by Ewan Downie
Announcing our Third Quarter production results is a milestone event for Premier being the first gold production in Company history. Initial production from South Arturo exceeded guidance by more than 50% and we are on target for company-wide guidance, including production from the Mercedes Mine, of more than 100,000 ounces of gold for 2016.
We are extremely pleased with the performance achieved to date by Barrick, the operator of our joint venture at South Arturo. As I have said many times in the past, Barrick’s ability to deliver this project on schedule and under budget confirms their world-class miner status. Premier is benefiting from Barrick’s companywide cost savings program coupled with the skill-set of their Goldstrike team to materially reduce costs.
South Arturo is one of the highest grade open pit operations brought into production in 2016 and based on the strong initial performance achieved, we remain on track to meet or exceed our production guidance for the year. Assuming this rate of production and current gold price levels, we expect to hav… Read More...
by Stephen McGibbon
Today we have released a series of recent drilling results focussed on the Buffalo Mine target area located at the southwest corner of our Hasaga property. The initial results at Buffalo have given us confidence to extent the drilling program. A limited number of well-placed holes will help validate the historic drilling results and further assess exploration potential at this target area. It’s our view that the work completed at the Buffalo target by Wilanour Resources in the early 1980’s was incomplete and needed to be updated and expanded given the current gold price resurgence in Canada since 2015.
Our exploration program has benefitted from weather conditions that have been ideal for the work we had planned this summer. This work has included a significant amount of outcrop stripping, mapping and channel sampling. To date, some 45,000 metres of diamond drilling has been completed at Hasaga, testing our three primary target areas (Central Zone, Hasaga Porphyry and Buffalo) as well as closer-spaced drilling to better understand potential continuity of higher grad… Read More...
by Chad Peters
We are roughly half-way through our 2016 drilling program and the results continue to impress! The CSD Gap is characterized by high grade intercepts with exceptional continuity as we infill the Gap horizon towards the Helen Zone to the northwest. Our team is hopeful this run of solid results will continue. In an effort to improve our chances, Premier geologists are stacking the deck a little bit in our favour by utilizing oriented core tooling for both of our drill rigs. The orientation tool is a two-piece unit which includes a receiver threaded onto the drill’s existing core tube, which is then paired with a digital controller operated by the drill crew at surface. The result is a highly accurate method of recording the true orientation of the core sample while it’s being drilled. This allows our geologists to document the exact strike and dip of any structure, bedding plane or linear feature noted during the logging process. As a result, our ability to interpret structural variations in the geologic model has increased dramatically as well as improved targeting efforts acro… Read More...
by Ewan Downie
Milestones are very important to me as they serve as an opportunity to reflect on the past and contemplate the future. Almost ten years to the day, Premier’s shares were listed for trading on the TSX Exchange. It is with great pride that we have celebrated this landmark event with the Company’s first ever gold pour. The past ten years have seen Premier navigate through a myriad of market conditions that have been both a catalyst for growth and a minefield of risk. We have seen many peer companies fall victim to bad timing, aggressive planning and inadequate technical evaluation. The marketplace has been unforgiving. Our guiding light has always been our focus on PROVEN MANAGEMENT, WORLD-CLASS DISTRICTS, SAFE JURISDICTIONS and SENSIBLE PARTNERSHIPS. They have served us well.
Looking to the future, Premier has a vision to transform from explorer to mid-tier producer operating in world-class mining jurisdictions. We are well on our way to achieving that goal. South Arturo, the recently announced acquisition of the Mercedes Mine, and advancing our best-in-class project p… Read More...
by Charlie Ronkos
Having spent many years working with Premier as a joint venture partner, I’ve always enjoyed watching this management team creatively navigate and grow their business in seemingly any market environment. It is uncommon for a junior exploration company to find and grow one economic deposit and rarely do they make the transition into a producing entity. The team here as done both. It will be an exciting opportunity to work with a new growth oriented company with a high quality exploration pipeline like Premier.
I am eager to contribute the knowledge and experience I have gained in my career to help Premier continue this growth trajectory as it transforms into a producer. In particular, my previous experience in project development in Mexico and South America will aid in the smooth transition of the Mercedes Mine and help grow our presence in the area. I look forward to the closing of this deal and focusing on finding the future ounces of the project.
by Ewan Downie
South Arturo is the first producing asset in Premier’s portfolio. It is gratifying to think how Premier has evolved since its inception as single asset exploration company with a joint venture in Red Lake, to having a pipeline of projects in various stages of exploration and development and now production. This growth is a testament to this Company’s management and employees’ dedication and hard work to execute a simple strategy and vision.
During the due diligence of South Arturo in the winter of 2015, we were impressed by the professionalism of the team at the Goldstrike operation and felt that this project would be a technically de-risked opportunity for Premier to transition into a gold producer. Fast forwarding to today, we are extremely pleased with Barrick’s ability to deliver this project on schedule and budget. Their performance to-date confirms their world-class miner status.This initial phase of mining is expected to contribute 155,000 ounces of gold to Premier’s account over the later portion of 2016 and 2017. The management team is headi… Read More...
by Ewan Downie
Today Premier has announced the acquisition of the Mercedes Mine, in the State of Sonora, Mexico, from Yamana Gold. The acquisition of the Mercedes Mine is a compelling and transformative transaction. Our corporate development team has been conducting due diligence on a number of opportunities over the last 18 months. We have been very disciplined in our approach and review of each opportunity.
We regard the acquisition of Mercedes, our first 100%-owned operating mine, as an important bridge between current gold production at South Arturo in Nevada and potential future production from our Hardrock asset in Northern Ontario. It establishes Premier as a diversified gold producer with an attractive production growth profile and significant exploration prospects within world-class and mine-friendly jurisdictions. It is an appropriate and exciting “next step” in our transformation.
We are attracted not only by the exploration potential that exists on the property that exceeds 60,000 hectares in size and by the impressive transformation the operation has undergon… Read More...
by Chad Peters
This morning we released some pretty exciting drill intercepts from the ongoing drill program targeting the CSD Gap horizon between the Helen and historic CSD underground deposits. The impressive thickness and high-grade results demonstrated by initial infill drilling of the CSD Gap horizon highlight the potential to significantly add to the resources at McCoy-Cove. As a result we recently added a second core rig to expedite the CSD Gap program. It’s an exciting time at McCoy-Cove and we hope today’s results are just an indication of what’s to come over the summer season.
When I first began working at McCoy-Cove it was a big change from our Canadian projects such as Hardrock, where it was hard to miss the visible gold in core. Carlin-type deposits are a little more subtle and characterized by pervasive decalcification/decarbonatization of carbonate host rocks, resulting in the textures seen in the core photo of PG16-06 (http://www.premiergoldmines.com/our-pro… Read More...
by Stephen McGibbon
Our update on the Helen – CSD drill program released some pretty exciting drill intercepts today. The continued success from drilling in our current program demonstrates the potential to delineate significant high grade gold and silver mineralization at McCoy-Cove. We hope it is just an indication of what is to come over the summer season.Sometimes, however, the most exciting part of an exploration program is what goes on behind the scenes and McCoy-Cove is no exception.
When we purchased the McCoy portion of the property from Newmont Mining a few years ago, a considerable portion of the property dataset existed in paper form only. Our team (click here) has been working steadily on a detailed compilation to ensure the entire dataset is being migrated over to a digital mirror of the paper copy; we are about one month away from that job being complete and are already using the updated dataset to aid in 3D modeling and targeting activities.Management continues to view the McCoy-Cove Property as a cornerstone asset within the Company’s portfolio and is aggressively pursui… Read More...
by Ewan Downie
Sensible partnerships; they have been important to us. Today’s press release announcing Premier’s recently confirmed Senior Technical Advisors, Charlie Ronkos and Peter Mah, is really just an extension of that thinking.Together, Charlie and Peter have very complementary skill sets and Premier is fortunate that they have chosen to direct those skills in support of Premier’s vision for growth. We have had the pleasure of working with Peter and Charlie in previous roles and we look forward to their valuable contributions as we continue to grow Premier through successful exploration and acquisitions and working alongside our valued project partners.
Peter has extensive experience in Northwestern Ontario at Goldcorp’s Red Lake operations (previously the Campbell and Red Lake Mines) as well as at Musselwhite. He developed the successful application of underhand cut and fill mining in Red Lake and was Mine General Manager at the Victor diamond mine as well. He has a great story about a soft ice cream machine called “Nameplate” that played a role in Victor reaching i… Read More...
by Ewan Downie
Today’s South Arturo update comes on the heels of our second joint venture meeting with Barrick Gold in 2016.
The update from Barrick focussed on several items including confirmation that we are on track to begin ore production during Q3. Our production guidance of 80,000 ounces of gold in 2016 remains unchanged. During the quarter we did see that we were under budget in several areas, allowing the mining costs to be reduced to US$1.33 per ton, a more than 6% reduction versus the target cost established in the budget.
We are looking forward to the start of our Minex program in June, which will again focus on upgrading our confidence in the El Nino Project. The El Nino Project has the potential to extend the mining life of the Phase 2 open pit program by continuing with underground mining from the bottom of the phase 2 pit. There is much work to be done to confirm the veracity of this project, but it all starts with drilling and our confidence in the mineralization.
Additionally, Barrick is continuing to assess the potential for open pit mining at the Dee… Read More...
by Stephen McGibbon
Our winter drilling campaign at Hasaga was completed on May 1st. In all, some 25,000 metres of drilling was completed in 68 holes, including three wedges. We anticipate taking a one month hiatus from drilling at Hasaga, but that doesn’t mean our team won’t be busy. We are already relogging portions of some holes to ensure the continuity of geology and alteration logging. Additional resampling will be undertaken as well as our ongoing QAQC analysis.
The results reported today are more evidence of the widespread mineralization we are identifying at Hasaga. Our focus in today’s press release is on the Hasaga Porphyry target only. An upcoming press release, likely in May as well, will report final winter results on each of the target areas that we have been evaluating.
The highlight results coming from HMP103 are particularly encouraging to us as they represent the first results being reported from drilling onto the new “Buffalo” portion of the Hasaga project. The Buffalo trend we portray in Figure 1 of the release represents a conceptual extens… Read More...
by Chad Peters
Today’s press release highlights the beginning of Premier’s 2016 exploration program at McCoy-Cove. The primary focus for 2016 will be to confirm continuity between the Helen and CSD zones, both of which are Carlin-type Au-Ag deposits hosted within the Home Station and Favret carbonate rock units. Initial drilling will step to the NW of Premier’s high grade PG-01 intercepts located on the NW edge of the CSD zone, with 2014 highlights that included 28.05 g/t Au and 15.81 g/t Ag across 4.5m and 3.74 g/t Au and 718.72 g/t Ag across 5.0m. The 2016 budget of $6.0M CAD ($4.5M US) will consist of approximately 10,000m (or 32,800 ft.) of drilling, which will allow our team to continue stepping out to the NW to infill this highly prospective 365m gap between the CSD and Helen Zones to support a planned 2017 property wide resource update. This resource update, combined with a 2016 baseline metallurgy program will complement Premier’s ongoing scoping activities assessing the potential to pursue advanced exploration utilizing the permitted Cove-Helen underground plan of operat… Read More...
by Ewan Downie
Today’s press release is the first significant release of new drill results coming from our 2016 winter program. We have been focussing on our three targets areas at the Central Zone, Hasaga Porphry and North Gate with three active drills. During the first quarter we took advantage of our ideal winter drilling conditions to complete some 17,000 metres of drilling in 49 holes. We will continue drilling at the same pace until spring conditions dictate otherwise, prior to a drilling shutdown. We will use the short drilling break to update our internal mineral inventory and litho-structural models prior to reassessing where our priorities will focus during the summer season.
Each of our primary target areas has generated solid results during our winter campaign. We continue to see widespread mineralization at the Central Zone as evidenced by HLD052 (1.09 g/t Au across 177.0m) and HLD044 (0.78 g/t Au across 209.0m), however, there is not yet sufficient density of data to confidently project the geometry and continuity of any higher grade internal component. Some insight ca… Read More...
by Matthew Gollat
As we near the end of the coldest months of winter, I think nothing signals that spring is nearby better than the annual Prospectors and Developers Convention (PDAC). The excitement that surrounds these four days of learning of new discoveries and the next projects to be developed, overprinted with late nights speculating the next M&A transaction and the state of the financial markets for years to come is invigorating.
This year, Premier has the privilege of hosting a Core Shack and a Booth at the Investors Exchange, giving ample opportunity to discuss all catalysts that the Company has for the year to come.
Mining at South Arturo Phase 2 in 2016 marks Premier’s initial gold production after nearly 10 years exploring and developing its portfolio of assets. If you haven’t had a chance to speak with someone at the Company about this, you will find that their excitement is hard to conceal. Further work is being completed on evaluating Phases 1 and 3 as well as the underground opportunity under the Phase 2 pit.
At Trans-Canada, the Hardrock Feasibil… Read More...
by Stephen McGibbon
Today’s press release of remaining assays from our 2015 exploration program at Hasaga continue to support our original vision for this property. We have high expectations for our follow-up program at Hasaga this year and hope that it culminates in our reporting a maiden mineral resource estimate late in the year or early in 2017.
I think it’s instructive to take a moment to step back and look at the world from a wider perspective. Our sector continues to impacted by negative sentiment that began in late 2012. This sentiment has made raising risk capital difficult for many. It has also reduced the market capitalization of many very early to mid-stage exploration and development companies. One area where I believe Premier differentiates itself from many companies our size is the longer term view we have of our sector and the patience we exercise as a result. We have a diversified basket of exploration and development assets that has been accumulated over time, in markets such as this.
Right now we are benefitting from a strong gold price (in Canadian dollar … Read More...
by Chad Peters
This is my first opportunity to comment on the C-Suite Blog. Hopefully with ongoing exploration success at McCoy-Cove, it won’t be my last.
McCoy-Cove has continuously evolved since Premier’s acquisition in 2012. What began as a Carlin-type exploration play at the Helen Zone has emerged as an advanced exploration project with multiple open-pit and underground opportunities. Testing both new and previously underexplored targets on the property has consolidated our geologic model and produced multiple high grade discoveries beneath the historic McCoy and Cove open pits. This confirms Premier’s belief that significant exploration potential still exists and that the McCoy and Cove deposits are best explored as one genetically-linked mineralized system.
Intercepts from the 2015 drilling program highlight the potential size of the McCoy-Cove system and demonstrate our confidence to expand high grade gold and silver mineralization within the UPC, Deep IP and McCoy Thrust target horizons. Drilling successfully confirmed in-situ mineralization at McCoy and is highligh… Read More...
by John Begeman
This is the first opportunity I have taken to participate on our C-Suite Blog.
Today Premier released an update of highlight results from our various programs in 2015 and is also providing initial guidance with respect to activity and expectations in 2016. I find this time of year is always particularly exciting. After the usual short break that comes with the holiday season, this time of year always begins with a positive re-invigorated outlook.
We at Premier regard 2015 as a successful and transformational year that resulted in significant agreements, new partnerships, exploration success and value creation for all shareholders. This is an opportune time to recognize the significant contribution that has been made by our project teams and support personnel in Ontario and Nevada. I am proud of the efforts of the entire Premier team. So often, success comes as a result of the efforts of those whose work behind the scenes may not be obvious to many. We value the commitment our teams and their families have made, and appreciate the support we get from the communi… Read More...