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Cours Or & Argent

Premier Gold Mines Ltd.

Publié le 13 janvier 2009

BEGINS DRILLING AT HARDROCK PROJECT

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Mots clés associés :   Canada | G Mexico | Nsa |

 

 
 
Tuesday, January 13, 2009 PG:TSX

PREMIER BEGINS DRILLING AT HARDROCK PROJECT
Shares Issued: 77,565,179

PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that drilling has begun at the company's Hardrock Project in Northwestern Ontario. This program is expected to consist of more than 50,000 metres of drilling leading to NI43-101 compliant resources in 2009. Two core drills have begun testing the EP and Oreo Zones.

The EP-Zone is a near-surface, potential high-grade open pit, target consisting of mineralization up-dip and adjacent to the previously mined North Zone from which 2.97 Million tonnes of ore was mined at a grade of 7.54 g/t Au. The potential of the EP-Zone is highlighted by the following results from drilling in 1994 and previously untested core from more recent drilling that was completed for environmental purposes. Highlights include:

Hole-ID

From (m)

To (m)

Length (m)

Grade (gpt)

Zone

GE94-67

24.7

50.3

25.6

4.06

EP

GE94-68

30.5

45.7

15.2

7.34

EP

H1

42.0

44.0

2.0

5.85

X

H10

4.1

10.0

5.5

12.16

X

H11

6.0

7.8

1.8

11.14

x

H12

NSA

 

 

 

 

H13

NSA

 

 

 

 

H14

14.0

16.0

2.0

6.96

X

H14

22.5

26.9

4.4

7.78

X

H15

18.0

24.5

6.5

5.82

X

H16

15.0

16.0

2.7

11.23

X

H16

19.5

21.1

1.6

3.16

X

H2

NSA

 

 

 

 

H3

48.0

67.0

19.0

4.22

EP

H4

6.0

8.0

2.0

1.89

crown pillar North Zone

H5

5.6

8.0

2.4

9.60

crown pillar North Zone

H7

51.0

67.1

16.1

3.38

EP

H8

28.0

30.1

2.1

15.74

EP

H8

70.0

71.0

1.0

2.53

X

H9

15.5

16.5

1.0

5.20

crown pillar North Zone

H9

21.0

22.0

1.0

4.21

x



Hardrock Project The Hardrock Project is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK) (Premier earning a 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced more than 2.0 Million ounces of gold from the same deposits to relatively shallow depths of approximately 2000 feet (600 metres) from 1938-1968. The mined zones remained open at depth at the time mining ceased and developed historical resources were left in place within the existing mine workings (a qualified person has not done sufficient work to verify the historical resource, the company is not treating the historical resource as a current resource and the historical resource should not be relied upon). Importantly, the Hardrock Project has the potential for defining several styles of mineralization capable of hosting resources, with grades and widths similar to many of Ontario's major gold mines including:

  1. Open pit style mineralization with grades exceeding 1.5 g/t Au (Timmins, Hemlo)

  2. Broad zones of mineralization with grades averaging 5.0+ g/t Au (Musselwhite)

  3. Narrow vein zones with higher gold grades often exceeding 7.0g/t (Red Lake, Pickle Lake)
Initial drilling will focus on delineating both open pit and underground resources with the goal of defining a multi-million ounce gold resource that can be moved quickly towards development (Although existing historical resources have been used as a basis for confirming target potential, there is been insufficient exploration data to define a mineral resource and it is not certain that further exploration will result in discovery of a mineral resource.). The Project offers development advantages with the Trans-Canada highway, Trans-Canada pipeline, and major power lines running through the center of the property. Significant potential exists for developing resources in several areas including: 1) Open pit-style mineralization at the site of the original discovery where a resource containing several hundred thousand ounces of gold was partially drilled off by previous operators; 2) Several newer high-grade discoveries have been made throughout this large property package that have received little to no follow-up; 3) Resource blocks reported to remain within the mine workings; and, 4) The main mined zones which remain open below the 600m Level.

The Hardrock Project is located in the heart of the Beardmore-Geraldton Greenstone Belt, a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades. The Project area covers some of the most prospective geology in the region and is host to several past-producing mines and numerous exploration targets in a district that has seen historic production of more than 4.1 Million ounces of gold.

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. The GH results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Thunder Bay, 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 projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Red Lake Gold Mines. The company also owns a strategic project located on the main Musselwhite Gold Mine trend and recently signed an agreement to acquire mineral properties in Geraldton area from Barrick Gold.

For further information, please contact:
Ewan Downie, President & CEO
E-mail: info@premiergoldmines.com
Phone: 807-346-1390
Fax: 807-346-0100
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.
Associated File: http://www.premiergoldmines.com/i/pdf/2009-01-13_NR.pdf
37 KB in size, approx. 8 seconds to download at 56.6Kbps

You can also view this News Release on our website at:
http://www.premiergoldmines.com/s/NewsReleases.asp?ReportID=334145
 

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Premier Gold Mines Ltd.

EXPLORATEUR
CODE : PG.TO
ISIN : CA74051D1042
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Premier Gold Mines est une société d’exploration minière d'or basée au Canada.

Premier Gold Mines détient divers projets d'exploration au Canada et au Mexique.

Ses principaux projets en exploration sont HARDROCK, GERALDTON, ARGOSY, EAST BAY, RAHILL-BONANZA, SADDLE GOLD, RAIN et NEWMAN-MADSEN au Canada et SANTA TERESA au Mexique.

Premier Gold Mines est cotée au Canada. Sa capitalisation boursière aujourd'hui est 596,5 millions CA$ (474,8 millions US$, 399,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 08 avril 2011 à 8,00 CA$, et son plus bas niveau récent le 20 mars 2020 à 0,85 CA$.

Premier Gold Mines possède 201 530 000 actions en circulation.

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Announces $340 Million of Non-Core Asset Sales
39,11 US$+2,01%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,10 AU$-4,55%Trend Power :
Sun Res.(Oil)SUR.AX
Released ASX Announcement: Quarterly Activities Report
0,00 AU$+0,00%Trend Power :
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