Premium Exploration Finds More Gold at Friday Zone: 1.0 g/t Gold over 117.4 Metres

Premium Exploration Inc. (TSXV:PEM) reports making gold discoveries.

The press release is quoted as saying:

The Company is pleased to announce that drill-hole PFR2011-10 intercepted 1.0 g/t gold over 117.4 m including 3.3 g/t gold over 4.9 metres upon stepping out 155 metres north along strike and at depth of the Main Zone of the Friday-Petsite NI 43-101 indicated gold resource of 11.8 Mt grading 0.90 g/t Au containing 343,000 oz gold and inferred gold resource of 22.5 Mt grading 1.08 g/t Au containing 779,000 gold oz, both at 0.5 g/t cut-off.

Premium Exploration’s VP Exploration, Michael Ostenson says:

“Nine of the ten step-out holes drilled to date have encountered near surface bulk-tonnage gold mineralization, extended the mineralized zone from 800 to 1,220 metres, and demonstrates the multi-million oz potential of the Friday-Petsite deposit.” “Upon defining the extent of the mineralized zone along strike, Premium can then begin development to potentially increase the resource. Until then, our plan is to continue stepping out to determine how large the zone really is.”

Click here to access the entire news release.

Click here to access Premium’s company profile.(TSXV:PEM)