, has resulted in a spectacular cash position and a historic strong balance sheet. Consequently, we have increased our 2017 production guidance.

One item may come as a surprise to you. Attributable gold … Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

Our Annual General Meeting, planned for Thursday (June 22nd) of this week is a very important and gratifying milestone for Premier Gold. This will be the first meeting where we detail several of the production-related successes we have had since last year’s AGM.

You can be certain that this growth is not for the sake of growth itself. Production costs at our mines, as measured by Cash Cost and All-in-Sustaining-Cost (AISC) metrics, are among the best in the industry. Based on production through the first quarter of 2017, our margins (revenue minus cost of production) on AISC are in excess of US$700 per ounce. As a result, our cash position to March 31, 2017 has increased to C$147 million. Actively advancing our pipeline of exploration and development projects will sustain the growth trajectory we have firmly established since becoming a producer.

We are particularly excited about two aspects of our production performance to date. At South Arturo, our attributable… Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

So far in 2017, we have released two mineral resource estimates detailing multi-million ounce opportunities that will continue to be the focus of our exploration teams. In addition, we announced going ahead with a Preliminary Economic Assessment (PEA) at McCoy-Cove and have an exciting high grade drill result we are following-up at Hasaga in Red Lake. We haven’t talked a lot about our two producing assets, our 100%-owned Mercedes Mine in Sonora, Mexico and our 40%-owned South Arturo Mine near Carlin, Nevada. Both sites have been working diligently to follow-up on strong Q4 2016 production results. Their dedication to safe, high-margin production is serving our shareholders well. We are extremely pleased with the continued strong performance at both sites during the quarter, especially at Mercedes where we have recognized a seamless transition from the previous operators. Numerous initiatives at Mercedes have resulted in increased throughput, particularly beginning late in the quarter and production from South Arturo continues to surpass expectati… Read More...

Thoughts from Chad Peters...


by Chad Peters

chad-peters

Today’s release highlights a busy first quarter for the exploration team at McCoy-Cove. Drilling continues to improve our understanding of the McCoy-Cove deposit and demonstrates the potential to expand the resource in the vicinity of the main resource areas and in the other new target horizons on the property. Our work at McCoy-Cove has resulted in the delineation of a new high-grade deposit in Nevada.

Our exploration team is very excited about the recent resource update but we aren’t sitting back and letting the engineers take over just yet. We believe significant exploration potential remains across the property and by using the updated geologic model as a guide we have identified multiple targets both on trend and proximal to the known resource, which are currently being tested. The Windy Point target, located 0.75km northwest of the Helen zone, has our team especially excited as the target horizon is projected along the same anticline trend as the Cove area deposits. Historic drilling in the area is high… Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

We have always viewed our McCoy-Cove asset as a cornerstone property within our exploration portfolio. Today’s press release profiling our updated mineral resource estimate at McCoy-Cove is validating our confidence that this property still has tremendous potential for future production. Indeed, our patience has been rewarded.

With this updated resource, McCoy-Cove now ranks amongst the most significant exploration successes in recent memory in Nevada. Inferred resources have increased nearly 400% since our last update in 2013, including an increase in grade of some 25%. This is the result of excellent work by our on-site and technical team and confirms the potential of this emerging high-grade development opportunity. Exploration targets at both Windy Point and the Deep IP geophysical anomaly (between the Cove and McCoy pits) remain to be adequately tested.

We have committed to completing our first pump test that will be used to validate our hydrology model during the third qu… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

Today Premier released initial assay results for hole HMP-151, which was planned to test intriguing historic drill results from the 1980’s and 1990’s that suggest that higher grade mineralization may exist across appreciable widths at depth along the Hasaga Zone trend. This initial drill result validates historic drilling on the property. Historic data made available to Premier at the time the property was acquired in 2015 suggested that the C-Zone target was not fully evaluated in the past.

Geologically, the fifty-four metre drill intercept is characterized by persistent silicification and the presence of fine visible gold in many of the fifty-four one-metre samples collected. In fact, there are some eighteen samples whose grade was in excess of 5.00 g/t Au gold. We will generate a lot of attention at Hasaga in 2017 should subsequent holes expand and add continuity to this discovery.

For those of you who will be at PDAC this year, please take the opportunity to come and v… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

Hasaga Property

Today we report our maiden mineral resource estimate at Hasaga. Based on the drill results we have been releasing for the last eighteen months, I think most will view the update as being consistent with expectations. Our focus on resource delineation at Hasaga has resulted in a discovery cost of less than $17.00 per indicated resource ounce. This metric includes the purchase of the Buffalo portion of the property made in 2015.Based on exploration only, that discovery cost is about $12.00 per indicated resource ounce. Remember there are still some 630,000 ounces of inferred that could be converted in the future as well as the potential for further discovery.Tremendous strides have been made in understanding and modelling the geologic framework that is built around this estimate. This is the result of excellent work by our on-site team and an important first step toward assessing the future mining potential at Hasaga.

As required by NI 43-101, the Technical Report on the Ha… Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

Happy New Year all!

Even though 2017 is still in its infancy, it feels like it has been with us a while. We have really been focussed on our plan for this year since late in Q3 last year. Today’s exploration update helps us close the door on what was a very exciting 2016, but hold on to your hats because we are only getting started!

Premier Gold has a long-standing commitment to exploration, a commitment that has resulted in several significant discoveries. This commitment will continue during 2017 where we expect our largest annual exploration budget in company history with no less than US$18.5 million being spent on programs expected to have a direct, near-term impact on future production and on our peer-best development pipeline.

Two items worth emphasizing from today’s release is the scope of the campaign we will undertake at McCoy-Cove and the potential for additional exploration success at our two operating assets, Mercedes and S… Read More...

Thoughts from Stephen McGibbon...


by Stephen McGibbon

stephen-mcgibbon

The drills have stopped turning in anticipation of a short break during the holiday season. As a result, we are in a position to provide our final update of the year which summarizes not only our most recent diamond drilling results, but also initial results of our metallurgical characterization. These final drill results are the culmination of an aggressive two year exploration campaign at Hasaga and the maiden mineral resource estimate is expected to reflect some of that value addition. The resource estimate will integrate all drilling, mapping and channel sampling data that has been collected and used to support a comprehensive litho-structural model. The model is rock solid.

We are particularly satisfied that we have been able to move the Hasaga Property forward at a fast pace since we secured it from Goldcorp. Having acquired the majority of the Hasaga land package through an exchange of some non-core assets, the drilling has been able to demonstrate a significant increase in value from organic growth in our … Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

We’re extremely happy, and proud, to release the Feasibility Study for the Hardrock Project just south of Geraldton.We collared the first drill hole that led to a significant discovery beginning in early 2009 and nearly 8 years later we have a Feasibility Study in hand. It was four years ago this month that the Premier management team sat down with our Senior Technical advisor and conceived the concept that the Hardrock Project would be best served as an open pit mining opportunity for mineralization within 500 metres of surface rather than an underground mineable opportunity only.

The feasibility study reports on a project with strong economics over a 14-year mine life. However, we believe it is critical that investors understand the difference between the stated Feasibility Study results and how those results are reflected within Premier Over the course of the last decade, Premier has accumulated significant tax loss pools as a result of our ongoing exploration programs.For Premier shareholders and potential in… Read More...

Thoughts from Chad Peters...


by Chad Peters

chad-peters

Today we released another batch of exciting assays highlighting Q3 drill results in the CSD Gap area! The 2016 exploration program continues to exceed expectations with PG16-16 “closing the gap” with the Helen Zone to the northwest. We currently have four rigs mobilized at McCoy-Cove with the remainder of 2016 focusing on select Helen and CSD Gap infill and expansion drilling to support the upcoming Q1 2017 resource estimate.

Our team believes the Helen & CSD Gap deposit area is a very exciting project with significant exploration and underground production potential. As a result we have initiated the preliminary engineering, geochemical and dewatering studies to meet the anticipated permitting needs as development activities ramp up in 2017. It’s been a very exciting year at McCoy-Cove and we anticipate that momentum to continue into the New Year!

Read More...

Thoughts from Ewan Downie...


by Ewan Downie

ewan-downie

Today we have announced agreements with both Goldcorp Inc. and Kinross Gold Corporation that add two new exploration projects to the Premier portfolio. These prospective high grade opportunities will further bolster Premier’s pipeline of exciting projects and both agreements adhere to our strategy of gaining access to projects with the potential of high-margin production and minimal upfront risk and costs.

The Goldbanks Property represents an opportunity for Premier to earn a 50% interest in a project that has many similarities to both the Sleeper Mine and the Midas Mine in Northern Nevada. We regard Goldbanks as potentially hosting a significant low sulphidation epithermal gold deposit and are working very hard to make the next big discovery. All of the ingredients are in place and we are very excited to have been Kinross’s partner of choice to advance the project to the next level.

At Alto Cristina, drilling will be underway before the end of the month. Like many prop… Read More...

Thoughts from Ewan Downie


by Ewan Downie

ewan-downie

Announcing our Third Quarter production results is a milestone event for Premier being the first gold production in Company history. Initial production from South Arturo exceeded guidance by more than 50% and we are on target for company-wide guidance, including production from the Mercedes Mine, of more than 100,000 ounces of gold for 2016.

We are extremely pleased with the performance achieved to date by Barrick, the operator of our joint venture at South Arturo. As I have said many times in the past, Barrick’s ability to deliver this project on schedule and under budget confirms their world-class miner status. Premier is benefiting from Barrick’s companywide cost savings program coupled with the skill-set of their Goldstrike team to materially reduce costs.

South Arturo is one of the highest grade open pit operations brought into production in 2016 and based on the strong initial performance achieved, we remain on track to meet or exceed our production guidance for the … Read More...

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