Premier Gold..
posted on
Apr 15, 2009 08:24AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
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THUNDER BAY, ON, April 15 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) is
pleased to announce that ongoing drilling at the Hardrock Project in
Geraldton, Northwestern Ontario continues to return high-grade gold
mineralization in the Tenacity Zone, as well as high grade narrow vein
mineralization in a deeper target (KL Zone). This drilling suggests that the
Tenacity Zone may improve with depth as confirmed by an intersection of 16.86
grams per tonne gold (g/t Au) across 5.5 metres (m) in the furthest
down-plunge section drilled to date. Additionally, drilling has confirmed high
grade gold in a deeper target beneath Tenacity with intersections of 40.1g/t
Au across 1.0m and 17.45g/t Au across 1.9m. Highlights of recent Tenacity
drilling include:
<<
- Drilling suggests the potential to develop both open pit and
underground resources with apparent improvement in grade and
continuity down-plunge.
- Exploration drilling (three holes) confirmed high grade gold
mineralization within a narrow vein target with intersections in
excess of 17.14 g/t Au ((greater than) 0.50 oz/ton).
>>
Follow-up drilling at Tenacity, as well as the testing of other target
areas, is on-going.
"Our success in drilling numerous target sites at Hardrock speaks volumes
of the quality of this Project", stated Ewan Downie, President of Premier.
"Gold mineralization found over appreciable widths in multiple horizons
support our view that a sizeable gold resource will be delineated on the
Project".
The Hardrock Project is operated under a joint venture with Roxmark Mines
Limited (TSX-V:RMK) (Premier earning a 70% interest). The Hardrock Project is
host to several past-producing mines which collectively produced more than 2.0
Million ounces of gold from the same shallow deposits within 2000 feet (600
metres) of surface from 1938-1968. The mined zones remained open at depth at
the time mining ceased and developed historical resources were left in place
within the existing mine workings (a qualified person has not done sufficient
work to verify the historical resource, the company is not treating the
historical resource as a current resource and the historical resource should
not be relied upon).
http://www.newswire.ca/en/releases/archive/April2009/15/c9756.html