Results include 13.30 g/t Au across
15.8m
THUNDER BAY, ON, July 26, 2017 /CNW/ - Premier Gold Mines
Limited (TSX-PG) is pleased to announce recent drill results
and an update on the pre-development program at the company's
wholly-owned McCoy-Cove property. The program is designed to
in-fill those resources of the Helen and CSD Gap deposits that will
support a Preliminary Economic Assessment ("PEA") and the planning
of an underground development program that will include test mining
and underground drilling. In addition, as part of the 2017
program, other exploration targets on the property will be drill
tested.
Highlights to-date from the 2017 program
includes:
- 12.50 g/t Au across 3.3 m in hole PG17-21
- 13.30 g/t Au across 15.8 m including 19.74 g/t Au across 5.5
m in hole PG17-24
- 12.12 g/t Au across 4.9 m and 19.29 g/t Au across 8.5 m in
hole PG17-25
- Multiple high-grade intercepts in PG17-26, including 14.87
g/t Au across 12.5 m, 12.63 g/t Au across 7.7 m, and 9.02 g/t Au
across 17.7 m
"The drill results are demonstrating good continuity and grades
within the resource area," commented Chad
Peters, Nevada Exploration Manager for Premier in the
company's C-Suite Blog
(https://www.premiergoldmines.com/news/c-suite-blog/all). "We
believe McCoy-Cove represents one of the highest grade recent
discoveries in Nevada."
Table 1: Highlights of results from the 2017 McCoy-Cove
drill program
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Hole
ID
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Coordinates(1)
(m)
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Azimuth/Dip
(degrees)
|
Comment
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From
(m)
|
To
(m)
|
Intercept
(m) (2)
|
Au
(g/t)
|
Ag (g/t)
|
From
(ft)
|
To
(ft)
|
Intercept
(ft) (2)
|
Au
(oz/t)
|
Ag
(oz/t)
|
PG17-21
|
4465993N
/481693E
|
190/-88
|
Upper
Helen
|
373
|
376
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3.7
|
12.50
|
3.70
|
10.3
|
21.6
|
12.0
|
0.36
|
0.11
|
PG17-22
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4465566N
/481912E
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066/-54
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CSD Gap
|
Abandoned
|
PG17-23
|
4465699N
/481880E
|
097/-53
|
CSD Gap
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Abandoned
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PG17-24
|
4465699N
/481880E
|
104/-54
|
CSD Gap
|
495.9
|
498.3
|
2.4
|
5.31
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1.05
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1627.0
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1635.0
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8.0
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0.15
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0.03
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556.4
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558.4
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2.0
|
13.62
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100.00
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1825.0
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1832.0
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7.0
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0.40
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2.92
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660.8
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676.7
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15.8
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13.30
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3.74
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2168.0
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2220.0
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52.0
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0.39
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0.11
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Including
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662.9
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668.4
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5.5
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19.74
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5.10
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2175.0
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2193.0
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18.0
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0.58
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0.15
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PG17-25
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4465432N
/481977E
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052/-47
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CSD
Gap
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639.8
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651.4
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11.6
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7.37
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4.27
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2099.0
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2137.0
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38.0
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0.21
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0.12
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Including
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646.5
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651.4
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4.9
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12.12
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6.21
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2121.0
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2137.0
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16.0
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0.35
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0.18
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662.3
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670.9
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8.5
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19.29
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5.06
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2173.0
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2201.0
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28.0
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0.56
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0.15
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PG17-26
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4465565N
/481912E
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046/-58
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CSD Gap
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523.6
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527.0
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3.4
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6.17
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2.42
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1718.0
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1729.0
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11.0
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0.18
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0.07
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537.0
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542.0
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5.0
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9.17
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4.00
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1761.7
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1778.2
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16.5
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0.27
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0.12
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554.3
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566.8
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12.5
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14.87
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8.78
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1818.5
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1859.5
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41.0
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0.43
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0.26
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603.1
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604.7
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1.6
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10.10
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31.50
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1978.8
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1984.0
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5.2
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0.29
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0.92
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606.5
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614.2
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7.7
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12.63
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16.70
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1989.8
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2015.0
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25.2
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0.37
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0.49
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633.4
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651.1
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17.7
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9.02
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2.81
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2078.0
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2136.0
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58.0
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0.26
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0.08
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655.2
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659.0
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3.8
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11.14
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3.00
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2149.5
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2162.0
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12.5
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0.32
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0.09
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735.5
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739.7
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4.2
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9.78
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28.20
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2413.2
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2427.0
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13.8
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0.29
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0.82
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Notes: (1) UTM NAD83,
Zone 11 (2) True widths are estimated to be
60 to 90% of core length
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Two drill holes were abandoned due to excessive deviation from
the targeted intercept.
The ongoing development activities on the property include
finalizing the construction of a 2400-metre pipeline and a 16-acre
rapid infiltration basin (RIB) prior to a hydrologic flow test,
which will occur during the third quarter. Results from the flow
test will along with an updated resource, metallurgical and
engineering data will be included in a PEA that is expected to be
completed by year end. As part of the underground permitting
process, Premier is working closely with community stakeholders as
well as State and Federal agencies.
All abbreviations included in this press release are defined and
available by following this link (click here).
Stephen McGibbon, P. Geo., 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. Higher grade samples are subject to a gravimetric
finish.
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. Premier remains focused on
creating a low-cost, mid-tier gold producer through its two
producing gold mines; South Arturo and Mercedes, and through future
mine development opportunities at McCoy-Cove in Nevada and Hardrock in Ontario (Greenstone Gold JV) where permitting
and development initiatives are ongoing.
The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ
materially from the Company's expectations and projections.
SOURCE Premier Gold Mines Limited