Sampling Results from 2012 Exploration Work

RNS Number : 8536N

Premier Gold Resources PLC

04 October 2012

 

Embargoed: 0700hrs, 4 October 2012

Premier Gold Resources plc

("Premier Gold" or the "Company")

Exploration Work enhances prospectivity of Cholokkaindy licence

Premier Gold (AIM: PGR), the Central Asia-focused gold exploration and development company, has received results of prospecting and soil analyses from samples collected during the current exploration programme within the Cholokkaindy licence.

The increased geological continuity provided by the new results indicates that the four previously identified prospects should be interpreted as part of a single mineralising system. The new data indicates two geologically defined trends up to four kilometres long with significant gold in bedrock and gold soil anomalies over an area of five square kilometres.

Highlights

·      Soil sampling proves significant gold anomalies over five square kilometres

- Large areas of more than 10ppb (parts per billion) Au (Gold) in soils

- 12 coherent gold in soil anomalies of more than 100ppb Au

- Highest soil sample of 900ppb Au

- Anomalies remain open in all directions

·      Talbaital - Jarkonush prospects now defined as single northwest oriented geological trend up to four kilometres in length

·      Aksai - Torsai prospects now defined as single northwest oriented geological trend up two kilometres in length

·      Soil sampling confirms areas of known bedrock mineralisation. For example, at Aksai-Torsai the new results prove an extensive gold anomaly around a trench that assayed 7 g/t Au over a 3m width

·      Reconnaissance prospecting around Aksai-Torsai consistently returns grab samples ranging up to 5 g/t Au

Richard Nolan, Chief Operating Officer, commented:

"The latest results from Cholokkaindy are highly encouraging. Where we had previously identified a strike length in Talbaital of 1,200 metres and a width of 400 metres, we are now looking at a target of over five square kilometres linking all four prospects. We believe the new data is indicative of a larger mineralising system extending across four target areas.

Our focus remains to drill Talbaital, which has the most data collected. With this year's soil sampling programme largely complete, the results indicate that there are more, newly identified, targets to test. The Company has begun discussions with the drilling contractor about a much larger and more ambitious programme for 2013.  

The Company is confident that the licence area displays several key indicators associated with other large gold deposits in the northern Tien Shan metallogenic belt."

Sample analyses were carried out at the Central Laboratory in Bishkek, Kyrgyzstan.

This announcement has been approved by EurGeol Garth Earls, PGeo, who is Head of Exploration for Premier Gold Resources plc and a Competent Person for the purposes of the reporting of these results. 

Contacts:

Premier Gold Resources Plc
Richard Nolan, COO	01279 731037
Merchant Securities Limited (NOMAD and Broker)
Lindsay Mair / Richard Goldsmith / Chris Theis	020 7628 2200
M: Communications
Ben Simons / Matthew Neal	020 7920 2340/68

For further information please visit: www.premiergoldresources.com 

 

END

 

 

MSCFSAFDDFESEFS