Premier Gold Updates on Exploration at Rahill-Bonanza Joint Venture

Premier Gold Mines Ltd. (TSX:PG) released an update on exploration activities at its Rahill-Bonanza joint venture project, located in Northwestern Ontario. According to the company, it’s discovered further high-grade gold mineralization “immediately south of the tram and on-strike with the Red Lake Gold Mines complex.”
Other key project developments include:

• Drilling has continued testing a favourable geological setting to the south of the tram that shares similarities with the Red Lake Gold Mines complex (See Figure 1) including favourable alteration and mineralization proximal to an ultramafic rock unit.
• Hole D36987 grades 15.79 g/t Au across 2.1m contained within a mineralized alteration zone grading 6.58 g/t Au across 6.3m.
• Hole D36994 contains 18.20 g/t Au across 3.4m.
• Hole D36999 grades 36.30 g/t Au across 1.7m & 11.0 g/t Au across 2.5m.
• Hole D361036 with 46.00 g/t Au across 11.0 m (1.34 oz/ton Au across 36.0 feet) including 121.20g/t Au across 3.8 m (3.54 oz/ton Au across 12.3 feet); one of the deepest holes drilled to test this horizon to-date

Stephen McGibbon, executive vice-president of Premier, commented:

We continue to be rewarded with our patience at the Rahill-Bonanza Joint Venture. Our 2016 exploration program will focus on defining and expanding the Fold Target for high grade extensions both along strike and up and down plunge. Several other favourable horizons are wide open at depth.

Click here to read the full Premier Gold Mines Ltd. (TSX:PG) press release.