Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) reported results from the RC drill hole completed in December 2012 at the Friday Zone on the Idaho Gold Project. Hole PFR2012-1 returned 1.11 g/t Au over 111.25 meters within 0.57 g/t Au over 304.80 meters. The RC drill hole tested the viability of using reverse circulation drilling in an effort to reduce the cost of the in-fill program for the resource.
The results appear to be consistent with the resource and previously released core holes drilled in this area; PFR2009-10, PFR2009-12 and PFR2010-23 (please see press releases dated January 13, 2010 and January 31, 2011). Due to the grade variability of the resource, a QA/QC analysis is being conducted which will compare the results of the RC hole with the adjacent core holes. Upon completing the QA/QC and economic analysis, Premium will then determine whether to proceed with the RC drill method or return to diamond drill coring.
|Otis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.|