The Hardrock project is operated under a joint venture with Roxmark Mines Ltd. Premier holds a 70-per-cent interest). Continuing work at Hardrock is testing both open pit and underground type targets. The EP and NN zones are two of several potential open pit zones that are being detailed in preparation for the completion of an NI 43-101-compliant resource calculation which is expected to be completed in the fourth quarter of 2009 (initial open pit resource).
Premier Gold drills 19.7 ft of 1.45 opt Au at Hardrock
Oct. 27, 2009- 08:29 ET - News Release Mr. Ewan Downie reports
PREMIER EXPANDS HIGH-GRADE ZONES AT HARDROCK - 1.45 OZ/TON GOLD OVER 20 FEET Premier Gold Mines Ltd.'s drilling continues to delineate multiple high-grade gold zones at the Hardrock project in Northwestern Ontario. Highlights from recent drilling include additional high-grade intersections in the High Grade North (HGN) zone and the discovery of near-surface high-grade vein-style mineralization in the New North (NN) zone:
- Drilling to follow up intersections of up to 1,141.5 grams per tonne (g/t) Au across 2.0 metres in the HGN zone continues to define high-grade vein-style mineralization with new intercepts of up to 49.81 g/t Au across 6.0 m.
- Drilling at the NN zone has intersected near-surface high-grade vein-style mineralization with intersections of up to 39.15 g/t Au across 3.6 m in addition to further defining potentially open-pit-style mineralization along strike from the EP zone.
- Expansion drilling at the South Porphyry (SP) zone continues to define high-grade mineralization with intersections of up to 15.68 g/t Au across 3.4 m.
----. "This is a very significant discovery for the Hardrock project," says Ewan Downie, president. "The NN zone mineralization appears to be continuous with EP zone mineralization and has the potential to expand the EP zone open-pit-type mineralization to the west, from 700-metre strike length to more than 1,100 metres in strike length."
Drilling in the SP zone has returned multiple intersections of high-grade gold mineralization over a plunge length of approximately 900 metres with new results of up to 15.68 g/t Au (0.46 ounce per ton) across 3.4 m (11.2 feet) intersected in MM048, when following up previously announced intercepts of 6.60 g/t Au (0.19 ounce per ton) across 32.6 m (107.0 feet) in hole MM014, 17.14 g/t Au (0.50 ounce per ton) across 7.0 m (23.0 feet) in hole MM005, and 9.70 g/t Au (0.28 ounce per ton) across 11.8 m (38.7 feet) in hole MM024 down plunge from the historically mined SP zone. The SP zone was partially mined in the upper levels of the mine with 264,354 tonnes (291,428 tons) of ore mined at an average grade of 8.37 g/t Au (0.244 ounce per ton). Intermittent historic drilling that tested the unmined down-plunge extension of the SP zone suggests the potential to outline mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet). ---.
Continuing work at Hardrock is testing both open pit and underground type targets. The EP and NN zones are two of several potential open pit zones that are being detailed in preparation for the completion of an NI 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 m level. ----.
