Premier Gold Mines (PG-T) has returned long gold intercepts, some in excess of 100 metres, on its Geraldton project in Northwestern Ontario, with true widths of between half and 70% of reported intercepts.
The intercepts were encountered on the Kailey zone, which is a bulk tonnage target, where two parallel stringer horizons converge. The company highlights three holes.
Hole 43, which was drilled at a dip angle of 50 degrees, returned 140 metres of 1.15 gram gold per tonne starting at a depth of 7 metres. Hole 45, which was drilled at a dip angle of 60 degrees, returned 162 metres of 1.47 gram gold per tonne starting at a depth of 6 metres, including 77 metres of 1.93 gram gold per tonne starting at a depth of 92 metres. Hole 48, which was drilled at a dip angle of 70 degrees, intersected 191 metres of 1.32 gram gold per tonne starting at a depth of 6 metres, including 92 metres of 2.16 grams gold per tonne starting at a depth of 6 metres, and 3 metres of 7.06 grams gold per tonne at a depth of 212 metres.
True widths are estimated at about 50% to 70% of intersection widths. Mineralization is open down-plunge, and the company believes there is potential for a high-grade discovery at depth. To test this theory, drilling is currently under way to test one of the horizons.
Premier has an option to acquire up to a 70% interest in the Geraldton project from Roxmark Mines (RMK-V).
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