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10:23 AM EDT, 09/19/2016 (MT Newswires) -- Premier Gold Mines Limited (PG) provided Monday an update of assays from the summer surface drilling program on the company's 100%-owned Hasaga Project (Buffalo target) in the Red Lake gold mining district of Northwestern Ontario. A statement said these "exceptional" results support Premier's confidence in continued exploration at the Buffalo target in 2016.
According to PG, the Hasaga Property is Premier's largest exploration program being conducted in Canada in 2016. It said the 50,000 metre drilling campaign and $7.0 million overall project budget comes on the heels of more than 60,000 metres of drilling that was conducted in 2015. To date, some 45,000 metres of drilling has been completed in 2016.
Highlights from the Buffalo target area include the following: HMP127 intersected 69.0m of 1.80 g/t Au beginning at 126.0m, including 3.0m of 25.59 g/t Au beginning at 192.0m; HMP128 intersected 37.0m of 2.29 g/t Au beginning at 77.0m, including 3.0m of 11.46 g/t Au beginning at 90.0m; HMP132 intersected 31.0m of 2.99 g/t Au beginning at 156.0m, including 4.0m of 7.98 g/t Au beginning at 158.0m and 4.0m of 7.18 g/t Au beginning at 173.0m; and HMP136 intersected 67.0m of 3.66 g/t Au beginning at 170.0m, including 20.0m of 7.18 g/t Au beginning at 199.0m.
Premier's shares were last up 1.4% at $4.41 apiece.
Price: 4.41, Change: +0.06, Percent Change: +1.4
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