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Posts tagged ‘Premier Gold Mines Ltd (PG)’

Red Lake reports

April 8th, 2013

Confederation/Redstar and Rubicon work towards Ontario gold PEAs

by Greg Klein

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Should Newman Todd begin with a small starter pit or go directly underground? That’s the question Confederation Minerals TSXV:CFM will address with its just-commissioned preliminary economic assessment, to be released later this year. On April 8 the company announced another batch of assays from its winter drill campaign in northwestern Ontario’s Red Lake Greenstone Belt. Some highlights include:

  • 1.92 grams per tonne gold over 36 metres, starting at 103 metres
  • (including 7.56 g/t over 1 metre)
  • 1.3 g/t over 38 metres, starting at 75 metres
  • (including 9.1 g/t over 1 metre)
  • 2.62 g/t over 19 metres, starting at 202 metres
  • (including 10.9 g/t over 1 metre)
  • 63.1 g/t over 0.5 metres, starting at 297 metres
  • 1.21 g/t over 22 metres, starting at 297 metres
  • (including 8.66 g/t over 1 metre)
  • 1.82 g/t over 16 metres, starting at 53 metres
  • (including 2.54 g/t over 9 metres).
Confederation/Redstar and Rubicon work towards Ontario gold PEAs

Mineralization closer to surface distinguishes
Newman Todd from other Red Lake projects.

The down-hole depths provided don’t reflect vertical depths. Intercept true widths weren’t available. No topcut was applied to assays.

Confederation describes the Newman Todd structural/alteration system as approximately 200 metres in width, with significant intercepts to depths of 850 metres from surface. Most of the April 8 assays came from drilling “within a relatively restricted area” about 200 metres along the zone’s strike length and at least 50 metres on sections perpendicular to strike, the company added. The maiden resource and PEA will focus on the project’s Hinge zone.

“One of the things with Red Lake and this type of geology is that it tends towards more vertically oriented systems,” Confederation president/director Brian Bapty tells ResourceClips. “But we have a very, very long strike length of 1.8 kilometres with good grades near surface. So if you look at other people drilling at Red Lake, they tend to be drilling quite deep. We can find near-surface ounces, which are cheaper to drill, but they don’t speak to the size of the opportunity.”

With size, however, comes challenges. “One of the problems of having a strike length of 1.8 kilometres by at least a kilometre deep is that it would take us years and cost millions to drill the entire thing out. So we want to focus our business plan on the most economic ounces, on what’s the best way forward—a starter pit or direct to underground. Answering those questions early is important to us.”

More assays are pending and drilling continues. Winter allows work on a frozen lake and marsh, Bapty points out. “After break-up we can move back onto solid ground.”

Confederation funds and operates the project under option with Redstar Gold TSXV:RGC. With its initial $5-million work requirement already complete, Confederation can achieve a 50% interest by paying Redstar $75,000 and 150,000 Confed shares. The PEA, along with another 500,000 shares, would boost Confederation’s portion to 70%.

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Premier reports Nevada Gold Assays up to 11.75 g/t over 20.4m, 7.09 g/t over 24.4m

August 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG announced assays from the Helen Zone on its Cove Gold Project, located in the Eureka-Battle Mountain Trend in Nevada. Results include

4.82 grams per tonne gold over 10.97 metres
(including 8.01 g/t over 5.94 metres)
7.09 g/t over 24.38 metres
(including 10.02 g/t over 10.67 metres)
9.67 g/t over 11.89 metres
11.75 g/t over 20.42 metres
(including 49 g/t over 1.55 metres)

VP Exploration Brian Morris commented, “Drill results from the stepout drilling along the strike of the axial plane of the Cove anticline continue to support our geologic model that the Helen Zone is a bedding-controlled Carlin-style deposit which is punctuated by areas of high-grade where feeder structures intersect the axial plane of the anticline. Historic data suggest that this trend could continue for several hundred metres to the southeast underneath the Cove pit in the relatively untested favourable rocks which are host to the Helen Zone.”

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Ewan Downie
President/CEO
807.346.1390

Read an interview with Premier President/CEO Ewan Downie

Read another interview with Premier President/CEO Ewan Downie

by Kevin Michael Grace

Premier reports Ontario Gold Assays including 21.26 g/t over 5m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG announced assays from the Fortune and K-Zone zones of its Trans-Canada Project in northwestern Ontario. Results include

14.3 g/t gold over 4 metres
21.26 g/t over 5.1 metres
18.2 g/t over 9.7 metres
10.77 g/t over 8.3 metres
62.8 g/t over 3 metres
13.66 g/t over 7 metres
64.14 g/t over 4.5 metres
116 g/t over 1 metre
16.31 g/t over 2.2 metres
12.95 g/t over 2.7 metres
12.84 g/t over 3.6 metres

VP Exploration Brian Morris stated, “Drilling continues to demonstrate the high-grade nature of recent vein zones being targeted at [the] Hardrock [zone]. Owing to the ongoing success in delineating the recently identified Fortune Zone, the revised resource estimate is delayed to maximize resources in this horizon as well as to potentially optimize the economics in a PEA. Going forward, we will continue to define the Fortune Zone but also begin exploration on several other prospective high-grade targets.”

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Contact:
Ewan Downie
President/CEO
807.346.1390

by Ted Niles

Premier Gold President Ewan Downie on Ontario JV gold assays of 68.87 g/t gold over 3.5m

March 27th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG in joint venture with Goldcorp TSX:G announced assay results from the Wilmar Mine target area of the Rahill-Bonanza project in Ontario. Highlights include

68.87 g/t gold over 3.5 metres (including 207.43 g/t over 1.2 metres)
46.15 g/t over 4.5 metres
15.12 g/t over 2 metres
19.8 g/t over 1.2 metres
60.01 g/t over 2.6 metres
89.95 g/t over 1 metre

The Rahill-Bonanza project is owned 49% by Premier and 51% by Goldcorp.

The companies also announced that the Cochenour-Red Lake haulage drift that is being constructed has crossed onto the Rahill-Bonanza project. Premier President Ewan Downie tells ResourceClips.com, “On the uncomformity contact, the Rahill-Bonanza joint venture property covers about 4.5 kilometres of the favourable horizon that hosts the Red Lake Mine on one side and the Bruce Channel deposit and Cochenour Mine on the other side. Goldcorp is building a haulage tram to link the two operations at a depth of 5,400 feet. We have been drilling underneath the historic Wilmar mine at depth towards where the tram is going to come through. From that tram we will be exploring the whole strike length of the Red Lake mine trend, which has never been drilled at the depth of the tram. So it’s opening up a whole new horizon for exploration and, hopefully, future development.

I think that by the time Cochenour goes into production—Goldcorp is saying that will be 2014—by then we should have reserves and resources drilled off on the JV as well right beside those workings—Ewan Downie

“In the last four years that Cochenour was in operation all the ore was coming from Wilmar. It was shut down in the 1960s owing to low gold prices. The average grade at Wilmar that they were mining was just over 10 g/t. We’ve been drilling around and beneath the workings, and we’ve been having quite a bit of success, including intermittent multi-ounce-plus drill hits. Today was just more of that.

“We’ll be taking a break in the program for spring break up,” Downie continues. “Then [we will be] drilling from surface throughout the year. In the second half of the year we’re going to start an exploration program on the JV from that tram. That drill program will probably go, on and off, for the next decade, I’d guess. So it’s pretty exciting.

“We’ve got an internal resource on the property, but we probably won’t be doing a 43-101 until we get underground to drill off reserves. I think that by the time Cochenour goes into production—Goldcorp is saying that will be 2014—by then we should have reserves and resources drilled off on the JV as well right beside those workings. Goldcorp has been a great partner there. We continue to move the project forward, and as we define reserves and resources I think that they will bring them online for development.”

Downie notes that the company is well funded and moving forward with $85 million in the bank.

“If it was 100% our property we’d probably be a little more aggressive in drilling, but with Goldcorp funding 100% of the cost of the tram we’re quite happy to move at a bit slower of a pace, given that they’re putting in this major mine development that opens the potential of our JV property.” He concludes, “We’re quite happy with the progress, and as the tram gets completed I think that exploration and development on our project will accelerate. In my opinion it’s one of our core projects, if not the core project; we sit right in the middle of two of Goldcorp’s major gold mines.”

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Contact:
Premier Gold Mines Limited
Ewan Downie
President/CEO
807.346.1390

by Ted Niles

Premier, Goldcorp report Ontario Gold Assays up to 68.7 g/t over 3.5m

March 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG in joint venture with Goldcorp TSX:G announced assay results from the Wilmar Mine target area of the Rahill-Bonanza project in Ontario. Highlights include

68.87 g/t gold over 3.5 metres (including 207.43 g/t over 1.2 metres)
46.15 g/t over 4.5 metres
15.12 g/t over 2 metres
19.8 g/t over 1.2 metres
60.01 g/t over 2.6 metres
89.95 g/t over 1 metre

The Rahill-Bonanza project is owned 49% by Premier and 51% by Goldcorp.

The companies also announced that the Cochenour-Red Lake haulage drift that is being constructed has crossed onto the Rahill-Bonanza project. Premier President Ewan Downie tells ResourceClips.com, “On the uncomformity contact, the Rahill-Bonanza joint venture property covers about 4.5 kilometres of the favourable horizon that hosts the Red Lake Mine on one side and the Bruce Channel deposit and Cochenour Mine on the other side. Goldcorp is building a haulage tram to link the two operations at a depth of 5,400 feet. We have been drilling underneath the historic Wilmar mine at depth towards where the tram is going to come through. From that tram we will be exploring the whole strike length of the Red Lake mine trend, which has never been drilled at the depth of the tram. So it’s opening up a whole new horizon for exploration and, hopefully, future development.

I think that by the time Cochenour goes into production—Goldcorp is saying that will be 2014—by then we should have reserves and resources drilled off on the JV as well right beside those workings—Ewan Downie

“In the last four years that Cochenour was in operation all the ore was coming from Wilmar. It was shut down in the 1960s owing to low gold prices. The average grade at Wilmar that they were mining was just over 10 g/t. We’ve been drilling around and beneath the workings, and we’ve been having quite a bit of success, including intermittent multi-ounce-plus drill hits. Today was just more of that.

“We’ll be taking a break in the program for spring break up,” Downie continues. “Then [we will be] drilling from surface throughout the year. In the second half of the year we’re going to start an exploration program on the JV from that tram. That drill program will probably go, on and off, for the next decade, I’d guess. So it’s pretty exciting.

“We’ve got an internal resource on the property, but we probably won’t be doing a 43-101 until we get underground to drill off reserves. I think that by the time Cochenour goes into production—Goldcorp is saying that will be 2014—by then we should have reserves and resources drilled off on the JV as well right beside those workings. Goldcorp has been a great partner there. We continue to move the project forward, and as we define reserves and resources I think that they will bring them online for development.”

Downie notes that the company is well funded and moving forward with $85 million in the bank.

“If it was 100% our property we’d probably be a little more aggressive in drilling, but with Goldcorp funding 100% of the cost of the tram we’re quite happy to move at a bit slower of a pace, given that they’re putting in this major mine development that opens the potential of our JV property.” He concludes, “We’re quite happy with the progress, and as the tram gets completed I think that exploration and development on our project will accelerate. In my opinion it’s one of our core projects, if not the core project; we sit right in the middle of two of Goldcorp’s major gold mines.”

View Company Profile

Contact:
Premier Gold Mines Limited
Ewan Downie
President/CEO
807.346.1390

by Ted Niles

Premier reports Ontario Gold Assays as high as 10.68 g/t over 16m

February 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG announced drill results from its Trans-Canada project in northwestern Ontario. Highlights include

15.77 g/t gold over 9 metres (including 109 g/t over 1 metre)
10.68 g/t over 16 metres (including 102 g/t over 1.5 metres)
255 g/t over 1 metre
74.2 g/t over 1.5 metres
94.5 g/t over 1.3 metres

VP Exploration Brian Morris said, “Drilling has now extended multiple high-grade horizons over plunge lengths that measure in kilometres. The ongoing program continues to see frequent sightings of visible gold demonstrating the robust nature and consistent down-plunge continuity of mineralization which should allow us to improve the economics of the project.”

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Contact:
Ewan Downie
President/CEO
807.346.1390

by Ted Niles

Premier reports Nevada Gold Results as high as 19.36 g/t over 14.8m

November 9th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Ltd TSX:PG announced assays from its Saddle Project in the Carlin Trend of Nevada. Results include

19.36 g/t gold over 14.8 metres
(including 80.5 g/t over 2.9 metres)
2.34 g/t over 89 metres
(including 8.94 g/t over 7.6 metres)
3.39 g/t over 18 metres
3.77 g/t over 11.6 metres
4.59 g/t over 7.6 metres
2.47 g/t over 6.4 metres
1.54 g/t over 8.5 metres

COO Paul Huet remarked, “The ongoing drilling successes are exciting but not surprising for this prolific district. Saddle is a disseminated high-grade deposit in the heart of the Carlin Trend, in close proximity to good neighbors. The continuity of these deposits is well established and we are confident that we will continue to achieve strong results as we delineate this deposit. The recent assay results continue to allow us to understand and unlock the value of our project.”

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Contact:
Ewan Downie
President/CEO
807.346.1390

by Greg Klein

Premier reports Ontario Results of 21.77 g/t Gold over 5.3m

October 26th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Ltd TSX:PG announced assays from the Key Lake Site of its Trans-Canada Project in Ontario. Results include

21.77 g/t gold over 5.3 metres
6.31 g/t over 7 metres
3.42 g/t over 9.6 metres
5.31 g/t over 5.5 metres
1.42 g/t over 17.5 metres
17.5 g/t over 1.4 metres
2.44 g/t over 10.2 metres

VP of Exploration Tim Twomey remarked, “These results are particularly exciting as they demonstrate the potential of the Key Lake Deposit to host underground-type grades west of the core area, where it remains wide open down plunge. The 2011 Key Lake drilling results have the potential to materially increase the overall gold resources at the Trans-Canada Project. We will be following these results with drilling further west this winter.”

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Contact:
Ewan Downie
President/CEO
807.346.1390

by Greg Klein

Premier reports Nevada Results including 7.05 g/t Gold over 13.2m

September 7th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Ltd TSX:PG announced results from its Saddle Project in the Carlin Trend of Nevada. Assays include 7.05 g/t gold over 13.2 metres (including 10.09 g/t over 6.5 metres), 3.81 g/t over 17.8 metres (including 4.54 g/t over 10.1 metres), 5.17 g/t over 11.7 metres, 14.11 g/t over 4 metres, 4.69 g/t over 4 metres and 3.21 g/t over 5.6 metres.

President/CEO Ewan Downie commented, “Our US division remains the most undervalued portion of Premier’s portfolio, yet contains one of the highest-grade undeveloped gold deposits in the Carlin Trend. To successfully accelerate growth, not only in the US but also in Canada, we intend to grow our management team. Securing Paul Huet as Chief Operating Officer is expected to assist us in growing our US-based asset platform and will enhance our ability to advance our strong project portfolio towards development.”

View Company Profile

Contact:
Ewan Downie
President/CEO
807.346.1390

by Greg Klein

Premier President Ewan Downie on Ontario gold assays of 297.61 g/t over 1m

April 28th, 2011

“The East Bay Project is a joint venture we’ve had for several years. Back in 2004-2005, we drilled off a deposit called the Green Altered Zone in the East Bay ultramafic trend in Red Lake—which isn’t the main mine trend, but it’s another favourable alternation horizon. We drilled around, did some feasibility work, and then it just sat on the shelf. Then, a few years back, Rubicon Minerals Corporation TSX:RMX discovered the F2 Zone, and we’ve been following its development. Goldcorp owns adjacent claims to F2, and they’ve been drilling off their own mineralization there. They’ve learned the style of mineralization, and Rubicon has helped us understand what structure they were looking at. East Bay is a fairly large project, and we have multiple similar structures to the F2 deposit that are completed untested by drilling. So in 2010, we did a winter program, and we intersected about an ounce and a half in a narrow-vein structure. It’s best to drill this target in the winter because of the dip of the rock, but we did a follow-up hole last summer; and we hit six ounces per ton, approximately 200 metres north of the original intercept. So this winter [2011], we completed a multihole drill program to follow up those first two high-grade intercepts.

“The first two holes that we released late last week were further step-out holes to the north. So, we’ve now extended the high-grade, narrow-vein structure to a strike length of 400 metres along strike. It remains open, and is wide open down dip. We drilled multiple more holes and are waiting on assays. It’s an early-stage target, and now we’ve identified that there are two parallel horizons. Hopefully, they’re continuous. It’ll take a lot more drilling to establish continuity. Right now, we’re contemplating putting a barge on the water and drilling there, or doing some additional land drilling—drilling down dip like we did last summer.

“As far as these assays are concerned, I’m a huge fan of narrow-vein, high-grade mineralization. That’s what’s made Red Lake. Any time you hit high grade in Red Lake it’s exciting, so we’re looking forward to the follow-up results to this.

“What Rubicon’s done is very positive for the East Bay trend, and it’s inspired us to go back and look at this joint venture with Goldcorp, which has resulted in a discovery already that could become pretty significant with additional drilling.

“We have another JV meeting in about a month—which we do every quarter—and by then we should have all of the results from this drilling. Then we’ll discuss what we do next on East Bay. Hopefully we’ll continue drilling this summer. We’ve got additional targets that remain untested. Right now we’ve got four holes over a strike length of 400 metres, so we need a fair amount of additional drilling before we look at a resource estimate. The objective is to drill off a sufficient resource that would justify an underground program.

“We’re still drilling on our main JV, which is the Rayhill Bonanza Project. We’re expecting, hopefully, some pretty exciting results in the coming week.”

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