by 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 open-pitable potential demonstrated in our 2016-17 program. We are active with two drills at Hasaga and anticipate continuing at this rate through the spring. Our goal, as stated in the release, is to complete a mineral resource estimate on specific areas along the deep Hasaga trend such as the C-Zone based on drilling results from the 2018 program.
For those of you that also track progress other Premier projects and properties, you no doubt have noticed the mineral reserve and resource updates that were released for both our South Arturo property at the north end of the Carlin Trend in Nevada and at Mercedes, in the State of Sonora in Mexico.Both updates point to good progress being made to extend the mine life at each operation. At Mercedes, the reserve actually grew a nominal amount despite there having been some 18-months of mining since the previous update.
We anticipate continued news flow coming from Premier during the remainder of 2018.For those in the Red Lake area that follow our Hasaga progress, we anticipate providing a mid-year update of our exploration program similar to the presentation at the Heritage Centre in February.
Hopefully you’ll hear about the notice of the meeting while sitting in your boat and not in your ice hut!