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
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.
To view the drill results and drill hole locations referred to in this
news release, please click here or visit the companies' web sites at: www.premiergoldmines.com and www.centerragold.com.
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
PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9919_DOC_EN_43846.pdf
For further information:
Premier Gold Mines Limited
Manager, Corporate Development, Investor Relations
Centerra Gold Inc.
John W. Pearson
Vice President, Investor Relations