TD UPDATEPrimero Mining Corp. (P-T) C$2.00 Solid Exploration Results at both Black Fox and San Dimas Steven Green, CFA Daryl Young, CFA, CA
Event This morning, Primero released updated drill results from both its Black Fox and San Dimas properties.
Impact: SLIGHTLY POSITIVE Initial mining of Deep Central zone commenced at Black Fox; drill results continue to show high-grades at depth: initial mining began in early September with the 640, 660, and 680 metre mining levels now developed. To date, a total of 3,885 tonnes grading 8.3 g/t. have been mined using long-hole stoping. Development in ore has produced an additional 4,350 tonnes grading 10.9 g/t. Also, drilling at depth continues to yield promising results with a highlight hole at 800 meters depth hitting 27.9 g/t over 5.8 metres. Recent exploration to the west of the Deep Central zone has also yielded high-grade results with highlight holes grading 28.1g/t over 2.7metres and 9.1g/t over 1.2m (including 15.2g/t over 0.6 metres). Deep drilling will remain a focus for the remainder of the year with 3 u/g diamond rigs currently operating. 2 additional surface rigs are operating as well. San Dimas exploration; Victoria vein extended: further exploration of the Victoria vein continues to yield results with highlight holes including:
208.7 g/t gold and 3,037 g/t silver over 1.3 metres true width (VIC16_379), 11.5 g/t gold and 590 g/t silver over 3.5 metres true width (VIC16_374), and 12.6 g/t gold and 817g/t silver over 2.3 metres true width (VIC16_378) Results from the Causitas vein on the Lachuguilla claim promising: the Lachugilla concession is located 18km south of San Dimas and the recently discovered Causitas vein is located close to the main road connecting Tayoltita and Durango. Chanel sampling highlights include 7.1 g/t AuEq over 4.5 metres true width including 10.9 g/t AuEq over 2.0 metres true width (L-05), and 5.0 g/t AuEq over 3.0 metres true width including 9.8 g/t AuEq over 1.2 metres true width (L-02). Two additional veins have also been located in close proximity to the Causitas vein and management believes the area could be much more extensive than originally thought. Further drill results from a current program are expected before you year end.