Premier Gold Mines Limited (TSX-PG) is pleased to provide an update summarizing 13 new drill hole results from the Company’s 100%-owned Hasaga Project located at Red Lake, Ontario. The 2018 program is primarily focused on infill and expansion of mineralization within the C-Zone and D-Zone target areas. Table 1 summarizes the highlights of these results.
The Hasaga Property is located in the Red Lake Greenstone Belt (RLGB), an Archean-aged greenstone belt within the Uchi Sub-province of the Superior Structural Province. The Red Lake district has produced nearly 29 million ounces of gold from multiple mineralization settings. Gold mineralization at the Hasaga Property occurs as quartz-veinlet stockworks veinlet arrays hosted predominantly within the Dome Stock (a granodioritic intrusion) and the nearby Hasaga Porphyry, a quartz-porphyry dike that occurs within a major shear-zone in the Balmer Assemblage. The C-Zone occurs immediately down-plunge of the past producing Hasaga and Howey gold mines that collectively produced more than 600,000 ounces of gold between 1930 and 1952.
Figure 1 is a long section view displaying the pierce points of intercepts drilled in the 2017 – 2018 programs including details of select holes released today.
C-Zone Target Area
The drilling undertaken at the C-Zone target area includes a total of 13 holes and 9,816 metres of drilling in 2018. These results are being integrated into updated models expected to support a mineral resource estimate for the C-Zone in early 2019.
Seven preliminary conclusions drawn from ongoing work at the C-Zone include:
“We are very pleased with our success to date at Hasaga and look forward to the next phase of exploration,” commented Stephen McGibbon, Executive Vice-President of Premier Gold Mines Ltd. “We are modelling the C-Zone mineralization geometry with very attractive widths, suggesting that potential future production may be amenable to highly productive and low cost underground mining methods.”
D-Zone Target Area
So far in 2018, a total of 11 holes and 8,088 metres of drilling has been completed in the Upper D-Zone target area. No additional drilling has been conducted in the Lower D-Zone target in 2018, however, future drilling will prioritize this area. Drill results in the Upper D-Zone have been mixed in 2018. Intercepts have been widespread, but often variable in grade and width. Additional drilling is required to resolve the greater complexity of mineralization versus the C-Zone. Currently, the Company is completing an outcrop stripping program designed to better understand controls on mineralization that may be impacting the D-Zone target area.
Overall, the US$2.8 million 2018 program has planned 20,000 metres of drilling. To date, some 19,500 metres of drilling has been completed and only a handful of pending results remain. The Company is contemplating an expansion of the program to continue drilling in key areas critical to the C-Zone model interpretation and to test new targets along the Hasaga –Buffalo corridor.
Table 1: Summary of recent exploration results from the 2018 Deep Hasaga drill program
|HMP174||441257/5651001||310 / -73||390||10900||D Zone||963.0||967.0||4.0||3.0||2.84|
|HMP175||440870/5654598||147 / -72||390||11000||D Zone||691.0||694.0||3.0||2.3||3.62|
|HMP176||441452/5651093||330 / -77||386||12100||C Zone Potential||1040.0||1041.0||1.0||0.5||6.02|
|HMP176W1||441452/5651093||330 / -77||386||12100||C Zone Potential||983.0||992.0||9.0||4.7||2.37|
|C Zone Potential||1043.0||1047.0||4.0||2.1||2.87|
|HMP176W2||441452/5651093||330 / -77||386||12100||C Zone||970.0||1006.0||36.0||19.8||2.66|
|HMP176W3||441452/5651093||330 / -77||386||12075||C Zone||945.0||984.0||39.0||23.4||5.69|
|C Potential; VG||1010.0||1012.0||2.0||1.2||15.89|
|HMP177||440871/5651597||147 / -66||385||11000||D Zone||560.0||564.0||4.0||3.0||3.10|
|HMP178||440871/5651597||147 /-60||384||11000||D Zone||489.0||501.0||12.0||9.1||2.77|
|HMP179||440820/5651587||148 /-61||383||10850||D Zone||626.0||650.0||24.0||18.2||0.96|
|HMP180||440694/5651581||155 / -60||386||10750||D Zone||712.0||716.0||4.0||3.0||2.02|
|HMP181||440694/5651581||155 / -54||386||10750||D Zone||598.0||603.0||5.0||3.8||0.99|
|HMP182||440949/5651629||146 / -68||384||11050||D Zone||511.5||514.5||3.0||2.3||5.36|
|HMP183||440951/5651627||138 /-55||386||11100||D Zone||430.0||558.0||128.0||Porphyry||Pending|
|(1) UTM NAD83, Zone 15|
Abbreviations used in this press release are available by following this link (click here).
Stephen McGibbon, 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. Assay results are from core samples sent to Activation Labs, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods. For a complete description of Premier’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Hasaga Project dated February 24, 2017 (effective date December 30, 2016), entitled “National Instrument 43-101
Technical Report: Hasaga Project, Red Lake Mining District, Ontario, Canada” located on Premier’s website and at www.sedar.com.
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’s team is focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; and two advanced multi-million ounce development projects where permitting and pre-construction initiatives are in progress.
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