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THUNDER BAY, ON, May 28, 2013 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that an important permitting milestone has been
achieved at its Cove Gold Project in Nevada. Recently, the Bureau of
Land Management (BLM) delivered to Premier its Record of Decision,
which confirmed approval for a Plan of Operation (POO) for the
Cove-Helen Underground Mine Project, the application for which was
received by the BLM on April 29, 2013. The approval includes a
requirement to post a reclamation bond and allows Premier, through
wholly-owned subsidiary Au-Reka Gold Corporation, up to 100 acres of
disturbance for exploration and development drilling. Also conditional
with the approval of the Permit is an obligation to ensure adherence to
practices that will safeguard a wide range of specific criteria, as
outlined in the approval document.
Approval of the POO will allow future exploration at Cove to be
conducted more efficiently, thereby lowering costs and speeding up the
results driven program. Premier will now expand its focus to include:
Drill testing other known ore-hosting structures including the Bay,
Lighthouse and Cay fault zones within the deeper and more favourable
carbonate host rocks that also host the Helen Zone.
Testing exploration potential in undrilled structural zones north and
east of the original Cove pit.
Drilling the Cove anticline system to depth, including the Windy Point
target located some 700 metres to the west of the Helen Zone.
Target the northeast limb of the Cove anticline from new drill platforms
allowing more favourable southwest directed holes.
With additional bonding monies, the approved POO will allow Premier to
construct a portal and ramp to further explore the high-grade Helen
Zone using underground drill stations, and collect potential bulk
"It's gratifying to work where the permitting process is both clearly
defined and timely, reaffirming Premier's strategy of working in mining
favourable jurisdictions particularly in light of some the recent
issues faced by mining companies in foreign locations. This is one of
the reasons Nevada was on our radar screen when we chose to expand our
exploration outside of Ontario" commented Ewan Downie, Premier's
President & CEO, "Premier's three core projects are now all permitted
for underground exploration, providing the Company significant
flexibility as to how we grow our project portfolio."
The Cove Gold Project is located within the Eureka - Battle Mountain
gold trend of North Central Nevada, a safe mining jurisdiction that is
host to multiple world class Carlin-style gold deposits. Premier
acquired the Project in 2012 and regards the Helen Zone mineral
resource to be classic Carlin-style gold mineralization with
significant upside potential. Currently, the deposit is open in all
directions. A multitude of other quality exploration targets have been
identified on the property and remain to be tested.
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 fully financed with 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
For further information:
Ewan Downie, President & CEO
Web Site: www.premiergoldmines.com