Premier expands gold mineralization at Hasaga Red Lake

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THUNDER BAY, ON, Sept. 15, 2015 /CNW/ - Premier Gold Mines Ltd. (TSX-PG) is pleased to provide a further update from ongoing surface drilling at the Company's 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario.  Drilling continues to expand mineralization in both the Central Zone and the Hasaga Porphyry with highlight results that include assays of up to 1.06 grams per tonne gold (g/t Au) across 93.0 metres (m) (Central Zone) and 1.19 g/t Au across 107.0 m (Hasaga Porphyry). 

Hasaga is host to the past-producing Hasaga and Gold Shore Mines and is strategically-located proximal to the Balmer-Confederation unconformity, recognized as an important geologic feature at the multi-million ounce past and currently producing Red Lake area mines.  Premier believes that Hasaga and Gold Shore, underground mines that ceased production in the early 1950's, have the potential to host gold mineralization that may be amenable to open pit mining methods in addition to higher grade underground mineable mineralization.  Current drill targets include the "Hasaga Porphyry Zone", testing the porphyry rock unit that hosts the past-producing Hasaga and Howey Gold Mines, where in excess of 600,000 ounces of gold was produced by underground mining methods, and the "Central Zone" where drilling has delineated widespread gold mineralization in the Dome Stock granodiorite.

Table 1 provides a more comprehensive summary of results from five additional holes drilled at the Central Zone target which is considered open to the east and north.  Table 2 provides a summary of recent holes completed in the Hasaga Porphyry.

Highlights from holes with completed assays in the Central Zone and Hasaga Porphyry targets include:

Central Zone (reporting holes HLD009-013)

• HLD009 – 1.28 g/t Au over 14.0 m and 1.64 g/t Au over 56.0 m.
• HLD011 – 1.25 g/t Au over 50.8 m and 0.79 g/t Au over 172.5 m.
• HLD012 – 1.06 g/t Au over 93.0 m and 1.04 g/t Au over 10.0 m.

Hasaga Porphyry (reporting holes HMP024-037)

• HMP024 – 1.19 g/t Au over 107.0 m including 23.34 g/t Au over 3.0 m.
• HMP029 – 1.02 g/t Au over 48.0 m and 0.98 g/t Au over 24.0 m.
• HMP031 – 1.09 g/t Au over 40.0 m and 0.71 g/t Au over 21.0 m.
• HMP037 – 1.11 g/t Au over 87.0 m and 0.66 g/t Au over 29.0 m.

Central Zone drilling is currently on the nineteenth (19th) hole of the program and Hasaga Porphyry drilling is currently on the 58th hole.  Widespread, disseminated mineralization has been noted in all holes and additional assays will be released upon receipt.

Table 1 – Highlight assay results from the Central Zone

The Hasaga Project covers 677 hectares beside the Town of Red Lake.  The Property is located along a regional unconformity that hosts multiple historic mines including Hasaga, Howey and Madsen.  The current Phase 1 drill program has been increased to in excess of 40,000 metres of drilling to test both the Hasaga Porphyry Zone and the Central Zone targets.  Figure 1 is a surface plan view of the Central Zone drilling and highlights the widespread gold mineralization recently identified.

The Central Zone Target encompasses a series of conjugate structures occurring within the Dome Stock, a large granitic intrusive unit in the heart of the Red Lake camp.  A historic hole drilled in the target area by Lac Minerals in the 1980's reporting widespread mineralization (HRL87-05, 0.75 g/t Au/218.0m) was never followed up until the current program. The Dome and nearby McKenzie stocks are host to several mines having historic gold production exceeding 1,000,000 ounces

"Drilling to date suggests persistent near surface gold mineralization is widespread at Hasaga.  In the Central Zone, we have intersected characteristic alteration and mineralization in every hole drilled and the target horizon remains open for expansion." stated Stephen McGibbon, Executive Vice-President of Premier on the Company's C-Suite Blog (See http://www.premiergoldmines.com/news/c-suite-blog )  "The Hasaga Porphyry drilling to the south also supports our model for open pit-style gold mineralization with local high-grade sections being noted."

Table 2 – Highlight assay results from the Hasaga Porphyry

Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.  Assay results are from core samples sent to either Accurassay Laboratories or Activation Labs, both accredited mineral analysis laboratories in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods. 

Premier Gold Mines Limited is one of North America's leading exploration and development companies with a high-quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States.  The Company is well financed with approximately $80 million in cash and investments and a portfolio of advanced-stage assets in world class gold mining districts such as Red Lake and Geraldton in Ontario and the most prolific gold trends in Nevada.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

SOURCE Premier Gold Mines Ltd.