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Premier gains as second-phase Hardrock drilling starts

Premier Gold's share price got a nice lift Wednesday after its 50-50 joint venture with Centerra Gold, Greenstone Gold Mines, announced the start of new core and reverse circulation drilling at Hardrock in Ontario.
Premier gains as second-phase Hardrock drilling starts Premier gains as second-phase Hardrock drilling starts Premier gains as second-phase Hardrock drilling starts Premier gains as second-phase Hardrock drilling starts Premier gains as second-phase Hardrock drilling starts

A second phase of drilling has started at Greenstone Gold Mines' Hardrock project in Ontario

Staff Reporter

Government approval for the Hardrock project came through in March. Greenstone proposes development of an openpit mine that could produce on average 300,000oz/y over a 14.5-year mine life.

Greenstone has four claim groups including Hardrock, Brookbank, Key Lake and Viper along, or close to the Trans-Canada Highway, between Beardmore and Longlac, about 275km north-east of Thunder Bay.

The new drilling forms the second phase of a plan launched last year to validate and de-risk a 2016 feasibility study block model. More than 50 core and 75 RC holes totalling 12,900m and 7,000m, respectively, are expected to be completed by late April, with reconciliation of the results and integration of the data into a final resource model slated for completion by June.

Premier said it expected to report the final results of the updated resource block model during the September quarter.

Premier (TSX:PG) gained 9% or C14c in Toronto Wednesday to $1.75, capitalising it at $368.25 million. The stock has gained about 5% since January. Centerra (TSX:CG) closed nearly 1% lower at $7.31, capitalising it at $2.13 billion. It has gained 27% since January 1.