Premier Gold Mines assays from the winter surface drilling program on the Company’s 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario. Drilling has continued to extend and in-fill near surface mineralization in key target areas.
The Hasaga Property is Premier’s largest exploration program being conducted in Canada in 2016. The 50,000 meter drilling campaign and $7 million overall project budget comes on the heels of more than 60,000 metres of drilling that was conducted in 2015.
The Hasaga Property is host to the past-producing Hasaga, Buffalo and Gold Shore Mines and is being evaluated for its lower grade, open-pit mineable potential as well as higher grade mineralization that may occur at depth. Premier regards the Hasaga Property as having exploration potential similar to the company’s Hardrock Project, where a multi-million ounce gold resource exists at the site of a past-producing underground mine.
Open pit mining has not made a significant contribution to the Red Lake area’s past production. Premier believes this is an opportunity that has largely been overlooked.