Premier holds a 40% interest in the South Arturo Property
with Barrick Gold Corporation owning the remaining 60%. The South Arturo
Deposit is located on the historic Dee mining claims approximately 25 miles
northwest of the town of Carlin, in Elko County, Nevada. The South Arturo
Property is within the Bootstrap mining district at the northern area of the
Carlin Trend. The Bootstrap mining district includes the Tara, Bootstrap,
Capstone, Dee and Storm gold mines.
Premier is now partnered with a highly-skilled operator in
the production of a gold and silver property that has significant leverage to
future increases in the price of these precious metals. South Arturo provides
potential for open pit production that could extend over 8 to 9-year period
with underground mining opportunity as a further upside. The mineralized
material from South Arturo will be trucked primarily to Barrick's Goldstrike
Mine for processing.
Along with the continued mining and processing of the Phase
2 open pit in 2017, the focus for the year will be to support permitting for
the El Nino underground mine, which is expected to be development from the
bottom of the Phase 2 pit.
For 2017, operational
guidance at the mine is 40,000 to 45,000 ozs
Au at cash cost of US$440 - $470/ oz Au and all-in sustaining costs of
US$450 - $480/oz Au. (Click
here for 2017 company guidance press release).