Premier - Sutter Releases Additional High Grade Gold at Santa Teresa Including 16.68 GPT (0.49 Opt) Across 3.1 Metres
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PREMIER GOLD MINES LTD (TSX:PG) is pleased to release the
remaining assay results from its initial 32-hole Phase One program
drilled at the Santa Teresa Concession in Baja California, Mexico.
These new results, with intercepts as high as 21.10 grams per tonne
(gpt) or 0.62 ounces per ton (opt) gold across 1.35 metres (m), and
16.68g/t across 3.1m continue to demonstrate the potential of this
Results to date confirm the following:
- Drilling has discovered multiple high-grade veins up to 260 metres along strike from the historic Princessa Gold Mine, whose average production grade exceeded one ounce per ton.
- Results include multiple intercepts in excess of 34.00 gpt (about 1.00 oz/ton) gold between one and three metres within the Princessa structure.
- Twenty-three significant intercepts with length weighted average in excess of 35.00 gpt.
- Structures remain open in all directions
“In all, our Phase One program had 23 intercepts drilled that were greater than 5.00 grams per tonne across no less than one metre, and the length weighted average of those exceeded 35.00 grams per tonne.” commented Stephen McGibbon, Executive Vice-President & COO of Premier. “Recent drilling with more tightly patterned holes helped us better understand the nature and distribution of gold within this system.”
Premier and joint venture partner Sutter Gold Mines Inc. (TSX-V:SGM) continue to regard expansion of their interests at El Alamo as a priority for 2009.
Table 1 includes all assay results greater than 2.00 gpt gold for holes ST024 to ST032, with assay results greater than 10.00 gpt highlighted in yellow. Several of these contained visible gold upon visual inspection of the core. Drill holes ST024-029 were drilled to test the South structure, while holes ST030-032 tested the main Princessa structure.
Table 1 Significant Results ST024 To ST032
Click image to enlarge
* True widths estimated between 50-75% of intersection width
The Santa Teresa Project is accessible by road, and is located approximately 100 kilometres southeast of Ensenada and about 250 kilometres south of San Diego, California, USA. A total of some 7,000 metres (22,800 feet) in 32 holes were drilled on Santa Teresa in 2008.
Premier is attracted to the El Alamo District because of a unique history of high mined grades, but little modern exploration. The properties being explored by Premier and Sutter are:
- Located within a proven (some 220,000 ounces of past production) gold district.
- Historical data indicates that mined grades within the district are between 1.00 and 2.00 ounces per ton (opt).
- The majority of district production occurred within 120 metres of surface, but remains open at depth.
- Geologically similar to the historic Mother Lode District of California.
For further information, please contact:
Ewan Downie, President & CEO
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.