PREMIER EXPANDS HIGH-GRADE AT SAN MARTIN AND LUPITA EXTENSION
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Includes 2.9 m grading 14.02 g/t Au & 136.00 g/t Ag
Thunder Bay, August 13, 2019 - Premier Gold Mines Limited (TSX: PG)(US: PIRGF)
(“Premier”, “the Company”) is pleased to announce an update from its
ongoing drilling program at the Company’s 100%-owned Mercedes Mine, located in the State of Sonora, Mexico.
This drilling has confirmed two high-grade zones; at Lupita Extension
and at the newly discovered San Martin target area. Highlights of this
program include: https://www.premiergoldmines.com/san-martin--lupita-extension Premier Gold Mines (TSX: PG) - Increasing Production, Strategy, M&A, Gold Price and Share Price.
Published on 5 Jul 2019
Interview with Ewan Downie, President and CEO of Premier Gold Mines (TSX:PG)
This team are capable of making deals, partnering with big companies and
getting access to non-dilutory cash. Despite giving guidance to the
market about depleting production at South Arturo mine, their share
price has been punished. They need to focus on delivering +100,000oz.
Lots of Exploration assets at different stages.
Where did it start.
Company page: https://www.premiergoldmines.com https://www.youtube.com/watch?v=PGDCguhISDs
Three Development Programs Expected to Significantly Increase Future Production
Thunder Bay, June 25, 2019 -
PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to provide an update of ongoing development initiatives at the Company’s South Arturo and Cove properties in Nevada.
Construction of the El Nino underground and Phase 1 open pit mines are progressing, and the Company’s advanced-exploration program has commenced at the 100%-owned Cove Property.
El Nino decline construction is proceeding ahead of schedule at South Arturo
Phase 1 open pit construction is proceeding on schedule at South Arturo
Advanced-exploration program has been initiated at Cove with construction of main power line underway in advance of portal and underground development
“The programs at South Arturo and Cove are aimed at materially increasing the Company’s future production profile”, stated Ewan Downie, President & CEO of Premier.
“Nevada-based exploration will be a primary focus for
the remainder of 2019 as well.”
South Arturo Property (40% PG)
The Company’s South Arturo Property is operated by Barrick Gold (60%).
Construction of the El Nino underground operation is proceeding ahead
of schedule and some ore has now been intersected in the decline.
Ramp connection is expected in the next two weeks and development of
production level access is anticipated to start July 1st with ore
development commencing during the third quarter followed by mining.
Phase 1 open pit construction is proceeding on schedule with more than
5.7 million tons moved year to-date.
Stripping is expected to ramp up in the second half of the year with
up to 16 trucks operating on the property. The main ore zone is
expected to be accessed in the second half of 2020.
Stockpiling of potential heap leach material continues at Phase 1 and
ongoing work suggests some upside in terms of recoveries.
Processing options, which include either constructing a facility on
site or utilizing a facility operated by the Nevada Gold Joint Venture,
are being assessed.
Exploration drilling at the El Niño, the Phase 3 pit project, and at
East Dee will accelerate in the second half of the year with the goal
of increasing reserves and resources.
Cove Property (100% PG)
At the Company’s Cove Property, the first phase of the advanced-
exploration program is now underway.
This work includes a hydrology study with pump test wells and the
construction of a power line into the proposed portal site.
Construction of the portal and proposed underground ramp is scheduled
to commence in Q3-2019.
The Cove deposit represents one of the highest-grade undeveloped gold
deposits in the USA.
The advanced-exploration program will be followed by underground
delineation drilling in advance of completing additional economic work
on the property, a full Feasibility Study, and potentially a bulk
sampling program in advance of full mine development.
A Preliminary Economic Assessment (PEA) was completed for the Cove
(Carve-Out) Project (read May 15, 2018 press release), setting
Premier on a path toward its advanced-exploration program.
Highlights of the PEA include:
Indicated mineral resources of 1,045,000 tons at 0.327 oz/t Au &
0.861 oz/t Ag (948,000 tonnes at
11.22 g/t Au & 29.53 g/t Ag) for
342,000 ounces of gold & 900,000 ounces of silver and
resources of 4,037,000 tons at 0.327 oz/t Au & 0.609 oz/t
Ag (3,662,000 tonnes at
11.24 g/t Au & 20.89 g/t Ag) for 1,322,000 ounces of gold &
2,457,000 ounces of silver.
Based on assumptions made in the PEA, an 8-year mining operation
recovering some 740,000 ounces of gold has the potential to host robust
economics (after-tax NPV5 of $142.0 million, and an after-tax internal rate of return of 48%) with low pre-production capital costs.
Encouraged by these positive results, additional permitting is being
completed to gain approvals for future mining at Cove.
McCoy-Cove JV Exploration Update
On April 29, 2019, Premier reported drill results from hole PB19-03R, a
reverse circulation (RC) hole drilled into the Antenna Target on the
McCoy-Cove Property. Results from this first RC hole at Antenna were
deemed significant and warranted twinning of the hole with core for
further validation and to explore through both the entire Favret and
the Dixie Valley lithologies. Given the nature of RC versus core
drilling and the variability inherent in structural-controlled
deposits, some differences were anticipated between the original and
The core hole twin, PB19-09D, intersected a mineralized zone that was
significantly narrower than the RC hole.
The joint venture team is now assessing the results and determining how
best to continue evaluating the Antenna target.
In January 2018, Premier entered into an agreement with several wholly-
owned subsidiaries of Barrick Gold Corporation whereby Barrick would
hold an option to earn a 60% interest in the exploration portion of
the McCoy-Cove Project (the “Joint Venture Property”) by
spending US$22.5 million in exploration prior to June 30, 2022.
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. https://www.premiergoldmines.com/nevada-development-update- Gold $87,000 per ounce at Least -
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Published on Jul 9, 2019 https://www.youtube.com/watch?v=VMCu9GWpgzg
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