Thoughts from Stephen McGibbon...

by Stephen McGibbon


Today, Premier is providing an update of exploration drilling that has been conducted on our Hasaga Property during the late spring and summer. The positive results of our 2017 program adds to the success of our 2016 campaign, which confirmed a multi-million ounce resource of near surface mineralization. We are strong believers that deeper, higher-grade mineralization can eventually be delineated. To do so requires being very systematic in our approach. Where possible, we are reaming and re-surveying old drill holes in order to help fix the location of the mineralization they contain. We released our first “wedged” drill hole assays drilled from an older hole and have one more waiting in the wings at the assay lab right now.

One bold move that appears to have worked out well for us was to drill holes HMP161 and HMP162 as 500 metre step-outs from known mineralization in the C-Zone target area. Overall, we continue to extend mineralization at depth at C-Zone and towards the Buffalo Zone (the “West Extension”) in addition to confirming the continuity of mineralization proximal to historic intercepts on the property. The results are still profiling widespread lower grade mineralization hosting higher-grade intervals over more modest width of up to ten metres or so.

We will continue drilling with one active diamond drill until mid-to-late November. Our budget for Hasaga will allow us to complete a few more intercepts from the wedged holes before finishing the year with additional step-outs to the west toward Buffalo.

We are currently working through our initial budget proposals for the 2018 exploration campaign. Premier regards exploration in Canada as a core opportunity to be pursued. In July, Premier submitted its EA and EIS documentation for the Hardrock Project near Geraldton, Ontario to federal and provincial authourities. This important work was submitted with full written support from the First Nation communities involved in the consultation process. While exploration activity at Hardrock has been curtailed for the time being, our ability to advance the Hardrock Project through feasibility to permitting on a timely basis gives us confidence that Ontario continues to be open for business. Another clear signal of optimism? New Gold’s Rainy River Project is scheduled to transition from construction to operation during the third quarter of 2017.