by Ewan Downie
We have always viewed our McCoy-Cove asset as a cornerstone property within our exploration portfolio. Today’s press release profiling our updated mineral resource estimate at McCoy-Cove is validating our confidence that this property still has tremendous potential for future production. Indeed, our patience has been rewarded.
With this updated resource, McCoy-Cove now ranks amongst the most significant exploration successes in recent memory in Nevada. Inferred resources have increased nearly 400% since our last update in 2013, including an increase in grade of some 25%. This is the result of excellent work by our on-site and technical team and confirms the potential of this emerging high-grade development opportunity. Exploration targets at both Windy Point and the Deep IP geophysical anomaly (between the Cove and McCoy pits) remain to be adequately tested.
We have committed to completing our first pump test that will be used to validate our hydrology model during the third quarter as well as completing a PEA during the latter half of 2017. These are all pieces to the story that must be better understood. That being said, our confidence has never been higher. We firmly believe there is an opportunity to further increase mineral resources once we are in a position to initiate in-fill diamond drilling from an underground platform. Poor surface access to drill test extensions of mineralization to the east of the CSD Gap are an example of this.
This is the second +1 million ounce mineral resource estimate Premier is delivering to its shareholder’s in little over two months. We completed a Feasibility Study in October and reported a potentially significant high-grade discovery at Hasaga just three weeks ago. Oh yeah, did I mention our 15% to 20% production growth expected in 2017?
We are never standing still. You know us better than that.Thank-you all for you kind words and continuing interest in Premier at our PDAC Investor’s Forum and Core Shack recently.