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Premier Gold Mines Ltd.
Summary
| Project: | Mercedes Mine | |
|---|---|---|
| Deposit: | Lupita, San Martin, Margarita | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 6/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-6-2019: Premier Gold Mines Ltd. announces an Exploration/Drilling Update report for its Lupita, San Martin, Margarita deposit at the Mercedes Mine project. Drilling results incl. 4.0m @ 10.30g/t Au, 88.25g/t Ag from 128.6m. THUNDER BAY, ON, June 25, 20 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Julie-Anais Debre (Not stated) | |
| ABSTRACT: | THUNDER BAY, ON, June 25, 2019 /CNW/ - Premier Gold Mines Limited (TSX: PG) ("Premier", "the Company") is pleased to announce an exploration update from an ongoing 42,000 m exploration and delineation core drilling program at the Company's 100%-owned Mercedes Mine, located in the State of Sonora, Mexico. Multiple new intercepts at the Lupita zone indicate the potential to extend the horizon by up to 600 metres to the west. "Our Lupita delineation and exploration program is emerging as an important success story at Mercedes," commented Stephen McGibbon, Executive Vice-President. "We are concurrently activating teams in under-explored areas on the property in an effort to discover new deposits". Mercedes is an underground gold and silver mine, with production to date (2011-2018) of 687,000 recovered ounces of gold, that exploits quartz veins and quartz-carbonate stockworks within a lowsulphidation epithermal system (Figure 1). The Lupita-Diluvio basin, located 4 km northeast of the main trend, is attractive for future discoveries. As at December 31, 2018, the Lupita deposit carried a mineral reserve of 329 kt @ 4.42 g/t Au for 47 koz of gold and is located immediately west of the Diluvio deposit. The Lupita Vein outcrops on surface for 1,300 m, has an average width of 3 m, and locally extends down dip up to 450 m. Initial exploration drilling to the west and east of Lupita at both San Martin and Margarita have recently discovered mineralized veins along the Lupita fault (Figure 2). These areas are 3 km apart and remain open further to the east and north. | |
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