Premier Gold Mines (PG-T) continues to put substance behind its recent market run by continuing to prove up its Hardrock project in Northwestern Ontario.
Highlight intersects from the EP Zone include 5.21 grams gold per tonne over 37 metres, 6.51 grams over 18.4 metres – both within the North Limb — and 19.03 grams over 11.3 metres in an area known as the South Limb.
Premier also had success drilling the SP Zone, with assays returning highlights of 6.63 grams over 28.1 metres, 6.6 grams over 32.6 metres and 36.22 grams over 2.2 metres.
The EP-Zone, it is hoped, will develop into a high-grade open pit target while the SP Zone – which was partially mined in the past — potentially hosts mineralization over a plunge length of 3 km, Premier says.
The current drill program is slated to carry on throughout 2009 with a NI 43-101 compliant resource estimate due by the end of the year.
Premier holds a 70% stake in Hardrock Project with Roxmark Mines (RMK-V) holding the rest.
The Hardrock Project is host to several past-producing mines which together produced close to 3 million oz. of gold.
Premier says the project has the potential of hosting several styles of mineralization such as open pit-style mineralization with grades over 1.5 grams gold; broad zones of mineralization with grades above 5 grams gold; and narrow vein zones with grades over 7 grams gold.
The company not only benefits from strong assay results but also from solid infrastructure in the area. The Trans-Canada Highway, Trans-Canada Pipeline, and major power lines all run through the property.
In Toronto on July 29 the company finished 2% higher at $2.70 on 160,000 shares traded.
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