by Chad Peters
Today’s release highlights a busy first quarter for the exploration team at McCoy-Cove. Drilling continues to improve our understanding of the McCoy-Cove deposit and demonstrates the potential to expand the resource in the vicinity of the main resource areas and in the other new target horizons on the property. Our work at McCoy-Cove has resulted in the delineation of a new high-grade deposit in Nevada.
Our exploration team is very excited about the recent resource update but we aren’t sitting back and letting the engineers take over just yet. We believe significant exploration potential remains across the property and by using the updated geologic model as a guide we have identified multiple targets both on trend and proximal to the known resource, which are currently being tested. The Windy Point target, located 0.75km northwest of the Helen zone, has our team especially excited as the target horizon is projected along the same anticline trend as the Cove area deposits. Historic drilling in the area is highlighted by narrow intercepts of up to 9.0 g/t Au within a broad halo of decarbonatization, low grade Au-Ag and Carlin-style trace elements throughout the same host rocks found almost a kilometer away at Cove. Drill hole PG17-13 was Premier’s first core hole testing the Windy Point target at depth where it intersected arguably the most pervasive decarbonatization we’ve drilled to date on the property highlighted by 200m of 0.65 g/t Au and 0.31 Ag including 1.8m of 7.11 g/t Au and 0.25 g/t Ag. It’s been a rough winter down here but the roads are drying up and we hope to have a rig turning at Windy Point again in the near future as we step-out along strike of known mineralization in hopes of identifying high grade Au along the Windy Point trend.