i-80 Gold Corp. (IAU)

[NYBob]

Premier Gold Confirms New High-Grade Extensions at Mercedes
Drill results include 21.95 m at 36.65 g/t Au and 171.30 g/t Ag
August 2nd, 2018
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https://www.premiergoldmines.com/news/press-releases/premier-gold-confirms-new-high-grade-extensions-at-mercedes


PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is
pleased to provide an exploration update, including the confirmation of
high grade extensions, at the Company’s 100%-owned Mercedes Mine,
located in the State of Sonora, Mexico.
The ongoing 40,000 metre surface and underground drill programs include
definition and expansion of the main gold bearing horizons and testing
new zones on the property.

Underground drilling at the Rey de Oro deposit, one of several zones
being brought into production this year, has confirmed the extension of
a high-grade vein system that exhibits some of the best widths drilled
to date.Recent highlights include:

UG-R018-002 with 6.21 g/t Au and 101.83 g/t Ag across 16.55 metres
UG-R018-006 with 36.65 g/t Au and 171.30 g/t Ag across 21.95 metres
UG-R018-007 with 8.10 g/t Au and 121.32 g/t Ag across 20.50 metres
UG-R018-008 with 8.33 g/t Au and 67.66 g/t Ag across 9.20 metres
“These high grade results and good widths are similar to our success at
the Aida vein zone intersected earlier this year and confirms our
belief that substantial potential exists to expand the mine life at
Mercedes” stated Charlie Ronkos, Executive Vice-President of
Premier.”These initial intercepts suggest a zone with grades well in
excess of the current reserve grade at Mercedes”.

Rey de Oro

Additional drills are being mobilized to Rey de Oro in order to continue
step-out and delineation drilling of this vein extension.These results
include some of the widest vein intercepts on the property and are
located proximal to recently constructed underground mine workings (see
Figure 1 below).

Figure 1 – Longitudinal Section - Rey de Oro vein target

https://www.premiergoldmines.com/news/press-releases/premier-gold-confirms-new-high-grade-extensions-at-mercedes


The 2018 drill program will also test for extensions of the known vein
systems, and for new target areas on the property.The primary target
areas are as follows (see Figure 2):

Drilling at the Axis target located to the west of the main Mercedes vein, has discovered a broad zone of low-grade mineralization with assays of up to 0.64 g/t Au and 0.79 g/t Ag across 31.5 metres;
Once the drift has been sufficiently established in H2 2018, drilling is expected to begin on the Marianas vein, located along the main Mercedes vein trend; and
Continued definition and step-out drilling at Diluvio and Lupita that were recently brought into production.
Figure 2 Mercedes Regional Geology and target areas



Production at Mercedes is expected to be weighted to the second half of the year owing to changes in the mining methods, the required additional drilling at the new Diluvio deposit and delays in permitting associated with the ventilation raise at Rey de Oro.Stope mining has commenced at Diluvio and the ramp up in production from Rey de Oro continues.As a result of these initiatives, monthly production in July has been the best so far in 2018.

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.

Stephen McGibbon, P. Geo., Executive Vice-President, Corporate and 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.Mercedes assay results are from core samples sent to ALS Chemex, an accredited mineral analysis laboratory in Lima, Peru or Vancouver, British Columbia, for preparation and analysis utilizing both fire assay and ICP methods. For a complete description of Mercedes’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Mercedes Mine dated April 18, 2018 (effective date December 31, 2017), entitled “Technical Report on the Mercedes Gold-Silver Mine, Sonora State, Mexico.”

For further information, please contact:

Ewan Downie,
President & CEO
Phone: [phone]
e-mail: [e-mail]
Web Site:
http://www.premiergoldmines.com

https://www.premiergoldmines.com/news/press-releases/premier-gold-confirms-new-high-grade-extensions-at-mercedes

God Bless