Centerra, Premier Gold get drilling at Ontario project

Greenstone Gold Mines, a 50/50 joint venture between Canadian miners Centerra Gold (TSX:CG) and Premier Gold (TSX:PG), has kicked off a core and reverse circulation drilling program at its Hardrock project in southern Ontario.

The company, which received the province’s final approval for the proposed gold mine last month, aim to develop an open pit operation that could be in production for almost 15 years. The announced program is the second phase of a two-phase drilling strategy launched last year with the purpose of validating and de-risking the 2016 Feasibility Study block model.

According to that technical report, gold production is expected to average 350,000 ounces annually in the first four years.

The asset consists of four claim groups, Hardrock, Brookbank, Key Lake and Viper, located along, or close to the Trans-Canada Highway between the towns of Beardmore and Longlac, about 275 km northeast of Thunder Bay.

Hardrock would be Centerra’s second mine in Canada. Earlier this month, the company began commercial production at its Lamaque mine located in Quebec, the company’s first operation in the home country, expected to produce between 100,000-110,000 ounces of gold this year.

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