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Premier Gold Acquires Stake in Red Lake‎

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Premier Gold Mines hopes to acquire two patented claim groups situated in the East Bay ultramafic trend in Red Lake. Both claim groups are close to the Footwall Zone on the East Bay Project. This is an active joint venture that the company runs with partner Red Lake Gold Mines.

Red Lake Gold Mines is a JV between Goldcorp Inc. and Goldcorp Canada Ltd. which operates in the heart of the Red Lake gold mining district. The Footwall Zone was initially discovered during testing favourable geophysical regions in the East Bay Ultramafic Trend in 2010 by Premier Gold Mines and Goldcorp Inc.

The mineralization in the Footwall Zone consists of narrow vein and high ore grade structure that have many intercepts that were found to grade in excess of one ounce per ton gold. That would equate to roughly 34.29 grams per ton of gold.

Stephen McGibbon, Executive Vice-President of Premier Gold Mines said that in recent years, the East Bay Ultramafic Trend has yielded impressive high-grade discoveries that are aggressively being advanced. These new claim groups are located between the two most active areas and are believed to have the potential to host similar mineralization he added. That is why the company is hoping to acquire 100% stake in these two claims.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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