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Thunder Bay gold digger raises cash, goes drilling

Premier Gold raised $33.4 million for its exploration and development activities in Northern Ontario. The Thunder Bay miner announced the completion of its bought deal public offering of common shares and flow-through common shares, Oct. 31.
Northern Ontario Business Staff

Premier Gold raised $33.4 million for its exploration and development activities in Northern Ontario.

The Thunder Bay miner announced the completion of its bought deal public offering of common shares and flow-through common shares, Oct. 31.

The company's portfolio includes gold assets in Red Lake, Musselwhite and Geraldton in northwestern Ontario.

Premier said high grade gold intercepts are expanding its Key Lake deposit at its Trans-Canada Project near Geraldton. The project is 10 kilometres along strike west of its flagship Hardrock deposit.

One drill hole yielded at gold intersect of 21.77 grams per tonne across 5.35 metres.

Key Lake is being evaluated for a mineral resource estimated update on the Trans-Canada Project expected to be released early next year. It will be included in a preliminary economic assessment.

“These results are particularly exciting,” said Premier exploration vice-president Tim Twomey, “as they demonstrate the potential of the Key Lake deposit to host underground-type grades west of the core area, where it remains wide open down plunge.”