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-Zone will need to be further assessed as well.

In Figure 2, we have showcased our recent C-Zone results onto a grade-thickness contour that broadly portrays the plunge-line we are using to trace our mineralized zone.Notice how it closely mimics the old excavations from the Hasaga Mine on the image. This is a useful tool not just at Hasaga, but Mercedes as well.

The ice will finally be off of Red Lake in the next day or so……officially ending the winter of 2017/18.We are quickly approaching mid-year, at which time we will refine our plans for drilling in the second half of the year.Just a reminder that Premier will be presenting an update to our Hasaga program at the Heritage Centre in Red Lake at the same time as our Annual General Meeting presentation on June 27th, which will be webcast live at the Centre as well.

We look forward to your questions and comments.