Premier Gold drills 5.5 m of 16.86 g/t Au at Hardrock
posted on
Apr 15, 2009 09:36AM
Mr. Ewan Downie reports
PREMIER HARDROCK DRILLING INTERSECTS HIGH GRADE GOLD AT TENACITY 16.86G/T AUACROSS 5.5M
THUNDER BAY, ON, April 15 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that ongoing drilling at the Hardrock Project in Geraldton,Northwestern Ontario continues to return high-grade gold mineralization in the Tenacity Zone, as well as high grade narrow vein mineralization in a deepertarget (KL Zone).
This drilling suggests that the Tenacity Zone may improve with depth as confirmed by an intersection of 16.86 grams per tonne gold (g/t Au)across 5.5 metres (m) in the furthest down-plunge section drilled to date. Additionally, drilling has confirmed high grade gold in a deeper target beneath Tenacity with intersections of 40.1g/t Au across 1.0m and 17.45g/t Au across 1.9m. Highlights of recent Tenacity drilling include:
Drilling suggests the potential to develop both open pit and underground resources with apparent improvement in grade and continuity down-plunge.
Exploration drilling (three holes) confirmed high grade gold mineralization within a narrow vein target with intersections in excess of 17.14 g/t Au ((greater than) 0.50 oz/ton).----.
Tenacity zone Drilling at the Tenacity Zone has confirmed the potential for both open pit and underground-style gold mineralization.
Drilling has defined open pit-style mineralization over a strike length of approximately 400 metres and is now testing for higher-grade mineralization that could be amenable to mining from a ramp below the potential pit workings. Mineralization remains open at depth with the strongest intersection being seen in hole TN025, the first hole with assays from the western-most (down-plunge) section drilled to date.
Tenacity intersections of more than 20 metres have been visually confirmed down-dip from hole TN025, which returned 16.86g/t Au across 5.5m.A longitudinal section of the Tenacity Zone, including historic intercepts, is available on the Premier website or by pressing the following link,www.premiergoldmines.com ----.
True widths estimated at approximately 70% of intersection widths(xx) NSV - No significant assay values These results in both the Tenacity and the KL Zones demonstrate continuity and grade, supporting management's belief that historic and new results will beutilized in a NI 43-101 compliant resource calculation, which is expected to be completed in Q4 2009.
The current program at Hardrock is expected to consist of more than 50,000 metres of definition and exploration drilling.---.
Initial drilling is focusing on delineating both open pit and underground resources with the goal of defining a multi-million ounce gold resource that can be moved quickly towards development (See references to historical resources above).
The Project offers development advantages with the Trans-Canada Highway,Trans-Canada Pipeline, and major power lines running through the center of the property.
Significant potential exists for developing resources in several areas including:
1) Open pit-style mineralization at the site of the originaldiscovery where a resource containing several hundred thousand ounces of goldwas partially drilled off by previous operators;
2) Several newer high-grade discoveries have been made throughout this large property package that havereceived little to no follow-up;
3) Resource blocks reported to remain withinthe mine workings; and,
4) The main mined zones which remain open below the 600m Level.----.