Premier Extends Gold Mineralization West At Hasaga Red Lake

December 7th, 2015
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Premier Gold Mines Limited (TSX-PG) is pleased to provide its latest update from ongoing surface drilling on the Hasaga Porphyry target at the Company’s 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario. Drilling continues to extend near surface mineralization to the west with highlight results that include assays of up to 1.68 grams per tonne gold (g/t Au) across 49.0 metres (m) and 7.94 g/t Au across 11.0 m.

The Hasaga Property is host to the past-producing Hasaga and Gold Shore Mines and is strategically-located proximal to the Balmer-Confederation regional unconformity, recognized as an important geologic feature at the multi-million ounce past and currently producing Red Lake area mines.

Table 1 provides a more comprehensive summary of highlight results from additional holes drilled at the Hasaga Porphyry target (previously released results were up to HMP038) which is considered open to the west and at depth. Recent drilling has intersected a new near-surface mineralized zone in the footwall of the Hasaga Porphyry noted as F1 in Table 1 with intercepts including 1.50 g/t Au across 18.0m.

Highlights from holes with completed assays in the Hasaga Porphyry target area include:

Hasaga Porphyry (reporting holes HMP039-077)

  • HMP039 – 1.68 g/t Au over 49.0 m including 2.41 g/t Au over 17.6 m.
  • HMP053 – 7.94 g/t Au over 11.0 m and 4.67 g/t Au over 4.0 m.
  • HMP069 – 1.32 g/t Au over 27.0 m and 1.54 g/t Au over 16.0 m.
  • HMP074 – 0.96 g/t Au over 36.0 m and 1.72 g/t Au over 37.0 m.
  • HMP076 – 1.50 g/t Au over 18.0 m and 0.87 g/t Au over 34.0 m.

Premier anticipates stopping drilling operations at Hasaga in mid-December for the holiday season. In all, more than 60,000 metres of diamond drilling will have been completed on the property during the 2015 exploration program and have given management sufficient confidence in the opportunity to execute a recent land purchase to expand the size of the property to some 1200 hectares.

“We have accomplished a lot in a relatively short period of time in 2015 and are generating solid results,” commented Stephen McGibbon, Executive Vice-President, Corporate and Project Development on the Company’s C-Suite Blog (http://www.premiergoldmines.com/news/c-suite-blog). “Our team has an aggressive goal in 2016 that includes reporting an initial mineral resource estimate on the Hasaga Porphyry area by yearend.”

Prior to drilling resuming in Q1 of 2016, it is expected that an upgraded litho-structural model will be completed at the Hasaga target area with which to finalize the drilling plan for the coming year. The 2016 exploration program will also include additional stripping, mapping and channel sampling on relevant outcrop exposures in addition to step-out drilling along strike on the new property area. Initial metallurgical testing is expected to be undertaken.

Table 1: Highlight Results From Hole HMP039 to HMP077

HOLE_ID COORDINATES DIP/AZIMUTH SECTION INTERCEPT FROM TO LENGTH GRADE
HMP039 441427 E / 5651149 N -45 / 334 E1200 H1 424.0 473.0 49.0 1.68




including 436.4 454.0 17.6 2.41
HMP041 441452 E / 5651091 N -45 / 333 E1200 H1 407.0 467.0 60.0 0.93
HMP042 441515 E / 5651188 N -45 / 332 E1300 H1 435.0 451.0 16.0 0.42
HMP046 441609 E / 5651439 N -53 / 332 E1500 H1 214.0 230.0 16.0 2.72




including 214.0 219.0 5.0 6.05
HMP047 441609 E / 5651439 N -30 / 312 E1450 H1 140.0 159.0 19.0 0.64




including 140.0 148.0 8.0 1.08
HMP048 441580 E / 5651287 N -35 / 332 E1400 H1 384.0 392.0 8.0 2.29
HMP049 441609 E / 5651439 N -42 / 311 E1450 H1 171.0 189.0 18.0 1.56
HMP050 441609 E / 5651439 N -50 / 311 E1450 H1 206.0 228.0 22.0 1.35
HMP051 441601 E / 5651244 N -45 / 331 E1400 H1 441.0 452.0 11.0 1.44




H2 463.0 483.0 20.0 0.76
HMP053 441610 E / 5651440 N -40 / 352 E1550 H1 155.0 166.0 11.0 7.94




including 156.0 159.0 3.0 28.03




H1 184.0 188.0 4.0 4.67
HMP054 441624 E / 5651204 N -45 / 332 E1400 H1 523.0 534.0 11.0 0.59
HMP055 441610 E / 5651440 N -50 / 352 E1550 H1 199.0 209.0 10.0 0.49




H2 292.0 311.0 19.0 1.42
HMP057 441539 E / 5651379 N -30 / 331 E1400 H1 100.0 106.0 6.0 6.61




H1 131.0 139.0 8.0 0.78




H2 160.0 165.0 5.0 1.41




H2 175.0 178.0 3.0 1.95
HMP058 441541 E / 5651146 N -48 / 334 E1300 H1 547.0 552.0 5.0 0.88




H2 578.0 591.0 13.0 0.76
HMP059 441537 E / 5651381 N -53 / 333 E1400 H1 245.0 261.0 16.0 1.23
HMP060 441535 E / 5651382 N -32 / 306 E1350 H1 116.0 135.0 19.0 0.74




H2 163.0 180.0 17.0 1.11





192.0 199.0 7.0 0.70





211.5 219.0 7.5 0.64
HMP061 441449 E / 5651091 N -49 / 332 E1400 H1 587.0 592.0 5.0 1.41
HMP062 441536 E / 5651381 N -49 / 310 E1350 H1 148.5 159.0 10.5 1.71




H2 244.0 256.0 12.0 4.80




including 247.0 250.0 3.0 15.14
HMP065 441467 E / 5651314 N -30 / 332 E1300
148.0 158.0 10.0 0.54




H1 163.0 176.0 13.0 1.19





187.0 194.0 7.0 0.80




H2 224.0 232.0 8.0 1.24
HMP067 441465 E / 5651315 N -32 / 321 E1250
139.5 157.0 17.5 0.73




H1 170.0 182.0 12.0 0.60




H2 206.0 235.0 29.0 1.81




including 207.0 214.0 7.0 4.39




H3 261.0 273.0 12.0 1.32
HMP068 441465 E / 5651315 N -42 / 320 E1250 H1 196.0 212.0 16.0 0.79





224.0 251.0 27.0 0.53




H2 268.0 281.0 13.0 1.00




H3 322.5 333.0 10.5 1.16
HMP069 441405 E / 5651202 N -45 / 334 E1200 H1 289.0 324.0 35.0 0.69




H2 339.0 366.0 27.0 1.32




H3 384.0 400.0 16.0 1.54
HMP070 441465 E / 5651314 N -51 / 321 E1250 H1 171.0 200.0 29.0 0.55




H2 218.0 255.0 37.0 1.12




H3 295.0 309.0 14.0 2.02
HMP071 441384 E / 5651240 N -32 / 335 E1200 H1 156.0 170.0 14.0 0.65




H2 205.0 222.0 17.0 1.15




H3 243.0 260.0 17.0 3.77
HMP073 441382 E / 5651240 N -31 / 327 E1200 H1 153.0 169.0 16.0 0.84




H2 183.0 207.0 24.0 0.76




H3 215.0 279.0 64.0 0.97
HMP074 441382 E / 5651240 N -41 / 319 E1200 H2 195.0 231.0 36.0 0.96




H3 251.0 288.0 37.0 1.72
HMP075 441382 E / 5651240 N -52 / 319 E1150 H2 286.0 320.0 34.0 1.28




H3 379.0 390.0 11.0 0.88
HMP076 441385 E / 5651094 N -30 / 332 E1100 F1 30.0 48.0 18.0 1.50




H1 223.0 257.0 34.0 0.87




H1 265.0 280.0 15.0 0.60




H2 317.0 325.0 8.0 0.69




H3 361.0 369.0 8.0 0.83
HMP077 441245 E / 5651094 N -42 / 332 E1000 F1 47.0 57.0 10.0 0.96




H1 250.0 276.0 26.0 0.84




H2 286.0 302.0 16.0 1.31




H3 330.0 344.0 14.0 0.96

* - True widths range between 65% and 90% of reported results

In most cases, the mineralization highlighted in Table 1 is surrounded by broad haloes of lower grade mineralization (typically less than 0.30 g/t Au) which would result in some intercepts exceeding 100 metres in core length. Apparent gaps in the numerical “HOLE_ ID” sequence listed in Table 1 reflect those holes which don’t contain higher grade composite intervals, but often do contain the lower grade haloes over variable widths.

Figures 1 through 4 below provide a variety of plan and section views profiling the results in Table 1 within a schematic geological context.

Figure 1: Plan view of Hasaga Porphyry drilling


Figure 2: Cross-Section A-A’ of Hasaga Porphyry


Figure 3: Cross-Section B-B’ of Hasaga Porphyry


Figure 4: Longitudinal View C-C’ of Hasaga Porphyry

Premier believes that Hasaga and Gold Shore, underground mines that ceased production in the early 1950’s, have the potential to host gold mineralization that may be amenable to open pit mining methods in addition to higher grade underground mineable mineralization. Current drill targets include the “Hasaga Porphyry Zone”, testing the porphyry rock unit that hosts the past-producing Hasaga and Howey Gold Mines, where in excess of 600,000 ounces of gold was produced by underground mining methods, and the “Central Zone” where drilling has delineated widespread gold mineralization in the Dome Stock granodiorite.

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 either Accurassay Laboratories or Activation Labs, both accredited mineral analysis laboratories in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.

Premier Gold Mines Limited is one of North America’s leading exploration and development companies with a high-quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States. The Company is well financed with approximately $75 million in cash and investments and a portfolio of advanced-stage assets in world class gold mining districts such as Red Lake and Geraldton in Ontario and the most prolific gold trends in Nevada.

For further information, please contact:

Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-1381
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.