07:28 AM EDT, 03/27/2019 (MT Newswires) -- Premier Gold Mines (PG.TO) said Wednesday that two drills are now in operation at its Cove Property and McCoy-Cove Property, where Barrick Gold (ABX.TO) holds an option to earn a 60%.

The company said the targets will include the Beacon, Lighthouse, Antenna, Alpha, Apex, Favret Floor, Saddle South, and Clara structures. Exploration drilling is also underway on the Cove Carve-Out property targeting the Clara and East pit polymetallic discovery from the 2018 program.

Barrick may earn up to a 60% interest in the property by spending US$22.5 Million before June 30, 2022. Premier will retain 100% ownership over the Cove Deposit portion that includes the high-grade Helen, Gap, 2201 and CSD Deposits.

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