Premier holds a 100% interest in the Cove Property, which hosts one of the highest grade undeveloped gold deposit in Nevada. Cove was mined by Echo Bay Mines Ltd. (Echo Bay) between 1987 and 2001, and produced 2.6 million ounces of gold and 100 million ounces of silver.McCoy was mined between 1986 and 2001, and produced approximately 0.88 million ounces of gold and 3.0 million ounces of silver.
On March 21st, 2017 Premier tabled an updated mineral resource estimate (click here for press release) of 614,000 t @11.57 g/t Au for 228,000 ozs Au in the Indicated category and 3,378,000 t @ 12.17 g/t for 1,322,000 ozs Au Inferred.
Cove will be a focus for Premier in 2018, garnering the largest exploration/development budget in the Company. The goal for the year will be to test extensions of existing zones and new prospective targets on the property as well as to build upon the recently announced mineral resource estimate by completing initial metallurgy and hydrology studies. Concurrently, Premier is working towards the goal of tabling an initial Preliminary Economic Assessment (PEA) mid-year as well as begin driving a ramp into the Helen Zone for a bulk sample and further delineation of and expanding on the current deposits.
The Cove Property benefits from significant historic geological datasets, local and regional networks that include its proximity to paved highways, electric power and pre-existing mining infrastructure. Premier has developed strong relationships within local communities including the Town of Battle Mountain, which provides important manpower and services to the Property and serves as the location of its regional office. Management believes Nevada’s rich mining past is indicative of its current discovery potential and that McCoy-Cove will play a significant role in creating Premier’s future successes.