Premier Gold Mines: Drilling Intersects High-grade at Marianas, Mercedes Mine
May 7, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to note the recent announcement made by Premier Gold Mines Limited (“Premier”) of that company’s high-grade drill results from initial underground drilling at the Marianas Zone, one of the primary exploration targets at Premier’s 100%-owned Mercedes Mine, located in State of Sonora in northern Mexico, on which Elemental Royalties holds a 1% NSR royalty subject to a production hurdle.
Mercedes is an underground gold and silver mine exploiting quartz veins and quartz-carbonate stockworks in a low sulphidation epithermal system at an extraction rate approaching 2,000 tonnes per day. The main Mercedes mine trend is host to a series of high grade sub-vertical quartz veins which represent the property’s most substantial producing area with total past-production of some 687,000 recovered ounces from 2011 through 2018.
The Marianas Zone comprises the down-plunge extension of the main Mercedes mine trend where previous drilling suggests the potential to host economic mineralization of higher than the current reserve grade. It is the Premier’s goal to convert a portion of Marianas mineral resources to mineral reserves with a delineation drill program during the balance of 2019. Ore development could commence in 2020.
Key results include:
- 31.0 m of 4.96 g/t Au & 71.06 g/t Ag including 3.1 m of 25.65 g/t Au & 171.30 g/t Ag (UG-MR19-011)
- 20.5 m of 4.51 g/t Au & 64.09 g/t Ag including 3.8 m of 11.04 g/t Au & 94.09 g/t Ag (UG-MR19-007)
- 3.5 m of 7.29 g/t Au & 8.25 g/t Ag (UG-MR19-010)
These are encouraging results, and Premier expect further strong intersections as drilling moves towards the core of the deposit.
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.
Original Article: https://www.premiergoldmines.com/high-grade-at-marianas
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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