Great comments once again, top pick!Premier Gold Mines (OTC BB: PIRGF)
I still have
great expectations for gold explorer
Rubicon Minerals following a rather disappointing assessment of the company's F2 gold deposit, but another successful explorer drilling right in the heart of the prolific Red Lake gold district in Ontario now commands our Foolish attention. Premier holds a 49% stake in a joint venture with
Goldcorp (
NYSE: GG) for the Rahill-Bonanza project, which is flanked on one side by Goldcorp's flagship Red Lake mine and on the other by Goldcorp's satellite Cochenour and Bruce Channel deposits. In fact,
the underground tram Goldcorp is constructing to carry Cochenour's ore to the Red Lake mill runs through the property and offers intriguing access for underground exploration. Premier considers Rahill-Bonanza the "best positioned gold property anywhere," but the explorer's fate does not rest with that property alone.
Premier is involved in two additional joint venture projects within the Red Lake district, one of which is 65% owned by Goldcorp. Elsewhere in Ontario, the company recently consolidated its ownership of the Hardrock deposit -- with its 2.5 million ounces of measured and indicated gold -- through the acquisition of former joint venture partner Goldstone Resources. For the attractive combination of a multimillion-ounce deposit already in the bag, and the prospects for meaningful discoveries in partnership with the likes of Goldcorp, Premier Gold Mines offers a high-octane choice for growth-hungry gold investors.