$15m gold exploration plan by Premier Gold

January 09, 2009

Commodity Online
NEW DELHI: Buoyed over the prospect of gold business in the coming year following the equity market collapse, several gold mining companies are reviving their plans to expand business.

As part of this strategy, Canadian-based Premier Gold Mines has announced that it is planning to spend $15 million on exploration this year.

The company has unveiled its 2009 exploration plan and claimed that it intends to continue to define its advanced gold prospects in north-west Ontario.

Premier Gold exploration plans for 2009 include major drilling programmes at the Hardrock, Rahill-Bonanza and PQ-North properties in north-western Ontario and resource definition drilling at its Hardrock and Red Lake gold projects.

The company revealed that more than 50,000m of drilling is planned at the Hardrock joint venture project with Roxmark Mines in early January.

A delineation drill programme will be conducted at the Rahill-Bonanza joint venture project with Red Lake Gold Mining in the prolific Red Lake district and a letter of intent has been signed with the North Caribou Lake First Nation to commence a major exploration programme on the PQ North property.

Premier Gold is focused primarily on discovering and developing gold deposits, particularly in Red Lake, Ontario.

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