TORONTO, June 25, 2015 /CNW/ - Centerra Gold Inc. ("Centerra") (TSX: CG) and Premier Gold Mines Limited ("Premier") (TSX: PG) are pleased to announce results of a diamond drill program comprised of 62 drill holes for a total of 17,428 metres at the Partnership's Hardrock Project on the Trans-Canada Property located in the Geraldton-Beardmore Greenstone Belt in northwestern Ontario.
The drill campaign was designed to test specific portions of Premier's July 2014 resource block model for the Hardrock Deposit and to gain a better understanding of the distribution and grade of the gold mineralization in the deposit. Overall, the drill campaign was successful in continuing to identify gold mineralization within the current optimized pit boundary.
Assay results are still pending for seven of the completed drill holes. An additional three holes are awaiting QA/QC verification. Once these assays have been received and quality control checks performed these results will be available and the complete set of assay results and geological information for all 62 drill holes of the 2015 campaign will be added to the Hardrock drill hole database and incorporated into an updated resource block model for the Hardrock Deposit.
Work also continues on various technical studies, environmental and social impact assessments, and on obtaining the necessary permitting for the Hardrock Deposit. A feasibility study on the Hardrock Deposit is expected to be completed in late 2015 or early 2016.
A listing of the drill results, drill hole locations and plan map for the Hardrock Project have been filed on the System for Electronic Document Analysis and Retrieval ('SEDAR') at www.sedar.com and are available at the companies' web sites.
Premier Gold Mines Limited - Annual General Meeting
Premier would like to invite all current and potential investors to its Investor Day presentation at 4:30pm EST, today, June 25, 2015 following the Company's Annual Shareholders Meeting. The presentation will be held at the Toronto Board of Trade, 1 First Canadian Place, Toronto, Ontario and will also be hosted via webcast from the company's website www.premiergoldmines.com.
Qualified Person & QA/QC
Exploration information and related scientific and technical information in this news release regarding the Hardrock Deposit were prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 (NI-43-101) and were prepared, reviewed, verified and compiled by the geological staff of TCP GP Corporation, a 50/50 partnership between Centerra and Premier, under the supervision of Dyane Marielle Duquette, Member of the Association of Professional Geoscientists of Ontario (APGO) and the Ordre des Géologues du Québec (OGQ), TCP GP Corporation's Director of Geology, who is the qualified person for the purpose of NI 43-101. The qualified person has verified the data disclosed, including sampling, analytical, and test data underlying the drill results. Sample preparation, analytical techniques, laboratories used and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industry standards and independent certified assay labs are used. A description of the quality assurance-quality control protocols is discussed in the Trans-Canada Property Technical Report dated March 20, 2015.
Premier is one of North America's leading exploration companies with a high quality pipeline of projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States that includes world class gold mining districts such as Red Lake and Geraldton in Ontario and the Battle Mountain-Eureka Trend in Nevada.
Centerra is a leading North American-based gold producer operating, developing, exploring and acquiring gold properties in Asia, Canada and other markets worldwide. Centerra is the largest Western-based gold producer in Central Asia. Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is headquartered in Toronto, Ontario, Canada.
Cautionary Note Regarding Forward-Looking Information
This news release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation, including statements which are not historical facts. Forward-looking statements in this news release includes statements relating the incorporation of drill hole data in to the Hardrock drill hole database, plans to update the resource block model for the Hardrock Deposit, and the expected timing of a completed feasibility study for the Hardrock Deposit. 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 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", the risks identified in Centerra's annual information form under the heading "Risks that can affect our business" and other risks identified in each of Premier's and Centerra's other filings with the Canadian securities regulators. 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 forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and each of Premier and Centerra 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.
SOURCE Premier Gold Mines Limited
For further information:
Premier Gold Mines Limited
Manager, Corporate Development, Investor Relations
Centerra Gold Inc.
John W. Pearson
Vice President, Investor Relations