EXPLORATION & DEVELOPMENT

Premier points to potential mine expansion

Hits 21.95m at 36.95g/t gold and 171.3g/t silver at Mercedes

Staff reporter
Underground drilling intercepts high-grade mineralisation at Mercedes

Underground drilling intercepts high-grade mineralisation at Mercedes

Highlights from underground drilling at the Rey de Oro deposit included 21.95m at 36.65g/t gold and 171.3g/t silver; and 20.5m at 8.1g/t gold and 121.32g/t silver.

The company said the results included some of the widest vein intercepts on the property, proximal to recently constructed mine workings.

"These initial intercepts suggest a zone with grades well in excess of the current reserve grade at Mercedes," executive vice president Charlie Ronkos said.

The company said additional drills were being mobilised to Rey de Oro and as part of an ongoing 40,000m surface and underground programme at Mercedes. 

Premier's total 2018 exploration/development budget of US$93 million was more than 50% funded by partners, the company said.

It produced 16,007 ounces of gold and 51,746oz of silver in the June quarter and increased its 2018 consolidated production guidance from 85,000-95,000-oz of gold to 90,000-100,000oz, due to higher than expected first half production at the South Arturo joint venture with Barrick Gold in Nevada.

Premier Gold shares hit a 52-week low last week of C$2.40 and closed up 2c on Friday to $2.50, capitalising it at $506.5 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.