Looking Forward-Near Term
posted on
Jan 09, 2013 10:01AM
Red Lake and Geraldton are Canada's PREMIER addresses for gold
Premier’s Exploration Catalysts:
1. Cove Project Nevada, USA.
2. Red Lake JV Ontario,
3. Trans-Canada Project Ontario
All projectscontinue to offer extraordinary exploration promise.
Premier low discovery/acquisition cost: ~ $23/oz/au.
$30 million + exploration budget for 2013;
$15m Trans-Canada: Hardrock& Brookbank;
$10m Red Lake JV;
$10m Cove, Nevada; expect 3-4 drills workingthe project.
·Cove Project, Nevada
Drill results just released: strong grades and widths materially adding to the Cove project.
·Red Lake JV Tunnel/Tram
Drill results expected soon.
The 4.5 K underground high speed tram operates at the 5400’ level from Goldcorp’s existing Campbell Red Lake mill complex to Bruce Channel-Cochenour mine, and will run in part (1.8k)through Premier’s JV Rahill-Bonanza Project.
Drill platform cut-outs are positioned approx. every 121.9m (400’) along the tram complex, for deep flat hole exploration.
New mineralized zones have been identified.
The underground drilling program is underway at the highly prospective Premier JV property.
Added Gold ounces would provide significant drivers to share value.
·Trans-Canada Project
Exceeding Expectations
NI 43 101 resource estimate highlights include:
Measured and indicated resources of 4.12 million ounces of gold; Inferred resources of 3.65 million ounces of gold;
2012 exploration highlights include:
Surface drilling discovered new gold zones.
Many deposits are open for expansion and will be the subject of continuing drilling.
2013 exploration is expected to include underground drilling.
·GOLD
Recently gold closed at the highs of the day after putting in a double bottom, on big volume.
This is bullish and possibly the bottom is in for 2013.