The potential at Cove - the Helen zone specificall I've heard a few analysts in the past remark that Cove was a bit of a sketchy project, even with the high grade Helen zone. The lack of enthusiasm was due primarily to the uncertainty as to whether or not the high grade at Helen extended much beyond the known limits at the time. Results released a few days back clearly demonstrate the potential for expansion. If we continue encountering high grade at depth, NEM will be forced to make a decision as to whether or not to back in.....or allow PG to run with it. This could get interesting going forward, especially with 4 drills(?) turning.
Ovais Habib, Scotia Capital (1/9/13) "Premier Gold Mines Ltd. released assay results for six additional drill holes from the Cove project, located in the Eureka-Battle Mountain Trend in Nevada. . .the reported stepout holes returned good widths and grades (e.g., 9.16 g/t over 16m, including 14.15 g/t Au over 6.25m in hole AX-18). Drilling in the Lower Helen Zone is reported to have expanded the mineralization by 213m to the east-southeast, toward the Cove pit, since Premier assumed control of the project and the zone is wide open."