ONTARIO — Premier Gold Mines of Thunder Bay, ON, operates the Rahill-Bonanza joint venture near Red Lake and is turning up near-bonanza grades. The latest hole intersected high-grade mineralization within the West Granodiorite zone (WGZ) and returned assays of up to 12.5 g/t Au over 4.5 metres in a core section with numerous specks of visible gold. The same hole returned 21.2 g/t over 0.5 metres.
The new drill intercept might suggest excellent potential to increase the size of the WGZ deposit. The high-grade interval was contained within a larger mineralized section that returned 1.5 g/t Au across 75 metres,.
The Rahill-Bonanza joint venture includes Premier and Red Lake Gold Mines, an affiliate of Vancouver-based Goldcorp. Premier says recent work hints at an extension of Goldcorp's Bruce Channel deposit into the joint venture property, and a new hole is being drilled to test that theory.
Maps and sections of the Red Lake area and the joint venture property can be viewed at www.PremierGoldMines.com.