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 terms) that has largely been in place for most of the last ten years (See link to gold price). The price trend since the beginning of 2014 has been positive, and our commitment to keep world-class Canadian gold districts a part of that basket has been an important one. We remain very positive on the prospects of our Canadian properties, in part because of the encouraging gold price environment.
Hasaga will be our largest exploration program again in 2016. Our team will commence drilling on January 28th, following a planning workshop in Thunder Bay. Winter has its grip on the Red Lake area, and the next two and half months will provide us an opportunity to drill in areas that are otherwise much more difficult during warmer times of the year. We will begin our program by extending hole HNG010, which reported an intriguing higher grade intercept (57.65 g/t Au over 2.0m) that occurred within three metres of the end of the original hole. We may follow that up with a wedge off that hole to test the variability of that mineralization a short distance from the original intercept.
There is much work to do in Red Lake in 2016. Like our program at McCoy-Cove, it will include drilling, “boots-on-the-ground” mapping and sampling, and preliminary metallurgical profiling.
Let’s get rolling!