Premier Updates McCoy-Cove Drilling and Pre-Development Program

Results include 13.30 g/t Au across 15.8m

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Premier Gold Mines Limited (TSX-PG) is pleased to announce recent drill results and an update on the pre-development program at the company’s wholly-owned McCoy-Cove property. The program is designed to in-fill those resources of the Helen and CSD Gap deposits that will support a Preliminary Economic Assessment (“PEA”) and the planning of an underground development program that will include test mining and underground drilling. In addition, as part of the 2017 program, other exploration targets on the property will be drill tested.

 

Highlights to-date from the 2017 program includes:

  • 12.50 g/t Au across 3.3 m in hole PG17-21
  • 13.30 g/t Au across 15.8 m including 19.74 g/t Au across 5.5 m in hole PG17-24
  • 12.12 g/t Au across 4.9 m and 19.29 g/t Au across 8.5 m in hole PG17-25
  • Multiple high-grade intercepts in PG17-26, including 14.87 g/t Au across 12.5 m, 12.63 g/t Au across 7.7 m, and 9.02 g/t Au across 17.7 m

 

“The drill results are demonstrating good continuity and grades within the resource area,” commented Chad Peters, Nevada Exploration Manager for Premier in the company’s C-Suite Blog. “We believe McCoy-Cove represents one of the highest grade recent discoveries in Nevada.”

 

Figure 1: Plan view of drill hole collar locations within resource area

Drill Hole Collar Locations

 

Table 1: Highlights of results from the 2017 McCoy-Cove drill program
Hole ID Coordinates(1)
(m)
Azimuth/Dip
(degrees)
Comment From
(m)
To
(m)
Intercept
(m) (2)
Au
(g/t)
Ag
(g/t)
From
(ft)
To
(ft)
Intercept
(ft) (2)
Au
(oz/t)
Ag
(oz/t)
PG17-21 4465993N
/481693E
190/-88 Upper Helen 373 376 3.7 12.50 3.70 10.3 21.6 12.0 0.36 0.11
PG17-22 4465566N
/481912E
066/-54 CSD Gap Abandoned
PG17-23 4465699N
/481880E
097/-53 CSD Gap Abandoned
PG17-24 4465699N
/481880E
104/-54 CSD Gap 495.9 498.3 2.4 5.31 1.05 1627.0 1635.0 8.0 0.15 0.03
556.4 558.4 2.0 13.62 100.00 1825.0 1832.0 7.0 0.40 2.92
660.8 676.7 15.8 13.30 3.74 2168.0 2220.0 52.0 0.39 0.11
Including 662.9 668.4 5.5 19.74 5.10 2175.0 2193.0 18.0 0.58 0.15
PG17-25 4465432N
/481977E
052/-47 CSD Gap 639.8 651.4 11.6 7.37 4.27 2099.0 2137.0 38.0 0.21 0.12
Including 646.5 651.4 4.9 12.12 6.21 2121.0 2137.0 16.0 0.35 0.18
662.3 670.9 8.5 19.29 5.06 2173.0 2201.0 28.0 0.56 0.15
PG17-26 4465565N
/481912E
046/-58 CSD Gap 523.6 527.0 3.4 6.17 2.42 1718.0 1729.0 11.0 0.18 0.07
537.0 542.0 5.0 9.17 4.00 1761.7 1778.2 16.5 0.27 0.12
554.3 566.8 12.5 14.87 8.78 1818.5 1859.5 41.0 0.43 0.26
603.1 604.7 1.6 10.10 31.50 1978.8 1984.0 5.2 0.29 0.92
606.5 614.2 7.7 12.63 16.70 1989.8 2015.0 25.2 0.37 0.49
633.4 651.1 17.7 9.02 2.81 2078.0 2136.0 58.0 0.26 0.08
655.2 659.0 3.8 11.14 3.00 2149.5 2162.0 12.5 0.32 0.09
735.5 739.7 4.2 9.78 28.20 2413.2 2427.0 13.8 0.29 0.82
Notes: (1) UTM NAD83, Zone 11 (2) True widths are estimated to be 60 to 90% of core length

Two drill holes were abandoned due to excessive deviation from the targeted intercept.

The ongoing development activities on the property include finalizing the construction of a 2400-metre pipeline and a 16-acre rapid infiltration basin (RIB) prior to a hydrologic flow test, which will occur during the third quarter. Results from the flow test will along with an updated resource, metallurgical and engineering data will be included in a PEA that is expected to be completed by year end. As part of the underground permitting process, Premier is working closely with community stakeholders as well as State and Federal agencies.

All abbreviations included in this press release are defined and available by following this link ( download list ).

 

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. 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. Higher grade samples are subject to a gravimetric finish.

 

Premier Gold Mines Limited is a gold producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; South Arturo and Mercedes, and through future mine development opportunities at McCoy-Cove in Nevada and Hardrock in Ontario (Greenstone Gold JV) where permitting and development initiatives are ongoing.

 

For further information, please contact:

Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-345-0284
e-mail: premiergoldmines%23com|info
Web Site: www.premiergoldmines.com


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. 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 forwardlooking 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.