PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is pleased to announce that it has filed a technical report (“Report”) for the recently completed mineral resource estimates (press release dated December 19, 2012) on four gold deposits located on the Company’s 100%-owned Trans-Canada Property including the Hardrock, Brookbank, Kailey and Key Lake Deposits. This Report has been prepared in accordance with Canadian Securities Administrators’ National Instrument 43-101 and may be found on the Company website or under the Company’s profile at www.sedar.com.
Highlights of the 2012 resource estimates summarized in Table 1 include:
- Measured and Indicated resources of 4.12M ounces of gold
- Inferred resources of 3.65M ounces of gold
- Multiple deposits remain open for expansion and are the subject of ongoing drilling
- New gold zones have recently been discovered, offering further upside
The independent Report, dated January 30, 2013, entitled “Technical Report on the Mineral Resource Estimates for the Hardrock, Brookbank and Key Lake Projects” was issued by Micon International Limited. The Report provides detail to the disclosure contained in the Company’s news release issued on December 19, 2012.
Table 1 Trans-Canada Property Resources Summary
|Deposit||Cut-off Category||Resource Category||Tonnes
|Open Pit||Measured (M)||12.737||1.41||576|
|Subtotal M & I||46.657||1.51||2,261|
|Subtotal M & I||5.045||5.48||889|
|Open Pit||Measured (M)||0||0|
|Subtotal M & I||2.638||2.02||171|
|Subtotal M & I||1.851||7.21||429|
|Open Pit||Measured (M)||4.052||1.06||139|
|Subtotal M & I||8.630||0.95||265|
|Subtotal M & I||0||0|
|Open Pit||Measured (M)||0||0|
|Subtotal M & I||2.572||1.17||97|
|Subtotal M & I||0.031||6.48||6|
|Open Pit||Total M & I||60.497||1.44||2,794|
|Deposits||Underground||Total M & I||6.927||5.94||1,324|
The Hardrock Project, which includes both the Hardrock and Kailey Deposits, is located 3 kilometres south of the town of Geraldton on the Trans-Canada Highway. The project, which resides on patented claims, is permitted for dewatering and advanced exploration and benefits from substantial infrastructure including highways and roads, and power. During 2013, the Company has planned a continued drill campaign and is working on preliminary mine modeling concepts for the Brookbank and Hardrock deposits in advance of a planned PEA.
Premier continues to strengthen its operating team as it implements the Company’s strategy of becoming a gold producer. In the past 12 months Premier has made several key management additions including Mr. Ebe Scherkus as Director and Chairman, Paul-Henri Girard as Senior Mining Advisor, Eric Lamontagne as Manager, Development Projects, and Claude Lemasson as Director. Premier is well-financed to advance its project portfolio with a treasury of cash and securities that exceeds $150 million.
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.
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’s portfolio includes significant assets in world class gold mining districts such as Red Lake, Musselwhite and Geraldton in Ontario and the most prolific gold trends in Nevada.