The Rahill-Bonanza Project, a joint venture between Premier and Goldcorp’s Red Lake Gold Mines Partnership, is in discussions to participate in a major underground development program that Goldcorp expects to undertake at the Red Lake Gold Mines mine complex.
Goldcorp has announced that a trade-off study has indicated the construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex is the favoured method to develop its Cochenour deposit.
A portion of this tram may pass through the joint venture project. This tram will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake Mine Trend. The Red Lake Gold Mine is considered to be one of the world’s richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources.
It is expected that the joint venture, of which Premier holds a 49 per cent interest, will fund drill bays on the south side of the tram that could be used to drill-test high potential areas and switches that could be built in the event of possible development of the Wilmar, West Granodiorite, and Bonanza deposits located on the Rahill-Bonanza Project.
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