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15 Gold properties & 1 Molybdenum resource - Beardmore & Geraldton, N/W Ontario.

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Message: PG & Rmk News-->> 23.36 g/t Au across 5.4m within 6.60 g/t Au across
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Roxmark's Neighbor

nwoboy
Jul 21, 2009 06:22PM

PG & Rmk News-->> 23.36 g/t Au across 5.4m within 6.60 g/t Au across

in response to
Roxmark's Neighbor
by
nwoboy
posted on Jul 22, 2009 03:55PM
Wed Jul 22, 2009
Premier Continues To Define High-Grade Gold At EP And SP Zone Targets
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23.36 g/t Au across 5.4m within 6.60 g/t Au across 32.6m


PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that drilling continues to define both open pit and underground style gold mineralization within multiple subzones at the Company's Hardrock Project in Northwestern Ontario. The current program, consisting of delineation and exploration drilling, will continue throughout 2009 and is expected to result in an NI 43-101 compliant resource estimate by year end.

Drilling at the EP Zone is currently defining the limits of mineralization within a high potential open pit zone. An update of results is expected in the near future. Drilling in the South Porphyry ("SP") Zone continues to demonstrate the potential of this area to host significant high-grade, underground style, gold mineralization within multiple lenses.

Highlights from recent drilling include:
  • SP Zone: 6.60 g/t Au across 32.6 metres including 23.36g/t Au across 5.4 metres within the SP Zone underground target
Premier holds a 70% interest in the Hardrock Project, which is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold within 600 metres of surface from 1938-1968. Early drilling in 2009 focused on open pit-style mineralization and is now targeting the huge potential to expand higher grade mineralization amenable to efficient underground mining methods.

SP Zone

Several highly prospective target areas, with the potential to host new underground mineral resources, have been identified. Initial drilling to test the potential of the SP Zone has returned multiple intersections of high-grade gold mineralization. Historic work, including mining, in the SP Zone has identified 3 lenses of mineralization that converge at the fold nose of the main porphyry rock unit at Hardrock. The SP Zone was partially mined in the upper levels of the mine with 264,354 tonnes (291,428 tons) of ore mined at an average grade of 8.37g/t Au (0.244 oz/t). Intermittent historic drilling that tested the unmined down-plunge extension of the SP Zone suggests the potential to outline mineralization over a plunge length of nearly 3.0 kilometres (8,500 feet).

Highlights from new drilling include 6.60g/t Au across 32.6m in hole MM014 which is located approximately 150 metres down-plunge from a previous intersection of 6.63 g/t Au across 28.1 m in hole MM05. SP Zone results correlate very well with previous surface and underground drilling results, all of which will be included in the Company's upcoming NI-43101 compliant resource that is expected by year-end.
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