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High-Grade Delineation Continues at Premier’s Mercedes Mine

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High-Grade Delineation Continues at Premier’s Mercedes Mine

 

 

 

 

 

Premier Gold Mines Limited (TSX: PG) (OTCPK: PIRGF) is pleased to announce an update on its 42,000 m core drilling program at the Company’s 100%-owned Mercedes Mine, located in the State of Sonora, Mexico. The 2019 drilling campaign is currently focused on delineating new mineral resources in the Lupita Extension, while exploration is still testing potential at Neo (Figure 1). Highlights from August and September include, in true thickness:

 

  • 3.6 m of 7.18 g/t Au & 54.38 g/t Ag (L19-441D)
  • 1.8 m of 24.24 g/t Au & 1.79.43 g/t Ag (L19-445D)
  • 3.4 m of 10.47 g/t Au & 63.60 g/t Ag (L19-448D)
  • 4.4 m of 8.86 g/t Au & 66.69 g/t Ag (L19-451D)
  • 3.1 m of 13.65 g/t Au & 80.01 Ag g/t (L19-429D) at Neo, within a stockwork system similar to Diluvio

 

“Our Lupita Extension drilling is returning intercepts well in excess of average production grades,” commented Stephen McGibbon, Executive Vice-President. “Early results from the San Martin/Neo target area suggest that our 2020 campaign will confirm the potential for significant resource expansion as well”.

 

Lupita Extension

 

The Phase 2 infill program at Lupita Extension continues to increase potential resource mineralization by demonstrating the continuity of the vein to the west. Figure 1 presents the evolution of the grade thickness map from the beginning of 2019 to today. New results are enlarging the high-grade zones, as well as defining its limit, which will guide the focus of future drilling.

 

Drilling will delineate the mineralized footprint discovered in 2019 with a 30 m x 30 m grid over the area. In August and September, a total of 34 drill holes, representing 5,855 m of drilling, were completed. An additional 12 drill holes assay results are pending.

 

Neo Target

 

Neo represents a potentially new discovery at Mercedes, located 400 m north of San Martin. It was identified as a possible extension to the Diluvio system due to geological similarity. The first hole followed up an historical drill hole, L15-258D that contained 1.53 m @ 6.95 g/t Au & 4.00 g/t Ag. L19-429D, located 110 m to the east, successfully returned 3.1 m of 13.65 g/t Au & 80.01 g/t Ag. Two additional holes drilled to the east had low-grade results, one of which was hosted within 30 m of the same host rock as Diluvio. Drilling in 2020 will further test the potential to expand the mineralization up to 900 m east to Diluvio.

 

 

Table 1 – Highlight Intercepts from Lupita Extension

 

 

Hole ID Target From
m
To
m
Length
m
True Width
m
Au
g/t
Ag
g/t
L19-426D Lupita Extension 255.9 257.4 1.5 1.1 2.34 32.00
L19-432D Lupita Extension 205.5 207.0 1.6 1.5 4.72 63.84
L19-433D Lupita Extension 188.3 190.0 1.6 1.6 2.20 67.45
L19-434D Lupita Extension 187.6 190.7 3.1 3.1 3.24 37.39
L19-435D Lupita Extension 183.0 185.5 2.5 2.4 16.91 83.00
L19-436D Lupita Extension 194.7 198.5 3.8 3.6 4.69 79.45
L19-438D Lupita Extension 179.9 181.9 2.0 2.0 4.08 57.76
L19-439D Lupita Extension 175.4 177.4 1.9 1.9 2.57 31.44
L19-440D Lupita Extension 189.3 192.7 3.4 3.2 5.61 66.56
L19-441D Lupita Extension 132.5 136.2 3.7 3.6 7.18 54.38
L19-443D Lupita Extension 164.0 165.4 1.3 1.3 2.88 23.00
L19-444D Lupita Extension 167.7 171.3 3.6 3.6 3.58 46.69
L19-445D Lupita Extension 120.5 122.4 1.8 1.8 24.24 179.43
L19-446D Lupita Extension 180.9 184.1 3.2 3.0 6.45 60.70
L19-447D Lupita Extension 123.2 126.0 2.8 2.8 4.00 44.00
L19-448D Lupita Extension 154.3 157.8 3.5 3.4 10.47 63.60
L19-450D Lupita Extension 125.3 127.3 2.0 1.9 2.96 23.50
L19-451D Lupita Extension 159.3 163.8 4.5 4.4 8.86 66.69
L19-452D Lupita Extension 155.8 157.7 1.8 1.7 2.96 30.81
L19-454D Lupita Extension 159.7 162.3 2.6 2.6 9.30 45.92
L19-455D Lupita Extension 171.2 173.6 2.4 2.1 2.74 46.67
L19-456D Lupita Extension 156.2 159.4 3.2 3.2 5.85 39.69
L19-459D Lupita Extension 196.3 201.6 5.3 3.9 3.65 22.81
L19-429D Neo 281.6 285.2 3.6 3.1 13.65 80.01
  Including 283.6 285.2 1.6 1.4 28.74 173.25

 

 

Julie-Anaïs Debreil, Ph.D., P.Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43 -101. Mercedes assay results are from core samples sent to ALS Chemex, an accredited mineral analysis laboratory in Lima (Peru) or Vancouver (Canada), for preparation and analysis utilizing both fire assay and ICP methods. For a complete description of Mercedes’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Mercedes Mine dated April 18, 2018 (effective date December 31, 2017), entitled “Technical Report on the Mercedes Gold-Silver Mine, Sonora State, Mexico.”

 

Premier Gold Mines Limited is a gold-producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) where permitting and development initiatives are ongoing and McCoy-Cove in Nevada.

 

Table 2 – Collar coordinates

 

UTM Project Hole ID North
m
East
m
Elevation
m
Azimuth Dip
NAD 27 – Zone 12 Mercedes L19-426D 551412 3360079 1251 300 -86
Mercedes L19-432D 551626 3360094 1305 117 -67
Mercedes L19-433D 551648 3360050 1306 119 -72
Mercedes L19-434D 551626 3360094 1305 129 -80
Mercedes L19-435D 551586 3360125 1293 185 -82
Mercedes L19-436D 551626 3360095 1305 129 -73
Mercedes L19-438D 551588 3360125 1293 166 -71
Mercedes L19-439D 551647 3360048 1306 151 -74
Mercedes L19-440D 551626 3360094 1304 159 -66
Mercedes L19-441D 551526 3360045 1278 156 -50
Mercedes L19-443D 551507 3360129 1262 125 -66
Mercedes L19-444D 551574 3360069 1296 137 -62
Mercedes L19-445D 551525 3360045 1278 165 -60
Mercedes L19-446D 551574 3360069 1296 140 -53
Mercedes L19-447D 551524 3360045 1278 195 -57
Mercedes L19-448D 551507 3360128 1261 140 -56
Mercedes L19-450D 551524 3360044 1278 195 -45
Mercedes L19-451D 551572 3360069 1296 158 -63
Mercedes L19-452D 551506 3360127 1261 150 -65
Mercedes L19-454D 551572 3360069 1295 170 -72
Mercedes L19-455D 551416 3360080 1251 145 -73
Mercedes L19-456D 551571 3360068 1296 175 -58
Mercedes L19-459D 551415 3360080 1251 162 -80
Mercedes L19-429D 551090 3360241 1197 37 -81

 

Posted October 2, 2019

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