Premier pours first gold bar from El Niño mine

Premier Gold Mines (TSX:PG) announced that it has started processing ore from the El Niño mine located at the company’s 40%-owned South Arturo property in Nevada.

South Arturo is in the Carlin Trend, approximately 25 miles northwest of the town of Carlin, and is a joint venture between Premier and Nevada Gold Mines, a joint venture company owned by Barrick Gold (TSX:ABX) and Newmont-Goldcorp (NYSE:NEM) with Barrick as operator.

El Niño, on the other hand, is a high-grade underground deposit situated down plunge of the Phase 2 pit, where mining was concluded in 2017.

Premier suggested that since ore is being processed ahead of schedule and considering that a first gold bar was poured on September 26, 2019, production at El Niño is expected to ramp up before the end of H2-2019.

“Premier attributable gold production is estimated to meet the high end of guidance for the year and the company expects that, owing to the high-grade ore at El Niño, South Arturo will have a positive effect on cash flow,” the Thunder Bay-based company said in a media statement. 

South Arturo’s pre-commercial production estimate for 2019 has been calculated between 5,000 and 10,000 ounces of gold.