10:42 AM EDT, 03/21/2017 (MT Newswires) -- Premier Gold Mines (PG.TO) shares have moved higher after the company released an updated Mineral Resource estimate for its 100%-owned McCoy-Cove Property in Nevada.

Highlights of the estimate include: Total Indicated Mineral Resources of 614,000 tonnes grading 11.57 g/t Au (228,000 ounces of gold), an increase of 59% versus the 2013 resource estimate; Total Inferred Mineral Resources of 3,378,000 tonnes grading 12.17 g/t Au (1,322,000 ounces of gold), an increase of 374% versus the 2013 resource estimate.

The update increased the grade of both Indicated and Inferred mineral resources of 11% and 24% respectively. A

Preliminary Economic Assessment is underway as part of a US$13.4M program in 2017.

"With this updated resource, McCoy-Cove now ranks amongst the most significant exploration successes in recent memory in Nevada," commented President & CEO Ewan Downie on the Company's C-Suite Blog.

Premier's shares were last up 8.7% at $2.87.

Price: 2.87, Change: +0.23, Percent Change: +8.7