Premier Gold - Deep Drilling at Hardrock Intersects High Grade Gold Including 10.05 g/t (0.29 oz/ton) Gold Over 24.2m (79.4 feet)
PREMIER GOLD MINES LIMITED (TSX:PG) announced today that
multiple deep drill holes have intersected broad zones of high-grade
gold mineralization below the bottom level of the historically mined
North Zone at the Hardrock Project in Northwestern Ontario. Highlights
include intercepts of 10.05 grams per tonne gold (g/t Au) across 24.2
metres (m) or 0.29 oz/ton across 79.4 feet; and 8.41 g/t Au across 22.9
m, or 0.25 oz/ton across 75.1 feet. This drilling confirms that the
North Zone deposit is wide open at depth.
North Zone Deeps
All holes drilled to test the down-dip potential of the mine have intersected multiple zones of gold mineralization to 100 metres below the mined portion of the North Zone. Significant intercepts include:
- 39.20 g/t Au across 4.8 m (1.14 oz/ton gold across 15.7 feet) in MM050
- 18.86 g/t Au across 3.3m (0.55 oz/ton across 10.8 feet) in MM050A
- 21.90 g/t Au across 1.5m (0.64 oz/ton across 4.9 feet) in MM079
- 8.41 g/t Au across 22.9m (0.25 oz/ton across 75.1 feet) including 15.95 g/t Au across 8.1m (0.47 oz/ton across 26.6 feet) in MM079A
- 10.05 g/t Au across 24.2m (0.29 oz/ton across 79.4 feet) including 20.76 g/t Au across 5.4 m (0.61 oz/ton across 17.7 feet) in MM079B
Table 1 below provides a full summary of significant results from the deep drill program received to date. Ongoing drilling will continue to step out down-plunge to the west in an effort to further define the potential of the North Zone deposit.
The longitudinal section in Figure 1 profiles the location of the new deep drill intersections in relation to the bottom (2000 foot) level of the mine. The North Zone was previously mined to a depth of 610 metres (2,000 feet) with production of 2.97 million tons at a recovered grade of 0.22 oz/ton (7.54g/t Au). This drilling demonstrates that this zone remains wide open for expansion at depth.
A full presentation detailing the location of this deep drilling is available at the Company’s website www.premiergoldmines.com
|MM050A (wedge hole)||5503375 E
|MM079A (wedge hole)||5503376 E
|MM079B (wedge hole)||5503376 E
* Previously Announced Intersection - True widths estimated at 50-70% of intersection widthsOngoing work at Hardrock is testing both open pit and underground type targets. Several potential open pit zones have been delineated to be included into a NI43-101 compliant resource estimate that is expected to be completed early in 2010 (initial open pit resource). The focus of drilling has now shifted towards defining underground-style zones that will be included in an updated resource that is expected in Q3 2010.
Significant potential exists for developing resources in several areas including:
- Open pit-style mineralization in the main areas, the Tenacity, EP (includes NN) and Kailey Zones. Significant results to-date include 15.97g/t Au across 32.1m and 4.13g/t Au across 18.9m in the Tenacity Zone, 5.2g/t Au across 37.0m and 19.0g/t Au across 11.3m in the EP Zone, 6.4g/t Au across 22.4m and 52.9g/t Au across 7.9m in the NN Zone, and 1.47 g/t Au across 162.0 metres (m) and 2.16g/t Au across 92.2m in the Kailey Zone;
- Underground-style mineralization in the SP Zone where drilling has returned numerous significant intercepts including 6.6g/t Au across 32.6m and 9.7g/t Au across 11.8m;
- New high-grade vein targets, including the HGN discovery where recent drilling has intersected significant visible gold with intercepts that include 1,141.5g/t Au (33.3 oz/ton) across 2.0m and 49.8g/t Au across 6.0m; and,
- Historical resource blocks that remain within the mine workings and the main mined zones which remain open below the 600m Level as tested by holes MM050 and MM079.
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, an affiliate of Goldcorp Inc., and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 70% interest in the Hardrock Project, an advanced-stage gold project in the Geraldton area.
For further information, please contact:
Ewan Downie, President & CEO
Web Site: www.premiergoldmines.com