This morning Premier Gold Mines (TSX: PG) released drill results from ongoing expansion drilling at its El Nino underground mine known as the South Arturo Property. Drilling consisted of several step-out and infill drills as part of a 25 hole campaign at Premier’s 40% owned property. Highlights from the drilling include 39.6 meters of 17.11 grams per tonne gold, including 21.3 meters of 24.75 grams per tonne gold.
Results from a total of eleven holes were released this morning, while further assays from the drill program remain pending. The company highlighted a number of additional results from the program, including 100.6 meters of 5.32 grams per tonne gold. Full results released this morning can be found below.
| Hole ID | Type | From (M) | To (M) | Length (M) | Gold G/T | Length (FT) | Gold Oz/Ton |
|---|---|---|---|---|---|---|---|
| SEC20003 | Core | 54.9 | 62.5 | 7.6 | 7.99 | 25.0 | 0.23 |
| and | 70.1 | 111.3 | 41.1 | 7.37 | 135.0 | 0.21 | |
| including | 77.7 | 91.5 | 13.7 | 8.52 | 45.0 | 0.35 | |
| SER20006 | RC | 89.9 | 105.2 | 15.2 | 5.37 | 50.0 | 0.16 |
| SEC20007 | Core | 131.1 | 155.4 | 24.4 | 5.47 | 80.0 | 0.16 |
| including | 131.1 | 135.6 | 4.6 | 11.36 | 15.0 | 0.33 | |
| SER20012 | RC | 45.7 | 53.3 | 7.6 | 4.61 | 25.0 | 0.13 |
| SER20016 | RC | 50.3 | 54.9 | 4.6 | 8.44 | 15.0 | 0.25 |
| SER20017 | RC | 50.3 | 82.3 | 32.0 | 7.65 | 105.0 | 0.22 |
| including | 54.9 | 65.5 | 10.7 | 14.83 | 35.0 | 0.43 | |
| SER20018 | RC | 50.3 | 150.9 | 100.6 | 5.73 | 330.0 | 0.17 |
| including | 86.9 | 100.6 | 13.7 | 8.52 | 45.0 | 0.25 | |
| SER20019 | RC | 80.8 | 120.4 | 39.6 | 17.11 | 130.0 | 0.50 |
| including | 91.4 | 112.8 | 21.3 | 24.75 | 70.0 | 0.72 | |
| SER20021 | RC | 82.3 | 88.4 | 6.1 | 8.34 | 20.0 | 0.24 |
| SER20024 | RC | 0.0 | 7.6 | 7.6 | 7.88 | 25.0 | 0.23 |
| SER20025 | RC | 0.0 | 45.7 | 45.7 | 6.79 | 150.0 | 0.20 |
| including | 16.8 | 25.9 | 9.1 | 10.13 | 30.0 | 0.30 |
The results are said to bode well for the future of the El Nino Mine, with the data to be used to expand reserves of the project and hopefully extend the mine life of the project. The deposit is said to remain open along strike as well as at depth. Production for the project has exceeded 550 tonnes per day, at an average grade of 8.90 grams per tonne gold. As a result, as of June 30, 2020, 11,495 ounces of gold are attributable to Premier Gold.
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The South Arturo Property is operated in conjunction with that of Nevada Gold Mines LLC.
Premier Gold Mines last traded at $2.95 on the TSX.
Information for this briefing was found via Sedar and Premier Gold Mines. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
