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Premier Gold Mines Ltd.
Summary
| Project: | Mercedes Mine | |
|---|---|---|
| Deposit: | San Martin, Margarita | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 5/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 14-5-2019: Premier Gold Mines Ltd. announces an Exploration/Drilling Update report for its San Martin, Margarita deposit at the Mercedes Mine project. Drilling results incl. 30.4m @ 6.43g/t Au, 11.91g/t Ag from 94.1m. "Premier is very encouraged by the ex | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Julie-Anaïs Debre (Internal) | |
| ABSTRACT: | "Premier is very encouraged by the expansion of the Lupita – Diluvio resource areas, and the 3 km corridor that step out exploration has identified", commented Stephen McGibbon, Executive VicePresident. "A high-grade intercept from the delineation program at Diluvio West validates our current resource model". Mercedes is an underground gold and silver mine that exploits quartz veins and quartz-carbonate stockworks within a low-sulphidation epithermal system. The Mercedes trend is host to a series of high-grade sub-vertical veins with production to-date (2011-2018) of some 687,000 recovered ounces of gold (Figure 1). Four kilometres east of this main trend is an under-explored basin that hosts both the Lupita and Diluvio deposits. This corridor is attractive for future discoveries. The Lupita deposit has a 2018 P+P mineral reserve of 329 kt @ 4.42 g/t Au for 47 koz and the Diluvio deposit has a 2018 P+P mineral reserve is 2,055 kt @ 3.10 g/t Au for 205 koz. It is the Company's goal to convert a portion of Lupita and Diluvio resources to mineral reserves during the balance of 2019 and successfully explore for potential resource extensions. | |
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