The Conversation (0)
Premium Exploration Inc. (CVE:PEM) reports a revised NI 43 101 compliant resource estimate which includes the results of its phase-three 10,000 meter drill program at the Friday-Petsite deposit, Idaho gold project.
The press release is quoted as saying:
This mineral resource is derived from 60 diamond drill holes and 80 RC drill holes consisting of the validated (Micon, 2004) historic resource produced by Kinross Gold in 1999 (96 core and RC holes), Canden Capital, 2002 (5 core holes), Beartooth Platinum, 2004 (4 core holes), and 2009-2010 drilling by Premium Exploration USA (35 core holes). The average drill hole spacing is 25 m within the area of interest and a total of 4911 composites of 3 m length capped at 34 g/t Au were employed in this estimate.
Premium Exploration’s VP of Exploration, Michael Ostenson says:
“The strength of our geologic model and the ability to target the mineralizing structure using geophysics has allowed us to intersect mineralization in every drill hole at the Friday and Monday Zones.””We are very excited for the Phase-Four drill program; the geologic model indicates that the three resource zones are contiguous along the 1.4 km of strike and the deposit remains open along strike to the north, south and at depth outside of the resource zone. Phase-Four will consist of major step-out drilling with some infill at the Friday-Petsite deposit while a majority of the footage will focus on exploration drilling along the OSZ. Using our proven Exploration Strategy and Geological Model the focus will be +15 km north along the Deadwood and Buffalo Gulch Zones in an effort to make new discoveries.”
Click here to access the entire news release.