The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Premier confirms filing of Trans-Canada Property NI43-101 Technical Report

Monday, February 04, 2013

Premier confirms filing of Trans-Canada Property NI43-101 Technical Report09:59 EST Monday, February 04, 2013Shares Issued: 149,072,712THUNDER BAY, ON, Feb. 4, 2013 /CNW/ - PREMIER GOLD MINES LIMITED ("Premier" or "The Company") (TSX:PG) is pleased to announce that it has filed a technical report ("Report") for the recently completed mineral resource estimates (press release dated December 19, 2012) on four gold deposits located on the Company's 100%-owned Trans-Canada Property including the Hardrock, Brookbank, Kailey and Key Lake Deposits.  This Report has been prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 and may be found on the Company website or under the Company's profile at of the 2012 resource estimates summarized in Table 1 include:Measured and Indicated resources of 4.12M ounces of goldInferred resources of 3.65M ounces of goldMultiple deposits remain open for expansion and are the subject of ongoing drillingNew gold zones have recently been discovered, offering further upsideThe independent Report, dated January 30, 2013, entitled "Technical Report on the Mineral Resource Estimates for the Hardrock, Brookbank and Key Lake Projects" was issued by Micon International Limited. The Report provides detail to the disclosure contained in the Company's news release issued on December 19, 2012.Table 1   Trans-Canada Property Resources SummaryDepositCut-off CategoryResource CategoryTonnes (Mt)Gold (Au) Grade (g/t)Au Ounces (000's) Open PitMeasured (M)12.7371.41576  Indicated (I)33.921.551,685  Subtotal M & I46.6571.512,261Hardrock Inferred6.6151.74370 UndergroundMeasured (M)0.3155.8460  Indicated (I)4.735.42829  Subtotal M & I5.0455.48889  Inferred16.0095.913,040 Open PitMeasured (M)0 0  Indicated (I)2.6382.01171  Subtotal M & I2.6382.02171Brookbank Inferred0.1712.3813 UndergroundMeasured (M)0 0  Indicated (I)1.8517.21429  Subtotal M & I1.8517.21429  Inferred0.4034.0253 Open PitMeasured (M)4.0521.06139  Indicated (I)4.5780.86126  Subtotal M & I8.6300.95265Kailey Inferred3.6880.97115 UndergroundMeasured (M)0 0  Indicated (I)0 0  Subtotal M & I0 0  Inferred0 0 Open PitMeasured (M)0 0  Indicated (I)2.5721.1797  Subtotal M & I2.5721.1797Key Lake Inferred1.3451.2956 UndergroundMeasured (M)0 0  Indicated (I)0.0316.486  Subtotal M & I0.0316.486  Inferred0.0583.577 Open PitTotal M & I60.4971.442,794Combined Total Inferred11.8191.46554DepositsUndergroundTotal M & I6.9275.941,324  Total Inferred16.475.853,100The Hardrock Project, which includes both the Hardrock and Kailey Deposits, is located 3 kilometres south of the town of Geraldton on the Trans-Canada Highway.  The project, which resides on patented claims, is permitted for dewatering and advanced exploration and benefits from substantial infrastructure including highways and roads, and power.  During 2013, the Company has planned a continued drill campaign and is working on preliminary mine modeling concepts for the Brookbank and Hardrock deposits in advance of a planned PEA.Premier continues to strengthen its operating team as it implements the Company's strategy of becoming a gold producer. In the past 12 months Premier has made several key management additions including Mr. Ebe Scherkus as Director and Chairman, Paul-Henri Girard as Senior Mining Advisor, Eric Lamontagne as Manager, Development Projects, and Claude Lemasson as Director. Premier is well-financed to advance its project portfolio with a treasury of cash and securities that exceeds $150 million.Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.Premier Gold Mines Limited is one of North America's leading exploration and development companies with a high-quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States.  The Company's portfolio includes significant assets in world class gold mining districts such as Red Lake, Musselwhite and Geraldton in Ontario and the most prolific gold trends in Nevada.The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company's expectations and projections.  SOURCE: Premier Gold Mines LimitedFor further information: Ewan Downie, President & CEO               Phone: 807-346-1390                      Fax: 807-346-0100 e-mail:  Web Site: