Premier Gold Mines
’ (TSX:PG; OTC:PIRGF) story consists of a lot of moving parts, which are currently “moving us in the right direction,” CEO Ewan Downie writes in the junior’s C-Suite blog.
The latest in that story is the $5 million cash and share acquisition of Pure Gold Mining
’s (TSXV: PGM) 28 mining claims known as the Buffalo claims that are contiguous with Premier’s past-producing Hasaga gold property in Ontario’s Red Lake district.
The transaction expands the Hasaga property by 5.13 km2
to 12 km2
, increasing the project’s potential area of mineralization by 75% in the coveted district.
The drive behind the transaction has been the encouraging results coming from Hasaga’s 2015 exploration program that suggests the project could be amenable to open pit mining. Recent assays include 1.06 g/t Au over 93 metres from the Central zone and 1.19 g/t over 107 metres from the Hasaga porphyry.
Read the complete article at NorthernMiner.com/news/premier-gold