ONTARIO – Thunder Bay, ON-based Premier Gold Mines has begun diamond drilling on its 100% owned Hasaga gold property near Red Lake. The property was acquired earlier this year in an asset swap with Goldcorp. The Hasaga property has three former gold producers and is located near the prolific Balmer-Confederation unconformity.
Premier believes that the Hasaga and Gold Shore mines, which ceased production in the early 1950s, have the potential to host shallow mineralization that may be amenable to open pit mining in addition to higher grade underground style mineralization. The initial target in the current 25,000-metre program will be the main porphyry rock unit that was mined at Hasaga and at the adjacent Howey Gold mine. These former underground mines produced in excess of 600,000 oz of gold.
The company’s most recent annual report is available at PremierGoldMines.com.