by Stephen McGibbon
Today we released recent exploration results from both Mercedes and Hasaga. We are very pleased that that both projects continue to generate such compelling drill results.At Hasaga, the C-Zone and D-Zone targets are clearly structurally-controlled and appear to be open for further expansion, while defining such high grades close to our mine workings at Mercedes will support improved operational performance.
The Hasaga property is currently active with two drills. One drill is on each of the C-Zone and D-Zone. Our C-Zone drilling is a combination of new holes and wedged holes designed to delineate a structure that we believe is fairly well understood. We have had good success with our hit ratios, and have to credit our on-site geologists and drillers for threading the needle on this program.
At the D-Zone, it’s still not clear exactly what we have, although we anticipate dealing with a structure similar to the C-Zone.We have tended to target a shallower series of holes in order to sort things out, but are also aware that the deeper plunge extension of the C-Zo… Read More...
by Stephen McGibbon
It has been one of the longest and coldest winters in recent memory in the Red Lake area and it doesn’t appear to be done quite yet.Exploration programs often rely on long winters in northern Ontario when drilling is required over areas normally very wet during other parts of the year.
Today Premier has released an update of drilling results from our Hasaga winter exploration program.We are very pleased with our success to date, in delineating and expanding the continuity of the Hasaga trend along strike and at depth. We are drilling with a slightly smaller budget of some US$2.8 million and 20,000 metres, so we are being very selective with our targeting.
The majority of our efforts will support delineation of many of the better exploration results from 2017 such as with HMP151 and HMP164W3. These deeper, higher-grade structures could indicate the potential for the optionality of a lower CAPEX, higher-grade standalone production opportunity in addition to the near surface … Read More...
by Ewan Downie
We are working hard to build on the successes achieved across our many projects in 2017. An ongoing challenge inherent with mining operations is the constant need to replace and hopefully build on mineral reserves. With the recent completion of mining at the Phase 2 open pit at South Arturo, reserve and resource growth was a key focus at the Project in 2017. The substantial addition of mineral reserves and resources on several deposits at South Arturo confirms our belief this project will be a solid long-term producing asset that is expected to have a significant impact on our goal to become a mid-tier producer.
We have learned a lot with our experience at South Arturo. For one, a deposit doesn’t have to be big to be great! Despite the original reserve estimate for Phase 2 being only 155,000 ounces (Premier’s 40%) at the time of our purchase in 2015, the financial impact of our first open pit has been significant. We estimate that our sub-US$500 per ounce “All-in-Sustaining-Costs” (AISC) at South Arturo (to … Read More...
by Ewan Downie
Today’s press release is the culmination of discussions that have been active for well over a year, and represents an important achievement that reflects our willingness to seek innovative solutions in the name of creating shareholder value. We believe we have accomplished just that and look forward to moving ahead quickly to seize the opportunity. This is an agreement that addresses multiple needs for Premier.
Consistent with Premier’s strategy to secure accretive partnerships, this arrangement will broaden our already positive working relationship with Barrick in Nevada and provides certainty in processing a one-time bulk sample of underground material from the upcoming development and test-mining program of the Cove deposit. The mineralization at McCoy-Cove is high-grade, but also refractory. It will be processed at the same plant as the refractory ore we have been mining at South Arturo. It was important for us to get a processing agreement in-place prior to the start of the underground program and before c… Read More...