Red Lake Project Update May 2011

Transcription

1 PREMIER GOLD MINES LIMITED Red Lake Project Update May 2011 Symbol: PG Exchange: TSX This presentation may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company s expectations or projections. Historical Resources have been estimated by previous operators and are not NI compliant. 1 PG:TSX

2 Home of the World s s Richest Gold Mine THE PREMIER DIFFERENCE RED LAKE 4 Projects - The Rahill-Bonanza JV represents the last project on the main Red Lake Mine Trend not 100% owned by Goldcorp. - Recent Developments: - Tram construction is underway - Cochenour/Bruce Channel mine development CANADA S S #1 ADDRESS FOR HIGH GRADE GOLD GAZ ZONE NEW MINERAIZED ZONE Rubicon Phoenix Project F2 Zone F2 NEW DISCOVERY: to 297 g/t Au 1.0 m CHEVRON ABINO East East Bay Bay Trend Trend Goldcorp View from Rahill-Bonanza Joint Venture boundary BRUCE CHANNEL Madsen Madsen Trend Trend BC COCHENOUR WILMAR BONANZA PG70 DISCOVERY: g/t Au 1.5 m g/t Au 3.5 m Mine Trend RLGM RED LAKE GOLD MINES HGZ HIGH-GRADE ZONE McKENZIE GOLD MINE BRUCE CHANNEL DEPOSIT 2 -Gold Deposit

3 MINE TREND CONSOLIDATION Market Cap $1 Billion F2 Placer Dome Takeover In 2007 Cochenour Unconformity GEA 2008 Takeover $1.5 Billion (Gold Eagle) Wilmar Rahill-Bonanza JV Bonanza RLGM Red Lake Gold Mines World s highest-grade gold mine +27 Million ounces of gold GOLDCORP CONSOLIDATION OF THE RED LAKE CAMP 3 PG:TSX

4 Red Lake Geology Strategically located in the heart of the Red Lake Mine Trend Wilmar/PG70 Zones are associated with ultramafic rock units similar to the major deposits in Red Lake ABINO (G) F2 ZONE (RMX) RAHILL-BONANZA JV FOOTWALL ZONE (PG-G) G) N 1 km - GOLD ZONE Unconformity CHEVRON (G) BRUCE CHANNEL COCHENOUR PG70 ZONE High Speed Tram WILMAR BONANZA MARCUS CRAIBBIE FLETCHER Rahill-Bonanza JV HG YOUNG RED LAKE GOLD MINES DC ZONE Tram to Dec HIGH GRADE ZONE Premier holds the last land on the main Red Lake Mine Trend not 100% owned by Goldcorp 4 PG:TSX

5 RAHILL-BONANZA JV 13 Level Drift OPT MULTIPLE CATALYSTS FOR REALIZING GROWTH: - Continued Exploration and expansion Success at Rahill-Bonanza. Bruce Channel Deposit - Resource models being built for and Wilmar deposits. - Follow-up drilling on new Ultramafic discovery. - Drill testing of the potential Bruce Channel extension Q E Ext. PG70 Zone - Discovery potential at Lennie Red Lake Drilling ongoing. - Drill testing major structural break at East Bay ( F2 -like). Bonanza Deposit Cochenour Mine 1,589, g/t Au Wilmar Mine 203, OPT Unconformity TRAM Mine Trend Investigation 1 km Craibie-Fletcher High-Speed Tram Program $2.5M - 12,000 m COCHENOUR BRUCE CHANNEL PG70 ZONE BONANZA RED LAKE GOLD MINES HIGH GRADE ZONE

6 RAHILL-BONANZA JV Surface -650m COCHENOUR Mine Trend Potential WILMAR BONANZA PG-G Joint Venture 7.3 km RLGM +27 Million Ounces of Gold -1300m Bruce Channel 2005 GEA PG70 Zone 124.3g/t - 1.5m 9.5 g/t 6.0 m Wilmar Target 2E Extension Marcus Target High Speed Tram Craibbie Fletcher Target DC Zone 2000 Boundary Zone 2006 High-Grade Zone km Current drilling program PG70 Zone discovery Several recent discoveries have been made down plunge of existing deposits Longitudinal Section Looking North - Majority of holes that have tested the PG70 Zone have intersected ed visible gold - HIGH SPEED TRAM WILL OPEN UP HUGE POTENTIAL AT DEPTH 6 PG:TSX

7 RAHILL-BONANZA JV From Goldcorp website Global Metals Mining Conference, March 2, 2010 Approx current location Approx location cross onto JV

8 WILMAR ZONES LONGSECTION WILMAR MINE Avg. +10g/t Au * Historic Mine Grade Wide open for expansion 500 m PG g/t 4.5m PG g/t 3.5m 6E Zone 8 9.5g/t 6.0m 2E 2E STRUCTURE STRUCTURE - OPEN OPEN UNTESTED PG07018W1 14.2g/t Au 5.0 m Incl g/t Au 1.0m PG07015W4 9.11g/t Au 6.0m Incl. 49.0g/t Au 1.0 m

9 WILMAR 2E LONGSECTION TARGETS 2E structure is wide open for expansion 2E Zone Mining 0.4 oz/ton Au 9 UNTESTED AREA PG g/t 3.5m OPEN OPEN PG10082A 1.68 g/t -1.4m PG g/t 1.5m g/t 4.5m g/t 4.5m OPEN OPEN PG11091 Assays Pending UNTESTED AREA PG11092 Assays Pending 6E Zone Deposit 2E Zone Mineralized lens within West Wilmar Carbonate structure. Similar to PG70 Zone. High Grade Zone potential