09:10 AM EDT, 08/30/2017 (MT Newswires) -- Premier Gold Mines (PG.TO) - a gold producer and an exploration and development company with precious metal projects in Canada, U.S., and Mexico - on Wednesday reported "postitive results" in its update on the 2017 drilling program at its wholly owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario.

One of the report's highlights was HMP 17-88-02-W2 that grades 22.56 g/t across 7.0 m from 898.0 m including 125.0 g/t across 1.0 m.

Executive VP Stephen McGibbon said: "The positive results of our 2017 program adds to the success of our 2016 campaign, which confirmed a multi-million ounce resource of near surface mineralization."

McGibbon added that the company continues to extend mineralization at depth at C-Zone and towards the Buffalo Zone, and that this confirms the continuity of mineralization proximal to historic intercepts on the property.

"Based on these positive preliminary results from the two primary target areas Premier plans to continue drilling during the remainder of the year. One drill is currently active on the Hasaga Property," he said.

The 2017 program is primarily focused on testing the potential for deeper higher grade mineralization in the Hasaga porphyry. Historic drill holes with positive results, HRL-88-02, HRL-88-03 and HRL96-02 were not adequately followed up. In a statement, the company said that through the program it is targeting potential higher grade mineralization along the Hasaga Porphyry trend at depth.

Shares on Tuesday eased down 1.3% to $3.90 apiece.