Open pit area growing for Premier and Roxmark

The Hardrock project continues to yield impressive results for both Premier Gold (PG-T) and its minority partner Roxmark Mines (RMK-T).

Highlights from four separate holes included: 4.93 grams per tonne gold over 10.5 metres; 5.69 grams over 24.2 metres; 6.91 grams gold over 18.7 metres; and 3.38 grams gold over 20.9 metres.

True widths are estimated to be 70% of the above listed intercepts.

Those strong results all come from the NN Zone – which is the open pit target at the project — but for investors awaiting the release of a NI 43- 101 resource estimate, the results are a mixed bag.

That’s because Premier – which is the operator of the project – says the results are so promising that it will delay the release of the resource calculation so that the new drill results can be added in.

“It is truly remarkable that we are continuing to expand the near-surface mineralized zones westward. This was unexpected and of such significance that we’ve decided to incorporate the new drill-hits into the resource evaluation,” Tim Twomey, Premier’s exploration manager, said in a statement.

It now says the resource estimate will be released in January of next year.

And while results from NN will be worked into the estimate immediately, the latest results from other areas will take more time to work their way onto the resource table.

The company also drilled the F2 and Northeast Zones where it believes additional mineral resources for an underground mining will be delineated at depth in multiple zones.

Those deeper targets will be the focus of next years drill campaign and Premier says any amendments to the new mineral resource would come after the second quarter.

Hardrock sits in Northwestern Ontario near the town of Geraldton.

Premier is earning into a 70% interest, while Roxmark holds a 30% carried interest.

The site hosted several past-producing mines that turned out over 3 million oz. of gold 1938 and 1968.

In Toronto on Dec. 9 – the day news of the latest drill results was released – Premier shares were off 3¢ to $3.43 on 398,000 shares traded, while Roxmark shares were up a penny to 25¢ on 4.8 million shares traded.