Monday, April 26, 2010

Goldstone Resources: Premier expands NN Zone mineralization at Hardrock including 22.97 g/t Au across 24.8 metres,, GG, NEM, ABX, FCX,

Premier Gold delivers another set of very impressive results in this Canadian Gold discovery play. Resources will have a nice boost later this year with this kind of intercepts! Stock is due to rebound on the technicals above.

Premier expands NN Zone mineralization at Hardrock including 22.97 g/t Au across 24.8 metres

April 26 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG - News) is pleased to announce that drilling continues to expand near-surface mineralization at the Hardrock Project in Northwestern Ontario. Current drilling is targeting both open pit and underground style zones with the 2010 program aimed at increasing the current gold resource. Recent expansion drilling in the NN Zone has returned some of the best intersections to-date in this horizon including:
- 22.97 grams per tonne gold (g/t Au) across 24.8 metres (m) (0.67 oz/ton across 81.4 feet) contained within 43.3 m grading 13.42 g/t Au (0.39 oz/ton across 143.0 feet) in hole MM117
- 7.87 g/t Au across 19.8 m (or 0.23 oz/ton across 65.0 feet) in hole MM105
- 2.20 g/t Au across 41.4 m (0.06 oz/ton across 135.8 feet) in hole MM113
- 2.25 g/t Au across 24.5 m (0.07 oz/ton across 80.4 feet) in hole MM099
- High Grade intercepts up to 164.36 g/t Au across 3.3 m (4.80 oz/ton across 10.8 feet)
Drilling in the NN Zone continues to expand mineralization up-dip,down-dip and along strike. Mineralization in the main pit area, which includesthe NN and EP Zones, has now been defined over a strike length of some 1.4kilometres and remains open to the west. The NN Zone has the potential to hostsignificant open-pit and underground style resources as further demonstratedby previously released intersections that include 6.42g/t Au across 22.4m(0.24 oz/ton across 73.5 feet) in hole MM040, 39.15g/t Au across 3.6m (1.14oz/ton across 11.8 feet) in hole MM048 and 6.91 g/t Au across 18.7 m (0.20oz/ton across 61.4 feet) in hole MM074.
"Drilling in the NN Zone continues to intersect some of the highest grade near-surface mineralization on the Property that could be mined by open pit methods in the early stages of potential operations at Hardrock," stated Ewan Downie, President of Premier. "These results bolster the significant resources already defined on the Property and demonstrate the excellent potential to materially increase resources in 2010".
The NN Zone is one of several potential open pit zones that comprise the "Main Area" at Hardrock that was subject to a NI43-101 compliant resource announced earlier in 2010. The expected future addition of the Kailey deposit, which is separate from the Main Area, and the current expansion drilling in the NN Zone continues to suggest the potential for the Hardrock Project to host a multi-million ounce gold resource.
The current drilling is focused on defining and expanding the limits of a large mineralized system within the NN Zone area of the Northern Iron Formation with two drill rigs. The plunge of the NN Zone is shallow to the west and it remains open for expansion. Recent drilling down dip continues to confirm wide zones of mineralization within the NN Zone. New drill results from the NN Zone are contained in Table 1.
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