Premier extends gold mineralization west at Hasaga Red Lake

 

THUNDER BAY, ON, Dec. 7, 2015 /CNW/ - Premier Gold Mines Limited (TSX-PG) is pleased to provide its latest update from ongoing surface drilling on the Hasaga Porphyry target at the Company's 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario.  Drilling continues to extend near surface mineralization to the west with highlight results that include assays of up to 1.68 grams per tonne gold (g/t Au) across 49.0 metres (m) and 7.94 g/t Au across 11.0 m

The Hasaga Property is host to the past-producing Hasaga and Gold Shore Mines and is strategically-located proximal to the Balmer-Confederation regional unconformity, recognized as an important geologic feature at the multi-million ounce past and currently producing Red Lake area mines.

Table 1 provides a more comprehensive summary of highlight results from additional holes drilled at the Hasaga Porphyry target (previously released results were up to HMP038) which is considered open to the west and at depth.  Recent drilling has intersected a new near-surface mineralized zone in the footwall of the Hasaga Porphyry noted as F1 in Table 1 with intercepts including 1.50 g/t Au across 18.0m. 

Highlights from holes with completed assays in the Hasaga Porphyry target area include:

Hasaga Porphyry (reporting holes HMP039-077)

  • HMP039 – 1.68 g/t Au over 49.0 m including 2.41 g/t Au over 17.6 m.
  • HMP053 – 7.94 g/t Au over 11.0 m and 4.67 g/t Au over 4.0 m.
  • HMP069 – 1.32 g/t Au over 27.0 m and 1.54 g/t Au over 16.0 m.
  • HMP074 – 0.96 g/t Au over 36.0 m and 1.72 g/t Au over 37.0 m.
  • HMP076 – 1.50 g/t Au over 18.0 m and 0.87 g/t Au over 34.0 m.

 

Premier anticipates stopping drilling operations at Hasaga in mid-December for the holiday season.  In all, more than 60,000 metres of diamond drilling will have been completed on the property during the 2015 exploration program and have given management sufficient confidence in the opportunity to execute a recent land purchase to expand the size of the property to some 1200 hectares.

"We have accomplished a lot in a relatively short period of time in 2015 and are generating solid results," commented Stephen McGibbon, Executive Vice-President, Corporate and Project Development on the Company's C-Suite Blog (http://www.premiergoldmines.com/news/c-suite-blog). "Our team has an aggressive goal in 2016 that includes reporting an initial mineral resource estimate on the Hasaga Porphyry area by yearend."   

Prior to drilling resuming in Q1 of 2016, it is expected that an upgraded litho-structural model will be completed at the Hasaga target area with which to finalize the drilling plan for the coming year.  The 2016 exploration program will also include additional stripping, mapping and channel sampling on relevant outcrop exposures in addition to step-out drilling along strike on the new property area.  Initial metallurgical testing is expected to be undertaken.

Table 1:  Highlight Results From Hole HMP039 to HMP077










HOLE_ID

COORDINATES

DIP/AZIMUTH

SECTION

INTERCEPT

FROM

TO

LENGTH

GRADE

HMP039

441427 E / 5651149 N

-45 / 334

E1200

H1

424.0

473.0

49.0

1.68





including

436.4

454.0

17.6

2.41

HMP041

441452 E / 5651091 N

-45 / 333

E1200

H1

407.0

467.0

60.0

0.93

HMP042

441515 E / 5651188 N

-45 / 332

E1300

H1

435.0

451.0

16.0

0.42

HMP046

441609 E / 5651439 N

-53 / 332

E1500

H1

214.0

230.0

16.0

2.72





including

214.0

219.0

5.0

6.05

HMP047

441609 E / 5651439 N

-30 / 312

E1450

H1

140.0

159.0

19.0

0.64





including

140.0

148.0

8.0

1.08

HMP048

441580 E / 5651287 N

-35 / 332

E1400

H1

384.0

392.0

8.0

2.29

HMP049

441609 E / 5651439 N

-42 / 311

E1450

H1

171.0

189.0

18.0

1.56

HMP050

441609 E / 5651439 N

-50 / 311

E1450

H1

206.0

228.0

22.0

1.35

HMP051

441601 E / 5651244 N

-45 / 331

E1400

H1

441.0

452.0

11.0

1.44





H2

463.0

483.0

20.0

0.76

HMP053

441610 E / 5651440 N

-40 / 352

E1550

H1

155.0

166.0

11.0

7.94





including

156.0

159.0

3.0

28.03





H1

184.0

188.0

4.0

4.67

HMP054

441624 E / 5651204 N

-45 / 332

E1400

H1

523.0

534.0

11.0

0.59

HMP055

441610 E / 5651440 N

-50 / 352

E1550

H1

199.0

209.0

10.0

0.49





H2

292.0

311.0

19.0

1.42

HMP057

441539 E / 5651379 N

-30 / 331

E1400

H1

100.0

106.0

6.0

6.61





H1

131.0

139.0

8.0

0.78





H2

160.0

165.0

5.0

1.41





H2

175.0

178.0

3.0

1.95

HMP058

441541 E / 5651146 N

-48 / 334

E1300

H1

547.0

552.0

5.0

0.88





H2

578.0

591.0

13.0

0.76

HMP059

441537 E / 5651381 N

-53 / 333

E1400

H1

245.0

261.0

16.0

1.23

HMP060

441535 E / 5651382 N

-32 / 306

E1350

H1

116.0

135.0

19.0

0.74





H2

163.0

180.0

17.0

1.11






192.0

199.0

7.0

0.70






211.5

219.0

7.5

0.64

HMP061

441449 E / 5651091 N

-49 / 332

E1400

H1

587.0

592.0

5.0

1.41

HMP062

441536 E / 5651381 N

-49 / 310

E1350

H1

148.5

159.0

10.5

1.71





H2

244.0

256.0

12.0

4.80





including

247.0

250.0

3.0

15.14

HMP065

441467 E / 5651314 N

-30 / 332

E1300


148.0

158.0

10.0

0.54





H1

163.0

176.0

13.0

1.19






187.0

194.0

7.0

0.80





H2

224.0

232.0

8.0

1.24

HMP067

441465 E / 5651315 N

-32 / 321

E1250


139.5

157.0

17.5

0.73





H1

170.0

182.0

12.0

0.60





H2

206.0

235.0

29.0

1.81





including

207.0

214.0

7.0

4.39





H3

261.0

273.0

12.0

1.32

HMP068

441465 E / 5651315 N

-42 / 320

E1250

H1

196.0

212.0

16.0

0.79






224.0

251.0

27.0

0.53





H2

268.0

281.0

13.0

1.00





H3

322.5

333.0

10.5

1.16

HMP069

441405 E / 5651202 N

-45 / 334

E1200

H1

289.0

324.0

35.0

0.69





H2

339.0

366.0

27.0

1.32





H3

384.0

400.0

16.0

1.54

HMP070

441465 E / 5651314 N

-51 / 321

E1250

H1

171.0

200.0

29.0

0.55





H2

218.0

255.0

37.0

1.12





H3

295.0

309.0

14.0

2.02

HMP071

441384 E / 5651240 N

-32 / 335

E1200

H1

156.0

170.0

14.0

0.65





H2

205.0

222.0

17.0

1.15





H3

243.0

260.0

17.0

3.77

HMP073

441382 E / 5651240 N

-31 / 327

E1200

H1

153.0

169.0

16.0

0.84





H2

183.0

207.0

24.0

0.76





H3

215.0

279.0

64.0

0.97

HMP074

441382 E / 5651240 N

-41 / 319

E1200

H2

195.0

231.0

36.0

0.96





H3

251.0

288.0

37.0

1.72

HMP075

441382 E / 5651240 N

-52 / 319

E1150

H2

286.0

320.0

34.0

1.28





H3

379.0

390.0

11.0

0.88

HMP076

441385 E / 5651094 N

-30 / 332

E1100

F1

30.0

48.0

18.0

1.50





H1

223.0

257.0

34.0

0.87





H1

265.0

280.0

15.0

0.60





H2

317.0

325.0

8.0

0.69





H3

361.0

369.0

8.0

0.83

HMP077

441245 E / 5651094 N

-42 / 332

E1000

F1

47.0

57.0

10.0

0.96





H1

250.0

276.0

26.0

0.84





H2

286.0

302.0

16.0

1.31





H3

330.0

344.0

14.0

0.96

 

* - True widths range between 65% and 90% of reported results  

In most cases, the mineralization highlighted in Table 1 is surrounded by broad haloes of lower grade mineralization (typically less than 0.30 g/t Au) which would result in some intercepts exceeding 100 metres in core length.  Apparent gaps in the numerical "HOLE_ ID" sequence listed in Table 1 reflect those holes which don't contain higher grade composite intervals, but often do contain the lower grade haloes over variable widths.

Figures 1 through 4 below provide a variety of plan and section views profiling the results in Table 1 within a schematic geological context.

Premier believes that Hasaga and Gold Shore, underground mines that ceased production in the early 1950's, have the potential to host gold mineralization that may be amenable to open pit mining methods in addition to higher grade underground mineable mineralization.  Current drill targets include the "Hasaga Porphyry Zone", testing the porphyry rock unit that hosts the past-producing Hasaga and Howey Gold Mines, where in excess of 600,000 ounces of gold was produced by underground mining methods, and the "Central Zone" where drilling has delineated widespread gold mineralization in the Dome Stock granodiorite.

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.  Assay results are from core samples sent to either Accurassay Laboratories or Activation Labs, both accredited mineral analysis laboratories in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods. 

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 is well financed with approximately $75 million in cash and investments and a portfolio of advanced-stage assets in world class gold mining districts such as Red Lake and Geraldton in Ontario and the most prolific gold trends in Nevada.

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.

SOURCE Premier Gold Mines Limited

Image with caption: "Figure 1: Plan view of Hasaga Porphyry drilling (CNW Group/Premier Gold Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20151207_C4782_PHOTO_EN_559029.jpg

Image with caption: "Figure 2: Cross-Section A-A' of Hasaga Porphyry (CNW Group/Premier Gold Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20151207_C4782_PHOTO_EN_559031.jpg

Image with caption: "Figure 3: Cross-Section B-B' of Hasaga Porphyry (CNW Group/Premier Gold Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20151207_C4782_PHOTO_EN_559033.jpg

Image with caption: "Figure 4: Longitudinal View C-C' of Hasaga Porphyry (CNW Group/Premier Gold Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20151207_C4782_PHOTO_EN_559035.jpg

For further information: Ewan Downie, President & CEO, Phone: 807-346-1390, Fax: 807-346-1381, e-mail: Info@premiergoldmines.com, Web Site: www.premiergoldmines.com

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