Premier Provides Drilling Update at McCoy-Cove

April 12th, 2017
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PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is pleased to provide recent drill results from the Company’s 100%-owned McCoy-Cove Property, located 32 miles south of Battle Mountain in Lander County, Nevada. The ongoing drill program continues to expand and delineate the primary Helen and CSD Gap Zones as well as test highly prospective targets near and along the Cove trend.

Highlights of new drill results include:

  • 9.07 g/t Au across 1.7 m and 9.31 g/t Au across 5.5 m in hole PG17-04
  • 10.49 g/t Au across 2.7 m in hole PG17-06
  • 10.34 g/t Au across 7.2 m and 29.52 g/t Au across 5.9 m in hole PG17-07
  • 19.37 g/t Au across 2.4 m and 16.75 g/t Au across 3.4 m in hole PG17-10

All abbreviations used in this press release are available by following this link (click here).

Premier announced on March 21, 2017 a resource estimate for McCoy-Cove, completed by RPA Inc. of Toronto, Ontario with total Indicated Mineral Resources of 614,000 tonnes grading 11.57 g/t Au (228,000 ounces of gold) and Inferred Resources of 3,378,000 tonnes grading 12.17 g/t Au (1,322,000 ounces of gold) contained within Helen, CSD Gap, CSD and 2201 Zones.

This drill program is part of the Company’s 2017 US$13.4M exploration and development budget at McCoy-Cove that also includes hydrological and metallurgical test work as part of a Preliminary Economic Assessment (PEA) that is expected to be completed in H2-2017. The positive drill results from this program are expected to warrant the initiation of an underground drill program that may begin in Q1 2018 once access has been established.

“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,” commented Nevada Exploration Manager Chad Peters on the Company’s C-Suite Blog (http://www.premiergoldmines.com/news/c-suite-blog). “Our work at McCoy-Cove has resulted in the delineation of a new high-grade deposit in Nevada.

Table 1 – 2017 Assay results from drilling at McCoy-Cove

Hole ID Coordinates(1)
(m)
Azimuth /Dip (Degrees) From
(m)
To
(m)
Core
Length(2)
(m)
Au (g/t) Ag (g/t) Core
Length(2)
(ft)
Au (oz/t) Ag (oz/t) Comment
PG17-01 4465432N/481977E 48/-48 Abandoned Pre-collar deviation
PG17-02 481693E/4465993N 254/-83 370.2 371.2 1.1 6.47 1.90 3.5 0.19 0.06 Helen
PG17-03 481805E/4465778N 351/-57 519.1 520.6 1.5 9.41 0.31 5.0 0.27 0.01 Helen
PG17-04 481987E/4465390N 46/-59 598.0
642.2
599.7
647.7
1.7
5.5
9.07
9.31
2.89
12.11
5.5
18.0
0.26
0.27
0.08
0.35
Helen
PG17-05 481687E/4465988N 201/-86 No Significant Values Helen
PG17-06 481696E/4465997N 287/-80 352.5
574.9
591.3
594.7
356.8
579.7
597.4
597.4
4.3
4.9
6.1
2.7
5.69
6.44
6.21
10.49
1.31
1.67
1.79
3.30
14.0
16.0
20.0
9.0
0.17
0.19
0.18
0.31
0.04
0.03
0.05
0.10



including
PG17-07 481603E/4465760N 30/-63 434.0
595.1
605.6
629.3
629.7
696.2
436.8
602.3
607.5
635.2
631.9
702.1
2.8
7.2
1.8
5.9
2.1
5.9
9.06
10.34
11.25
29.52
61.31
7.81
4.65
2.90
4.22
8.48
17.66
1.57
9.2
23.5
6.0
19.5
7.0
19.5
0.26
0.38
0.33
0.86
1.79
0.23
0.14
0.03
0.12
0.25
0.52
0.05
Helen



including
PG17-08 481977E/4465431N 48/-56 424.1
467.3
470.0
426.4
476.6
472.7
2.3
9.3
2.7
8.38
5.99
7.92
0.98
5.80
6.17
7.5
30.5
9.0
0.24
0.17
0.23
0.03
0.17
0.18


including
PG17-09 481604E/4465761N 38/-62 Assays Pending Helen
PG17-10 481912E/4465566N 53/-51 483.7
520.0
557.8
591.5
651.1
486.6
521.5
560.2
594.8
655.6
3.0
1.5
2.4
3.4
4.6
17.73
6.75
19.37
16.75
6.92
104.86
105.36
11.28
3.55
4.99
9.7
5.0
8.0
11.0
15.0
0.52
0.20
0.56
0.49
0.20
3.06
3.07
0.33
0.10
0.15
Gap



PG17-11 481988E/4465390N 57/-46 550.5
665.7
678.3
557.2
671.5
681.2
6.7
5.8
2.9
6.33
5.67
8.69
6.60
1.67
1.53
22.0
18.9
9.5
0.18
0.17
0.25
0.19
0.05
0.04
PG17-12 482455E/4466059N 203/-46 Abandoned Pre-collar deviation
PG17-13 480621E/4466019N 59/-52 399.3
459.0
542.1
599.5
460.9
599.5
200.3
1.8
57.5
0.65
7.11
1.04
0.31
0.25
0.29
657.0
6.0
188.6
0.02
0.21
0.03
0.01
0.01
0.01
Windy Point
including
and
PG17-14 480695E/4466010N 38/-77 370.3
570.4
404.3
636.9
34.0
66.5
0.25
0.45
0.19
0.16
111.5
218.1
0.01
0.01
0.01
0.00
Windy Point

Notes:

  1. True widths are estimated at 75-90% of core interval

Figure 1- Longitudinal view profiling infill drilling in relation to the McCoy-Cove resource areas

Stephen McGibbon, P. Geo., Executive Vice President, Corporate & Project Development, 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. Drill samples were sent to ALS Laboratories in Reno, Nevada for analysis with the analytical facility utilizing 30 gram fire assay with an AA finish for RC samples and 30 gram fire assay with AA finish and ICP-MS 30 element scan from 4-acid digestion for core samples. Over-limit samples receive an automatic gravimetric finish. Tudorel Ciuculescu, P.Geo, is the independent Qualified Persons who have reviewed and approved the resources contained in this press release for the purposes of National Instrument 43-101.

Premier Gold Mines Limited is a respected production, exploration and development company with a high-quality pipeline of gold projects focused in proven, safe, and accessible mining jurisdictions in Canada, the United States, and Mexico. 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

Forward Looking Information
This Press Release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about the estimation of mineral resources and mineral reserves, strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier’s annual information form under the heading “Risk Factors”. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.