Premier Gold Mines Provides 2018 Exploration Review
January 21, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Premier Gold Mines Limited (“Premier”) of that company’s 2018 exploration review. Premier is the operator of the Mercedes gold-silver mine located in State of Sonora in northern Mexico, on which Elemental Royalties holds a 1% NSR royalty subject to a production hurdle.
Following the release of the 2018 exploration review by Premier, covering each of that company’s assets, Elemental is pleased to note that exploration at Mercedes was focused on the expansion of high-grade, near-infrastructure targets that may be upgraded to mineral resources and mineral reserves while also supporting the development of new deposits to increase mining flexibility and productivity. To this end Premier drilled 280 holes representing 40,720m.
In addition, testing for mineralization parallel to the Mercedes, Barrancas and Lagunas veins successfully defined the Aida Vein early in 2018. The Aida Vein is a near-surface, high-grade vein in the upper part of the main Mercedes vein system. Underground drilling at Mercedes has confirmed the expansion of a high-grade vein system at Rey de Oro in proximity to existing mine infrastructure. A ramp was advanced from the Lagunas mine workings to provide access for underground drilling at Marianas which started in late Q4-2018.
Exploration in 2019 will include greater focus on testing these high potential targets, while also replacing or expanding mineral resources and mineral reserves. Two principal areas have been identified by Premier as highest priority: northwest along the Mercedes Trend at Marianas and along the Diluvio-Lupita corridor.
- Positive expansion of targeted deposits at Mercedes, including 18.3 m of 38.28 g/t Au & 25.98 g/t Ag (Aida Vein) and 22.0 m of 36.65 g/t Au & 171.30 g/t Ag (Rey de Oro), and underground drilling at Marianas
- Definition of the near surface, high grade Aida Vein including 18.3 m of 38.28 g/t Au & 25.98 g/t Ag
- High grade mineralization at Rey de Oro including 22.0 m of 36.65 g/t Au & 171.30 g/t Ag
- Initiating of underground drilling at Marianas
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|T: +44 (0)203 983 7040|
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