RE: Excitement brewing...interesting + ARTICLEReally appreciated you sharing the local buzz. Great article to read! Been invested in Red lake plays since EXL/SSR, then GEA. Been holding PG & RMX as well, noticing how both have trade "systematically" with those 100 shares trades (we all remember how GEA was traded even having trades cancelled). RMX was orchestered down for huges crosses at $3.50 recently...making you wonder what else is brewing in Red Lake. Wondering if Agnico Eagle added to their claims in the area. Hardrock-Geraldton project JV issued an update, seems activity will only start summer/fall....perfect scenario when project leader is undergoing some "fine tuning" (legality,split of assets). Cheers to all and our great management team! GLTA
Gold spot looking good in Red Lake
05/15/2010
A summer drill program may be in the cards for a Thunder Bay-based junior mining company following the discovery of a new gold-bearing zone in Red Lake.
Premier Gold Mines Ltd. said this week that recent drilling at the company‘s East Bay Project has uncovered a potentially significant gold bearing system.
Highlights from the new discovery area include: assays of 51.04 grams of gold per tonne of rock (g/t) over 0.7 metres, and 7.25 g/t gold over 2.8 metres.
The East Bay Project is located north of Rubicon Minerals Phoenix Gold Project, and is one of two joint ventures in the area being explored by Premier in partnership with Red Lake Gold Mines Ltd., an affiliate of Goldcorp Inc.
Premier‘s exploration manager Tim Twomey said that “the identification of significant gold mineralization associated with biotite altered porphyry on our East Bay project is similar to the primary gold zones at Rubicon‘s F2 deposit.
“What‘s truly exciting is that we have several kilometres of untested strike length as well as down-dip potential of this new discovery area,” he said.