GOLD: Hardrock drill results hints at expansion potential

ONTARIO – The current drill program mounted by Premier Gold Mines on its Hardrock gold deposit at its Trans-Canada project near Geraldton has returned more high grade results and hints at the potential to expand the mineralization.

Hole HR131, a step-out hole beneath the current 200-metre pit resource, intersected 1.90 g/t Au across 51.8 metres and 2.14 g/t across 41.5 metres. Other holes drilled to upgrade the resource category cut 3.60 g/t across 20.7 metres and 12.43 g/t across 12.0 metres. Other core samples assayed 22.87 g/t across 3.0 metres and 8.46 g/t across 5.5 metres. Hole MM340, drilled to test the new Mulligan zone, cut 8.46 g/t Au across 3.0 metres.

Premier puts the open pit resource at 46.66 million measured and indicated tonnes grading 1.51 g/t Au (using a 0.50 g/t cut-off) plus 6.62 million inferred tonnes at 1.74 g/t. The underground resource includes 5.05 million measured and indicated tonnes grading 5.48 g/t Au (at a 2.80 g/t cut-off)  plus 16.01 million inferred tonnes at 5.91 g/t.

The company is working on a preliminary economic assessment of the Hardrock deposit. It is due out in Q3 2013.

See also PremierGoldMines.com to read the January 2013 technical report.