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 operations. Additional exploration activity on the property will focus on selected follow-up drilling at the Deep IP and McCoy targets as well as collection of drill and metallurgical data from the property’s historic heap leach pads to further ongoing scoping efforts for a potential reprocessing scenario. Over a 17 year period, the McCoy and Cove open pits produced a combined total of 3.3 million ounces of Au and 110+ million ounces of Ag, a portion of which was oxide and may be amenable to a re-heaping scenario.
We believe McCoy-Cove has tremendous potential to host significant future mineral resources and reserves. Our 2016 Helen Zone program is designed to give us the confidence to make future investments at McCoy-Cove that may result in our goal of a second producing asset in Nevada being realized.