Premier Gold Mines Limited (TSX: PG) (OTCPK: PIRGF) is pleased to announce positive drill results from expansion drilling at the El Nino underground mine on the Company’s 40%-owned South Arturo Property, located in the Carlin Trend of Nevada. The South Arturo Mine is a joint venture between Premier and Nevada Gold Mines LLC. These step-out drill results are part of a campaign of 25 holes (3,500 m) designed to substantially increase the extent of known mineralization at depth.
Highlight intercepts from the ongoing drill program include:
Additional results from the 2020 drilling campaign are pending.
“El Nino has returned excellent grade and width intercepts in 2020 that bode well for the future of the mine”, stated Peter Van Alphen, Chief Operating Officer of Premier. “We are hopeful to see an increase in year-end reserves and resources based on these successes that will provide for an expanded mine life. The deposit remains open at depth and along strike”.
The El Nino Mine is located on the northern end of the prolific Carlin Trend. As at June 30, 2020, production at El Nino for the year had exceeded 550 tonnes per day at 8.90 g/t Au (100% basis) resulting in 11,495 ounces of production attributable to Premier and supporting all-in sustaining costs (AISC) of $1,031 per ounce sold. Since declaring commercial production in October 2019, the mine has maintained strong performance.
El Nino is a Carlin-type deposit hosted in a silica-sulphide breccia within the Rodeo Creek formation at the contact with the Bootstrap limestone. Exploration drilling in 2020 is testing the down-plunge extent of mineralization at intersections of favorable structures, where high-grade ore often resides. To-date, the results of this campaign (see Table 1 and Figure 1) indicate the ore body remains open to the east and along strike north and south.
The 2020 program at El Nino includes both in-fill and step-out drilling from underground drill stations proximal to existing mine areas and at depth. The irregularly shaped mineralization mapped from mining excavations suggests true widths are likely 60% to 80% of the lengths summarized in Table 1. The intercept summarized for hole SER20025 may be tracing sub-parallel to its host structure.
Additional drilling is currently underway at targets proximal to the proposed Phase 1 and Phase 3 pit projects and results are expected to be received in the fourth quarter. Following the 2020 campaign, a revised mineral resource estimate will be completed.
Table 1 – 2020 Drill Results from El Nino
Table 2 – Collar coordinates
|NAD83 ZONE 11||El Nino||SEC20003||4543557||549463||1480||213||-66|
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.
Stephen McGibbon, P. Geo., Executive Vice President, Corporate and Project Development, 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. The primary assay laboratories for the South Arturo Mine are ALS Chemex Labs and American Assay Labs (American Assay) in Reno, Nevada. For a complete description of sample preparation, analytical methods and QA/QC procedures, refer to the technical report dated March 26, 2018 (effective date December 31, 2017), entitled “Technical Report on the South Arturo Mine, Elko County, State of Nevada, USA” located on Premier’s website and at www.sedar.com.
Figure 1 – El Nino isometric view – Drilling from underground platforms (CNW Group/Premier Gold Mines Limited)
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We acknowledge the [financial] support of the Government of Canada.