December 9, 2009-09:46 ET - News Release Mr. Ewan Downie reports
PREMIER DRILLING CONTINUES TO EXPAND HIGH-GRADE OPEN PIT POTENTIAL AT HARDROCK INCLUDING 6.91 G/T GOLD OVER 18.7 METRES
Premier Gold Mines Ltd.'s drilling continues to expand mineralization within the NN (open-pit target) zone at the Hardrock project in Northwestern Ontario. Additional drilling has intersected multiple zones of high-grade, underground-style mineralization in the first hole that tested the F2 and the Northeast Zone target areas. Highlights from recent drilling include the following results: ------.
Complete drill results are contained in Tables 1 and 2. Figure 1 profiles new collar locations in plan view.
Due to these new outstanding results, which expand near-surface mineralization along strike to the west, the upcoming NI43-101 resource calculation will be delayed to incorporate these drillholes. Therefore, the initial compliant resource is now expected to be released in January 2010. As well, these results from F2 and Northeast Zones continue to support Premier's belief that additional mineral resources, amenable to underground mining methods, may be delineated at depth in multiple zones. It is Premier's intention to aggressively pursue this style of drill target during 2010, with the goal of amending the initial mineral resource sometime after the end of the second quarter.
"It is truly remarkable that we are continuing to expand the near-surface mineralized zones westward. This was unexpected and of such significance that we've decided to incorporate the new drill-hits into the resource evaluation." stated Tim Twomey, Premier's Exploration Manager.
Ewan Downie, President of Premier further states, "The outstanding results that continue to be intersected in both our open pit and underground target zones demonstrate the potential for the Hardrock Project to host a multi-million ounce gold resource that can be moved quickly towards feasibility". ---.
The Hardrock Project is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK) (Premier holds a 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold from shallow depths (600 metres) between 1938 and 1968. The first hole from the current program that tested the North Zone horizon below the bottom mine level at Hardrock returned an impressive 38.2g/t Au (1.14 oz/t) across 4.8m. Follow-up drilling has intersected broad mineralized zones that further demonstrate the potential for the project to host a multi-million ounce resource. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.
