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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 samples.
"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
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