i-80 Gold Corp. (IAU)

[NYBob]

Red Lake Haulage Drift crosses onto Rahill-Bonanza JV property - Drilling expands high grade gold including 60.01g/t Au across 2.6m -


THUNDER BAY, ON, March 26, 2012 /CNW/ -

PREMIER GOLD MINES LIMITED -
(TSX:PG) is pleased to announce that the Cochenour-Red Lake
Haulage Drift (Haulage Drift) that is being constructed to link
the Red Lake Gold Mines complex to the Cochenour (Bruce
Channel) complex has now crossed onto the Rahill-Bonanza Joint
Venture Project.

Additionally, surface drilling at the JV Project continues
to expand high-grade gold mineralization in
the Wilmar Mine target area.

The Rahill-Bonanza Project is located in the heart of the main
Red Lake "Mine Trend" and is being explored with joint venture
partner Red Lake Gold Mines Limited ("RLGM"), an affiliate of
Goldcorp Inc. (TSX:G, NYSE:GG).

The Rahill-Bonanza Project (PG:49% & G:51%) is strategically
located between the Red Lake Gold Mines complex to the east,
and the Cochenour (Bruce Channel) complex to the west.
Highlights include:

The Haulage Drift construction has crossed on the Rahill-Bonanza JV. The Haulage Drift will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake "Mine Trend". Exploration drilling is slated to commence in the second half of 2012.

Recent and previous drilling has successfully extended high-grade gold mineralization within the '2E Zone' structure, suggesting a distance of approximately 500 metres down-plunge of the past-producing 2E Zone mined at Wilmar. Highlight results within the 2E target to-date include:
68.87 grams per tonne gold (g/t Au) across 3.5 metres (m) or 2.01 oz/t across 11.5 feet, including 207.43 g/t across 1.15 m (6.06 oz/t across 3.8 feet) in hole PG10082.

46.15 g/t Au across 4.5 m (1.35 oz/t across 14.8 feet) in hole PG10090.

15.12 g/t Au across 2.0 m (0.44 oz/t across 6.6 feet), and 19.8 g/t Au across 1.15 m (0.58 oz/t across 3.8 feet) in hole PG11102.
Drilling has intersected high-grade gold within the 'Footwall Diorite Zone' several hundred metres below Wilmar with a new intercept assaying 60.01 g/t Au across 2.6 m (1.75 oz/ton across 8.5 feet).

Drilling down-plunge of the historic '6E Zone' has returned multiple gold intercepts including 89.95 g/t Au across 1.0 m (2.63 oz/ton across 3.3 feet).

Recent step-out drilling to the east of Wilmar workings has intersected favourable geology and sulphide mineralization. Assays are pending and wedge drilling is being completed.
The Rahill-Bonanza JV is one of Premier's core projects, representing the only portion of the main Red Lake "Mine Trend" not 100% owned by Goldcorp. The project is immediately west of the RLGM that is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of gold resources.

The Property covers approximately 4.5 kilometres of the main Red Lake "Mine Trend" between the world class RLGM complex to the east, and the Cochenour (Bruce Channel) complex to the west. The haulage drift is being constructed to connect the two operations and will provide a prime underground exploration platform to conduct a long-term exploration program to test this largely unexplored part of the camp.

"This represents a historic event for Premier Gold Mines"
stated Ewan Downie, President of Premier.
"For the balance of 2012, all underground Haulage Drift
construction will be on the JV Property and will provide
an excellent platform to conduct exploration drilling in
this highly prospective part of the Red Lake camp for years
to come.
We believe that the potential for discovery is high and
the Haulage Drift will unlock the true value of the property."

In addition to the underground development, an ongoing surface
drill program continues to intersect high-grade gold
mineralization in multiple horizons proximal to, and below,
the historic Wilmar Gold Mine.
Table 1 provides a summary of new results that complement
previous drilling that is aimed at identifying potential
resource areas that will be more fully explored from
the Wilmar Mine workings and from drill bays being constructed
at approximately 400 foot intervals in the Haulage Drift.
Wilmar is linked by an underground drift with
the Cochenour Mine which is currently being rehabilitated
by RLGM.
Past-production at Wilmar, over a period of four years,
resulted in 203,256 tons of ore being mined at an average
grade of 0.30 oz/ton Au (10.3g/t Au).
The deposit remained open at depth when the mine shut down.

Table 1: Summary of Rahill-Bonanza Drill Results:

http://www.premiergoldmines.com/s/NewsReleases.asp?ReportID=514321&_Type=News-Releases&_Title=Red-Lake-Haulage-Drift-Crosses-Onto-Rahill-Bonanza-Jv-Property-Drilling-Exp...

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


Premier Gold Mines Ltd. (TSE:PG)

http://www.premiergoldmines.com/s/Home.asp

http://www.premiergoldmines.com/i/pdf/Nov-2011.pdf

http://www.premiergoldmines.com/i/pdf/PG-MainPPT-Nov2011.pdf

http://www.premiergoldmines.com/s/RedLake.asp

http://www.premiergoldmines.com/s/Rahill-Bonanza.asp

http://www.premiergoldmines.com/s/EastBay.asp

http://www.premiergoldmines.com/s/Hardrock.asp

http://www.premiergoldmines.com/s/KeyLake.asp

http://www.premiergoldmines.com/s/Brookbank.asp

http://www.premiergoldmines.com/s/NorthernEmpire.asp

http://www.premiergoldmines.com/s/Leitch-Sandriver.asp

http://www.premiergoldmines.com/s/Nortoba-Tyson.asp

http://www.premiergoldmines.com/s/PQNorth.asp

http://www.premiergoldmines.com/s/Saddle.asp

http://www.premiergoldmines.com/s/GoldenEdge.asp

http://www.premiergoldmines.com/s/SantaTeresa.asp

http://www.premiergoldmines.com/s/Royalties.asp

http://www.premiergoldmines.com/i/pdf/Royalties.pdf

http://www.premiergoldmines.com/s/Home.asp

http://www.premiergoldmines.com/s/NewsReleases.asp

http://www.premiergoldmines.com/s/Presentations.asp

http://www.premiergoldmines.com/i/pdf/PG-Dec-2011.pdf

http://www.premiergoldmines.com/s/RelatedSites.asp

http://www.premiergoldmines.com/s/Events.asp

http://tmx.quotemedia.com/quote.php?qm_symbol=pg&locale=EN

http://tmx.quotemedia.com/quote.php?qm_symbol=PIRGF:US

http://www.premiergoldmines.com/s/QwikReport.asp

http://investorshub.advfn.com/boards/board.aspx?board_id=10569

God Bless