The Hardrock project is operated under a joint venture with Roxmark Mines Ltd. ((Premier holds a 70-per-cent interest). Roxmark “RMK” a 30-per-cent interest).
News Release – Oct.13, 2009- 09:04 ET - Mr. Ewan Downie reports
PREMIER EXPANDS HIGH-GRADE GOLD ZONES AT HARDROCK 12.5G/T GOLD ACROSS 6.7M
Premier Gold Mines Ltd.'s diamond drilling continues to delineate multiple high-grade gold zones at the Hardrock project in Northwestern Ontario. Highlights include high-grade underground potential in the North Limb (NL) and High Grade North (HGN) zones located in close proximity to the EP (open-pit) zone, and open-pit potential in the New North (NN) zone:
- Drilling at the NN zone suggests the potential to expand the proposed EP zone pit envelope west by as much as 300 metres; significant intercepts include results up to 6.42 g/t Au across 22.4 metres.
- Recent drilling has defined two gold-bearing zones proximal to, and north of, the EP zone, with grades up to 12.5 grams per tonne gold across 6.7 metres in the NL zone and 1,141.5 g/t Au across two metres in the HGN zone.
- Expansion drilling at the South Porphyry (SP) zone continues to define high-grade mineralization with intersections up to 16.72 g/t Au across three metres.----.
Continuing work at Hardrock is testing both open-pit and underground-type targets. The EP zone is one of several potential open-pit zones that are being detailed in preparation for the completion of a National Instrument-43-101-compliant resource calculation which is expected to be completed in the fourth quarter of 2009 (initial open-pit resource). ----.
Significant potential exists for developing resources in several areas including:
Open-pit-style mineralization at sites where historic resources were partially delineated by previous operators, in addition to newly defined mineralization at the Tenacity, EP and Kailey zones;
- Numerous surface and historic high-grade gold intercepts throughout the large property package that have received little to no follow-up;
- Historic resource blocks reported to remain within the mine workings, including high-grade vein targets;
- The main mined zones which remain open below the 600-metre level.
The Hardrock project is operated under a joint venture with Roxmark Mines Ltd. (Premier holds a 70-per-cent interest). The Hardrock project is host to several past-producing mines which collectively produced nearly three million ounces of gold primarily from relatively shallow depths (600 metres) from 1938 to 1968. Importantly, the Hardrock project has the potential for defining several styles of mineralization capable of hosting resources, with grades and widths similar to many of Ontario's major gold mines including open-pit-style mineralization with grades exceeding 1.5 g/t Au (Timmins, Hemlo), broad zones of mineralization with grades averaging over five g/t Au (Musselwhite), and narrow vein zones with higher gold grades often exceeding seven g/t (Red Lake, Pickle Lake). ---.
