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.
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