Results include 29.52 g/t Au across 5.9
m
Shares Issued: 201,530,687
THUNDER BAY, ON, April 12,
2017 /CNW/ - PREMIER GOLD MINES LIMITED ("Premier" or "The
Company") (TSX:PG) is pleased to provide recent drill results
from the Company's 100%-owned McCoy-Cove Property, located 32 miles
south of Battle Mountain in
Lander County, Nevada. The
ongoing drill program continues to expand and delineate the primary
Helen and CSD Gap Zones as well as test highly prospective targets
near and along the Cove trend.
Highlights of new drill results include:
- 9.07 g/t Au across 1.7 m and 9.31 g/t Au across 5.5 m in
hole PG17-04
- 10.49 g/t Au across 2.7 m in hole PG17-06
- 10.34 g/t Au across 7.2 m and 29.52 g/t Au across 5.9 m in
hole PG17-07
- 19.37 g/t Au across 2.4 m and 16.75 g/t Au across 3.4 m in
hole PG17-10
All abbreviations used in this press release are available by
following this link (click here).
Premier announced on March 21,
2017 a resource estimate for McCoy-Cove, completed by RPA
Inc. of Toronto, Ontario with
total Indicated Mineral Resources of 614,000 tonnes grading
11.57 g/t Au (228,000 ounces of gold) and Inferred Resources of
3,378,000 tonnes grading 12.17 g/t Au (1,322,000 ounces of
gold) contained within Helen, CSD Gap, CSD and 2201 Zones.
This drill program is part of the Company's 2017 US$13.4M exploration and development budget at
McCoy-Cove that also includes hydrological and metallurgical test
work as part of a Preliminary Economic Assessment (PEA) that is
expected to be completed in H2-2017. The positive drill
results from this program are expected to warrant the initiation of
an underground drill program that may begin in Q1 2018 once access
has been established.
"Drilling continues to improve our understanding of the
McCoy-Cove deposit and demonstrates the potential to expand the
resource in the vicinity of the main resource areas and in the
other new target horizons on the property," commented Nevada
Exploration Manager Chad Peters on
the Company's C-Suite Blog
(http://www.premiergoldmines.com/news/c-suite-blog). "Our
work at McCoy-Cove has resulted in the delineation of a new
high-grade deposit in Nevada."
Table 1 – 2017 Assay results from drilling at
McCoy-Cove
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Hole
ID
|
Coordinates(1)
(m)
|
Azimuth
/Dip
(Degrees)
|
From
(m)
|
To
(m)
|
Core
Length(2)
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Core
Length(2)
(ft)
|
Au
(oz/t)
|
Ag
(oz/t)
|
Comment
|
PG17-01
|
4465432N/481977E
|
48/-48
|
Abandoned
|
Pre-collar
deviation
|
PG17-02
|
481693E/4465993N
|
254/-83
|
370.2
|
371.2
|
1.1
|
6.47
|
1.90
|
3.5
|
0.19
|
0.06
|
Helen
|
PG17-03
|
481805E/4465778N
|
351/-57
|
519.1
|
520.6
|
1.5
|
9.41
|
0.31
|
5.0
|
0.27
|
0.01
|
Helen
|
PG17-04
|
481987E/4465390N
|
46/-59
|
598.0
|
599.7
|
1.7
|
9.07
|
2.89
|
5.5
|
0.26
|
0.08
|
Helen
|
642.2
|
647.7
|
5.5
|
9.31
|
12.11
|
18.0
|
0.27
|
0.35
|
|
PG17-05
|
481687E/4465988N
|
201/-86
|
No Significant
Values
|
Helen
|
PG17-06
|
481696E/4465997N
|
287/-80
|
352.5
|
356.8
|
4.3
|
5.69
|
1.31
|
14.0
|
0.17
|
0.04
|
|
574.9
|
579.7
|
4.9
|
6.44
|
1.67
|
16.0
|
0.19
|
0.03
|
|
591.3
|
597.4
|
6.1
|
6.21
|
1.79
|
20.0
|
0.18
|
0.05
|
|
594.7
|
597.4
|
2.7
|
10.49
|
3.30
|
9.0
|
0.31
|
0.10
|
including
|
PG17-07
|
481603E/4465760N
|
30/-63
|
434.0
|
436.8
|
2.8
|
9.06
|
4.65
|
9.2
|
0.26
|
0.14
|
Helen
|
595.1
|
602.3
|
7.2
|
10.34
|
2.90
|
23.5
|
0.38
|
0.03
|
|
605.6
|
607.5
|
1.8
|
11.25
|
4.22
|
6.0
|
0.33
|
0.12
|
|
629.3
|
635.2
|
5.9
|
29.52
|
8.48
|
19.5
|
0.86
|
0.25
|
|
629.7
|
631.9
|
2.1
|
61.31
|
17.66
|
7.0
|
1.79
|
0.52
|
including
|
696.2
|
702.1
|
5.9
|
7.81
|
1.57
|
19.5
|
0.23
|
0.05
|
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PG17-08
|
481977E/4465431N
|
48/-56
|
424.1
|
426.4
|
2.3
|
8.38
|
0.98
|
7.5
|
0.24
|
0.03
|
|
467.3
|
476.6
|
9.3
|
5.99
|
5.80
|
30.5
|
0.17
|
0.17
|
|
470.0
|
472.7
|
2.7
|
7.92
|
6.17
|
9.0
|
0.23
|
0.18
|
including
|
PG17-09
|
481604E/4465761N
|
38/-62
|
Assays
Pending
|
Helen
|
PG17-10
|
481912E/4465566N
|
53/-51
|
483.7
|
486.6
|
3.0
|
17.73
|
104.86
|
9.7
|
0.52
|
3.06
|
Gap
|
520.0
|
521.5
|
1.5
|
6.75
|
105.36
|
5.0
|
0.20
|
3.07
|
|
557.8
|
560.2
|
2.4
|
19.37
|
11.28
|
8.0
|
0.56
|
0.33
|
|
591.5
|
594.8
|
3.4
|
16.75
|
3.55
|
11.0
|
0.49
|
0.10
|
|
651.1
|
655.6
|
4.6
|
6.92
|
4.99
|
15.0
|
0.20
|
0.15
|
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PG17-11
|
481988E/4465390N
|
57/-46
|
550.5
|
557.2
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6.7
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6.33
|
6.60
|
22.0
|
0.18
|
0.19
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665.7
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671.5
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5.8
|
5.67
|
1.67
|
18.9
|
0.17
|
0.05
|
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678.3
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681.2
|
2.9
|
8.69
|
1.53
|
9.5
|
0.25
|
0.04
|
|
PG17-12
|
482455E/4466059N
|
203/-46
|
Abandoned
|
Pre-collar
deviation
|
PG17-13
|
480621E/4466019N
|
59/-52
|
399.3
|
599.5
|
200.3
|
0.65
|
0.31
|
657.0
|
0.02
|
0.01
|
Windy
Point
|
459.0
|
460.9
|
1.8
|
7.11
|
0.25
|
6.0
|
0.21
|
0.01
|
including
|
542.1
|
599.5
|
57.5
|
1.04
|
0.29
|
188.6
|
0.03
|
0.01
|
and
|
PG17-14
|
480695E/4466010N
|
38/-77
|
370.3
|
404.3
|
34.0
|
0.25
|
0.19
|
111.5
|
0.01
|
0.01
|
Windy
Point
|
570.4
|
636.9
|
66.5
|
0.45
|
0.16
|
218.1
|
0.01
|
0.00
|
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Notes:
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1.
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True widths are
estimated at 75-90% of core interval
|
Stephen McGibbon, P. Geo.,
Executive Vice President, Corporate & 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. Drill samples were sent to ALS
Laboratories in Reno, Nevada for
analysis with the analytical facility utilizing 30 gram fire assay
with an AA finish for RC samples and 30 gram fire assay with AA
finish and ICP-MS 30 element scan from 4-acid digestion for core
samples. Over-limit samples receive an automatic gravimetric
finish. Tudorel Ciuculescu, P.Geo, is the independent Qualified
Persons who have reviewed and approved the resources contained in
this press release for the purposes of National Instrument
43-101.
Premier Gold Mines Limited is a respected production,
exploration and development company with a high-quality pipeline of
gold projects focused in proven, safe, and accessible mining
jurisdictions in Canada,
the United States, and
Mexico.
Forward Looking Information
This Press Release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, statements about the estimation of mineral
resources and mineral reserves, strategic plans, including future
operations, future work programs, capital expenditures, discovery
and production of minerals, price of gold and currency exchange
rates, timing of geological reports and corporate and technical
objectives. Forward-looking information is necessarily based upon a
number of assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information, including the risks inherent to the
mining industry, adverse economic and market developments and the
risks identified in Premier's annual information form under the
heading "Risk Factors". There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. Premier
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE Premier Gold Mines Limited