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Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) announced the latest results from step-out drilling which has increased the strike length of the Friday Main Zone an additional 200m to the south for a total strike length 1,700m, representing a 113% increase.
As quoted in the press release:
Given the demonstrated potential for significant resource expansion, planning is underway for an infill drill program focused on Friday-Petsite resource growth.
Key Points:
- With the Main Zone hosting (NI 43-101) 343,000 oz indicated in 11.8 Mt @ 0.90 g/t Au and 779,000 oz inferred in 22.5 @ 1.08 g/t Au in just 800m of strike, there is significant resource growth potential along the identified 1,700m gold bearing system
- The 900 m of additional strike length has been defined and targeted for infill drilling
- Drill hole PFR2011-18 returned: 1.8 g/t gold over 10.1 meters within
- 0.5 g/t gold over 124.7 meters
- Drill hole PFR2011-18 is the first 200m step-out along an additional 3,300m coincident geophysics and gold-in-soil anomaly outside known Friday Zone mineralisation
- Additional metallurgical test work to advance the Friday-Petsite resource has been initiated
- To date assays from 6,270m (25%) of the planned drill program have been reported from a total of 10,600m drilled to date
Premium Exploration VP for Exploration, Michael Ostenson, said:
“We have more than doubled the mineralised footprint of the Friday Main Zone and acquired geotechnical information essential to future definition drilling which will define the true width and depth of mineralisation along the newly defined extension of the Friday Zone.”
Click here to read the Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) press release
Click here to see the Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) profile.