Highlights include 6.52 g/t Au across 84.4 m and 40.47 g/t Au across
10.5 m
Shares Issued: 149,372,712
THUNDER BAY, ON, June 27, 2013 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) ("Premier") is pleased to announce additional assay results from the Helen Zone on
the Company's Cove Gold Project, located along the Eureka-Battle
Mountain Trend in Nevada. These results continue to expand
mineralization with strong grades and widths within the Upper and Lower
Helen Zones.
The Helen Zone deposit represents a prospective, high-grade,
Carlin-style, gold deposit and is the focus of an ongoing drill program
to extend mineralization within both the Upper and Lower Helen Zone
horizons. Drilling has now expanded well beyond the 2011 resource
envelope and indicates that the favourable horizons remain wide open
for expansion. Highlights of the most recent 20 drill holes (one was
abandoned) include:
Upper Helen Zone
- 19.60 grams per tonne gold (g/t Au) across 10.80 metres (m) (or 0.57
ounces per ton gold (oz/t Au) across 35.4 feet) in hole AX-35
- 37.01 g/t Au across 2.7 m (1.08 oz/t Au across 8.8 feet) in the Upper
Helen Zone from hole AX-40.
- 9.98 g/t Au across 9.6 m (0.29 oz/t Au across 31.5 feet) in hole AX-41
Lower Helen Zone
- 6.52 g/t Au across 84.4 m ((0.19 oz/t Au across 276.8 feet) including
14.59 g/t Au across 14.0 m (0.43 oz/t Au across 46.0 feet) from hole
AX-27
- 21.49 g/t Au across 4.5 m (0.63 oz/t Au across 14.7 feet) in the Lower
Helen Zone from hole AX-30
- 40.47 g/t Au across 10.5 m (1.18 oz/t Au across 34.4 feet) including
76.58 g/t Au across 5.0 m (2.24 oz/t Au across 16.3 feet) from hole
AX-36
Drilling has extended high-grade mineralization in the Helen target
horizon by approximately 365 m (1200 feet) southeast and 245 m (800
feet) northwest of the previously tested Helen deposit and
mineralization remains open in multiple directions. The balance of the
2013 program will see additional expansion drilling completed in the
Helen Zone, testing of highly prospective targets beneath the historic
Cove pit, and culminating in a resource estimate in Q4-2013.
Nevada is one of the world's most favourable jurisdictions for mine
development and the Cove Gold Project offers substantial upside in the
existing resource areas in addition to opportunities for the discovery
of new high-grade gold deposits within the district. The Cove deposit
was mined (primarily by open pit) between 1986 and 2001, a period of
comparatively low metal prices, producing approximately 2.6 million
ounces of gold, and more than 100 million ounces of silver. The Cove
Gold Project is held under lease from Newmont Mining Corporation.
Newmont has the option at any time to earn back 51% by funding
expenditures equal to 250% of all exploration expenditures on the
project since March of 2006. If Premier submits a positive feasibility
study containing 500,000 ounces gold or greater, Newmont has a window
of 90 days in order to confirm its participation.
Table 1.0 provides a summary of recent results at Cove and Image 1.0
provides a surface plan view of drilling into the Lower Helen Zone.
These results include both infill drilling and step-out holes designed
to expand mineralization within the Helen Zone.
Table 1.0 - Select assay results for Helen Zone drilling
Hole-ID | UTM Coordinates (m) | Dip/Azimuth (degrees) | From (m)* | To (m)* | Interval (m)* | Grade (g/tonne) | From (ft) | To (ft) | Interval (ft) | Grade (oz/ton)* | Zone |
AX-24
|
4465723N/481734
E
|
-80/047
|
396.5
|
399.6
|
3.0
|
5.50
|
1301.0
|
1311.0
|
10.0
|
0.16
|
Upper
|
AX-25
|
4465789N/481839
E
|
-75/068
|
399.7
|
402.2
|
2.4
|
3.59
|
1311.5
|
1319.5
|
8.0
|
0.10
|
Upper
|
AX-26
|
4465722N/481733
E
|
-68/003
|
547.0
|
550.5
|
3.5
|
4.02
|
1794.5
|
1806.0
|
11.5
|
0.12
|
Lower
|
AX-27
|
4466039N/481583E
|
-70/096
|
406.0
|
457.8
|
51.8
|
1.62
|
1332.0
|
1502.0
|
170.0
|
0.05
|
Upper
|
AX-27
|
including
|
|
408.7
|
413.2
|
4.4
|
3.29
|
1341.0
|
1355.5
|
14.5
|
0.10
|
Upper
|
AX-27
|
|
|
519.2
|
603.6
|
84.4
|
6.52
|
1703.5
|
1980.3
|
276.8
|
0.19
|
Lower
|
AX-27
|
including
|
|
520.9
|
534.3
|
13.4
|
7.19
|
1709
|
1753
|
44.0
|
0.21
|
Lower
|
AX-27
|
and
|
|
551.1
|
578.0
|
26.9
|
7.99
|
1808.0
|
1896.2
|
88.2
|
0.23
|
Lower
|
AX-27 | and |
| 588.9 | 602.9 | 14.0 | 14.59 | 1932.0 | 1978.0 | 46.0 | 0.43 | Lower |
AX-28
|
4465564N/481903
E
|
-82/053
|
NSV
|
|
|
|
|
|
|
|
NSV
|
AX-29
|
4466041N/481588
E
|
-68/086
|
474.6
|
485.7
|
11.1
|
4.24
|
1557.0
|
1593.5
|
36.5
|
0.12
|
Upper
|
AX-29
|
|
|
499.7
|
506.7
|
7.0
|
4.13
|
1639.5
|
1662.5
|
23.0
|
0.12
|
Upper
|
AX-29 |
|
| 568.7 | 574.4 | 5.7 | 11.42 | 1865.7 | 1884.4 | 18.7 | 0.33 | Lower |
AX-29 |
|
| 588.3 | 590.1 | 1.8 | 23.21 | 1930.0 | 1936.0 | 6.0 | 0.68 | Lower |
AX-30
|
4466034N/481576
E
|
-73/073
|
474.7
|
487.1
|
12.4
|
3.14
|
1557.3
|
1598.0
|
40.7
|
0.09
|
Upper
|
AX-30 |
|
| 573.3 | 577.8 | 4.5 | 21.49 | 1880.9 | 1895.6 | 14.7 | 0.63 | Lower |
AX-31
|
4465723N/481734
E
|
-68/021
|
390.4
|
399.7
|
9.3
|
5.31
|
1281.0
|
1311.5
|
30.5
|
0.16
|
Upper
|
AX-31
|
including
|
|
397.0
|
399.7
|
2.7
|
9.47
|
1302.5
|
1311.5
|
9.0
|
0.28
|
Upper
|
AX-31 |
|
| 586.4 | 588.0 | 1.5 | 44.33 | 1924.0 | 1929.0 | 5.0 | 1.29 | Lower |
AX-31
|
|
|
659.4
|
662.2
|
2.7
|
4.04
|
2163.5
|
2172.5
|
9.0
|
0.12
| Dixie Valley |
AX-32
|
4466041N/481578
E
|
-70/096
|
562.5
|
564.6
|
2.1
|
8.73
|
1845.5
|
1852.4
|
6.9
|
0.25
|
Lower
|
AX-33
|
4466038N/481575
E
|
-78/033
|
388.9
|
390.8
|
1.8
|
4.31
|
1276.0
|
1282.0
|
6.0
|
0.13
|
Upper
|
AX-33
|
|
|
516.3
|
517.9
|
1.5
|
3.21
|
1694.0
|
1699.0
|
5.0
|
0.09
|
Lower
|
AX-33
|
|
|
545.3
|
548.3
|
3.0
|
1.73
|
1789.0
|
1799.0
|
10.0
|
0.05
|
Lower
|
AX-34 (RC)
|
4466043N/481574
E
|
-77/012
|
387.1
|
388.6
|
1.5
|
1.45
|
1270.0
|
1275.0
|
5.0
|
0.04
|
Upper
|
AX-35 | 4465563N/4819 06E | -67/021 | 412.7 | 423.5 | 10.8 | 19.60 | 1354.0 | 1389.4 | 35.4 | 0.57 | Upper |
AX-35 | including |
| 418.2 | 421.7 | 3.5 | 29.47 | 1372.0 | 1383.4 | 11.4 | 0.86 | Upper |
AX-35
|
|
|
462.1
|
476.9
|
14.8
|
4.32
|
1516.0
|
1564.5
|
48.5
|
0.13
|
Lower
|
AX-35
|
including
|
|
469.4
|
472.4
|
3.0
|
7.36
|
1540.0
|
1550.0
|
10.0
|
0.21
|
Lower
|
AX-36
|
4465723N/481736
E
|
-67/005
|
395.5
|
398.7
|
3.3
|
9.53
|
1297.5
|
1308.2
|
10.7
|
0.28
|
Upper
|
AX-36
|
including
|
|
397.0
|
398.3
|
1.3
|
17.94
|
1302.5
|
1306.7
|
4.2
|
0.52
|
Upper
|
AX-36 |
|
| 561.6 | 572.0 | 10.5 | 40.47 | 1842.4 | 1876.8 | 34.4 | 1.18 | Lower |
AX-36 | including |
| 561.6 | 566.5 | 5.0 | 76.58 | 1842.4 | 1858.7 | 16.3 | 2.24 | Lower |
AX-37
|
4465784N/481840
E
|
-73/035
|
428.9
|
441.4
|
12.5
|
5.16
|
1407.0
|
1448.0
|
41.0
|
0.15
|
Upper
|
AX-37
|
including
|
|
437.2
|
441.4
|
4.1
|
8.17
|
1434.4
|
1448.0
|
13.6
|
0.24
|
Upper
|
AX-37
|
|
|
498.1
|
511.7
|
13.7
|
2.83
|
1634.1
|
1678.9
|
44.8
|
0.08
|
Lower
|
AX-37
|
including
|
|
510.2
|
511.7
|
1.5
|
6.79
|
1674.0
|
1678.9
|
4.9
|
0.20
|
Lower
|
AX-38 (RC)
|
4466041N/481572
E
|
-78/355
|
413.0
|
414.5
|
1.5
|
2.38
|
1355.0
|
1360.0
|
5.0
|
0.07
|
Upper
|
AX-39
|
4465772N/481804
E
|
-76/019
|
408.9
|
412.1
|
3.2
|
9.87
|
1341.5
|
1352.0
|
10.5
|
0.29
|
Upper
|
AX-39
|
|
|
574.7
|
579.3
|
4.6
|
9.56
|
1885.5
|
1900.5
|
15.0
|
0.28
|
Lower
|
AX-39 |
|
| 591.2 | 594.7 | 3.5 | 15.34 | 1939.5 | 1951.0 | 11.5 | 0.45 | Lower |
AX-40 | 4465563N/4819 06E | -67/360 | 448.8 | 451.5 | 2.7 | 37.01 | 1472.5 | 1481.3 | 8.8 | 1.08 | Upper |
AX-40
|
|
|
605.6
|
612.2
|
6.6
|
6.14
|
1987.0
|
2008.5
|
21.5
|
0.18
|
Lower
|
AX-41
|
4465772N/481804
E
|
-65/345
|
412.5
|
422.1
|
9.6
|
9.98
|
1353.5
|
1385.0
|
31.5
|
0.29
|
Upper
|
AX-41 | including |
| 414.7 | 418.5 | 3.8 | 15.35 | 1360.5 | 1373.0 | 12.5 | 0.45 | Upper |
AX-41
|
|
|
567.2
|
588.7
|
21.5
|
7.11
|
1861.0
|
1931.5
|
70.5
|
0.21
|
Lower
|
AX-41 | including |
| 572.7 | 575.5 | 2.7 | 23.13 | 1879.0 | 1888.0 | 9.0 | 0.68 | Lower |
AX-42
|
4465783N/481840
E
|
-74/002
|
369.7
|
375.8
|
6.1
|
7.87
|
1213.0
|
1233.0
|
20.0
|
0.23
|
Upper
|
AX-42 |
|
| 570.6 | 575.0 | 4.4 | 13.68 | 1872.0 | 1886.5 | 14.5 | 0.40 | Lower |
AX-43
|
4465772N/481804
E
|
-71/345
|
Abandoned
|
|
|
|
|
|
|
|
Abandoned
|
AX-44
|
4465772N/481804
E
|
-71/345
|
375.5
|
390.0
|
14.5
|
5.85
|
1232.0
|
1279.5
|
47.5
|
0.17
|
Upper
|
AX-44
|
including
|
|
375.5
|
381.3
|
5.8
|
7.75
|
1232.0
|
1251.0
|
19.0
|
0.23
|
Upper
|
- Gravimetric assays used when available - true widths estimated
at approximately 80% - 95% of core intercept - * denotes table
values calculated from original data
|
"Our drill results comprise some of the best results seen coming out of
Nevada over the past several years" stated Warren Thompson, US
Exploration Manager for Premier. "These results confirm the robust
nature of the Helen Zone deposit and we look forward to expanding
mineralization and testing additional prospective targets in the
current program".
In May, the Bureau of Land Management (BLM) approved the Company's Plan
of Operation (POO) for the Cove-Helen Underground Mine Project. The
approval allows Premier the flexibility to consider, at its discretion,
up to 100 acres of disturbance for exploration and development purposes
and to construct a portal and ramp to further explore the Helen Zone
from underground. These key approvals position the Company to
aggressively pursue expansion of its mineral resources from new surface
platforms during the remainder of 2013 and potentially complete an
underground bulk sampling program in the future.
Premier's management team believes that the Cove Gold Project represents
one of the most under-explored projects in Nevada. It is located along
the Eureka-Battle Mountain Trend that is host to numerous multi-million
ounce producing and past-producing mines. The property is located in
close proximity to excellent infrastructure (including paved roads &
power) and is permitted for an expanded surface drill campaign and
underground access.
ANNUAL GENERAL MEETING
Premier Gold Mines Limited cordially invites all shareholders to its
Annual General Meeting of Shareholders, at 4:00pm today, Thursday June
27, 2013, at the Toronto Board of Trade. Following the formal meeting a
presentation will be given at 4:30pm by several members of the of the
Company's management team and will include a complete update on the
progress of all three of its core projects and highlight your Company's
substantial recent successes, and provide guidance on Premier's future
plans and initiatives.
OTHER PROJECTS
Premier holds several projects that are subject to major exploration
programs in 2013. Recently, underground drilling has commenced from
the haulage drift in Red Lake on the Rahill-Bonanza Project (PG 49% and
Red Lake Gold Mines 51%). Several drills are active on the Company's
100%-owned Trans-Canada Property. Activity is focussed in preparation
for a revised mineral resource estimate at Hardrock and work on
Preliminary Economic Assessments for the Hardrock and Brookbank
deposits.
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. Assay results for RC drill
samples were sent to American Assay Laboratories located in Elko,
Nevada prep facility and analysis was performed at their Sparks, Nevada
analytical facility utilizing 30 gram fire assay with an AA finish.
Core samples were analyzed by Inspectorate laboratory facility located
in Sparks, Nevada and analysis was done using 30 gram fire assay with
AA finish and ICP-MS 30 element scan from 4-acid digestion.
Premier Gold Mines Limited is one of North America's leading exploration companies with a
high-quality pipeline of projects focused in proven, safe and
accessible mining jurisdictions in Canada and the United States. The
Company is fully financed and its property portfolio includes
significant assets in world class gold mining districts such as Red
Lake, Musselwhite and Geraldton in Ontario and the Battle Mountain and
Carlin Trends in Nevada.
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 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.
Image with caption: "Image 1.0 - Current Lower Helen Zone mineralized footprint (CNW Group/Premier Gold Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20130627_C3769_PHOTO_EN_28585.jpg
SOURCE: Premier Gold Mines Limited
<p> Ewan Downie, President & CEO<br/> Phone: 807-346-1390<br/> Fax: 807-346-1381<br/> e-mail: <a href="mailto:Info@premiergoldmines.com">Info@premiergoldmines.com </a><br/> Web Site: <a href="http://www.premiergoldmines.com">www.premiergoldmines.com</a> </p>