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Premier Gold Announces Mineral Resource Estimate Updated at Hardrock

Mining News - Published on Mon, 07 Oct 2019

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Premier Gold Mine Limited announced results of an updated mineral resource estimate for the Hardrock deposit, which includes the Hardrock open pit deposit located south of Geraldton, Ontario. Hardrock, the primary deposit within the larger Greenstone Property, is owned by Greenstone Gold Mines, a 50/50 partnership between Premier and Centerra Gold Inc.

Highlights of the September 4, 2019 estimate include:
Total Measured and Indicated Resources of 7,105,000 ounces of gold for the Hardrock deposit, an 11% increase versus the 2016 estimate
Measured and Indicated Resources (M+I) restricted to open pit potential of 5,868,000 ounces of gold including an initial 237,000 ounces in the Measured category
Updated 2019 mineral resource estimate represents a 21% increase in grade, 26% increase in ounces and 4% increase in tonnes versus Measured and Indicated O/P resources reported in the 2016 Feasibility Study
Estimate supported by some 12,000 m of additional infill core drilling and 26,000 m of reverse circulation (RC) drilling in selected areas during two campaigns held in 2018 and 2019.

The mineral resource estimate for the Hardrock deposit has been completed by GMining Services Inc., under the supervision of Rejean Sirois, P. Eng., Vice-President, Geology and Resources. GMining is in the process of updating the related mineral reserve estimate for the project, which is anticipated to be complete by year-end.

Ewan Downie, President & CEO of Premier said that “Significant work has been completed by the Greenstone Gold Mines team since the release of the Feasibility Study in 2016. The increase in ounces and grade within the updated pit shell confirm our view that Hardrock is one of Canada’s most attractive near-term development opportunities.”

Two drilling campaigns have been completed in 2018 and 2019 designed to address specific aspects of the Hardrock project based on recommendations stemming from audits of the 2016 Feasibility Study.

2019 Drill Program
The second campaign drilled in 2019 included a total of 12,008 m of core drilling in 53 holes, and 5,946 m of RC drilling in 76 holes as presented in Figure 2. The core drilling was designed to infill specific areas across the model and validate the 2018 internal mineral resource model update. The 2019 RC program tested up to seven benches (70 m) in previously drilled zones. The results were positive and confirmed the continuity and gold grades as predicted in the 2018 resource model update.

GMining updated the mineralisation wireframes with the 2019 drilling information and following the same estimation strategy as undertaken in the 2018, updated the mineral resource model (described in previous paragraph). After visual and statistical validation, the block model was found to be a good representation of the wireframes used to constrain the mineralization and the grade composites. Mineral Resource classification was based primarily on estimation pass, and other considerations such as drill spacing and confidence in grade continuity.

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Posted By : Rabi Wangkhem on Mon, 07 Oct 2019
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