Premier Gold Mines (PG.TO) has released a first batch of results from an ongoing 36,000 meter drill program to convert the inferred ounces to the indicated status at the Hardrock project in Ontario, Canada. Approximately 25% of the drill program has been completed and the results are very encouraging as the new drill results are comparable to the width and grade of the previously intersected mineralization. The results of this drill program will be used for an updated resource calculation and this will be the first step before completing a feasibility study in the first half of next year.
With C$56.5M in working capital, Premier Gold is in an excellent position to aggressively advance its Hardrock project in Ontario and the Cove project in Nevada.
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Disclosure: The author holds no position in Premier Gold Mines. Please see our disclaimer for current positions.
