Among the latest stand-out results, Premier intercepted 12.2m at 69.5g/t gold and 11.78g/t silver at Barrancas, from 44.15m depth; and 6m at 70.75g/t gold and 45.16g/t silver near surface at Rey de Oro.

The 2017 45,000m surface and underground drilling programme focused in the second half on the Mercedes mine trend and near-development opportunities at Barrancas, Brecha Hill, Lagunas, Corona de Oro and Casa Blanca.

Premier acquired full ownership of the Mercedes underground gold-silver mine in October 2016.

Its 2017 production guidance for Mercedes was 85,000-90,000 ounces of gold at all-in sustaining costs of US$810-$840 an ounce, and 340,000-365,000oz of silver.

The company has a number of projects in North America and recently announced high-grade drilling results from its Hasaga gold property in Ontario.

It also has a 40% stake in the producing South Arturo gold project in Nevada which is majority owned and operated by Barrick Gold (CN:ABX).

Premier had $137.6 million cash at the end of the September quarter.

Its shares hit C$3.67 intraday but eased to close up 1.99% at $3.59.