Start of 2012 Exploration Programme

RNS Number : 5171F

Premier Gold Resources PLC

18 June 2012

 



Embargoed: 0700hrs 18 June 2012

Premier Gold Resources plc

("Premier Gold" or the "Company")

Start of 2012 Exploration Programme

Premier Gold (AIM: PGR), the Central Asia-focused gold exploration and development company, today announces the commencement of the 2012 exploration programme on the Cholokkaindy licence in Kyrgyzstan. The season has commenced with an extensive soil sampling programme and further trenching.  Diamond drilling in this season will help establish a geological resource on the licence in 2013.

As part of the work programme this season the Company expects to drill a total of 1,500 metres in the target area of the Talbaital prospect, as well as the Jarkonush prospect if the season allows. Premier Gold plans to drill a minimum of six holes to depths of up to 250 metres and intends to report initial results from core obtained from these prospects by Q4 2012.

The programme is designed to extend and define the length and depth of the known surface mineralisation and support the correlation of mineralised structures across the targeted area.

Trenching and soil sampling in priority areas has already begun. The combined work will indicate whether the Talbaital prospect extends into Jarkonush and more precisely map mineralised zones over the total licence area.

A bulldozer has arrived on site and has begun to prepare access for the drilling rig expected to arrive during July. The bulldozing process is also designed to expose new areas of mineralisation. The drilling programme will be undertaken by Tamerlan, a highly qualified contractor with extensive operating experience in Kyrgyzstan.

Richard Nolan, Chief Operating Officer, commented:

"We are pleased to start this season's exploration programme which includes the first drilling on Cholokkaindy, an area in the Tien Shan gold belt which has a history of producing gold mines. By the end of this season we expect to be in a position to map out the 2010 and 2011 surface sampling mineralisation into structures and mineralised veins.

"This is an exciting time for Premier Gold as we move in to the next stages of developing the prospect which will provide a maiden geological resource by 2013, the start of the process of proving up a commercial scale resource capable of driving real value for shareholders."

Graphics illustrating the major prospects within the Cholokkaindy licence area, including Talbaital and Jarkonush, are available on the Company's website:

http://www.premiergoldresources.com/exploration/projects/cholokkaindy.aspx

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Enquiries:  

Premier Gold Resources Plc
Richard Nolan, COO / Gerry Desler, FD	Tel: [phone]
Libertas Capital Corporate Finance Limited - Nominated Adviser
Thilo Hoffmann / Sandy Jamieson	Tel: [phone]
Rivington Street Corporate Finance - Broker
Jon Levinson	Tel: [phone]
M: Communications
Ben Simons / Matthew Neal	Tel: [phone]

 

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