Resource News

Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) reported that results of the completed structural study on the exploration drill-holes in the Deadwood Zone, and definition drill-holes from the Friday Zone, has confirmed strong structural control on at least 12 km of the 30 km long gold mineralized system on the Idaho Gold Project.

Premium Exploration Inc. (TSXV:PEM,OTCQX:PMMEF) reported that results of the completed structural study on the exploration drill-holes in the Deadwood Zone, and definition drill-holes from the Friday Zone, has confirmed strong structural control on at least 12 km of the 30 km long gold mineralized system on the Idaho Gold Project.

As quoted in the press release:

Key Drill Results:
SD2011-1: 0.25 g/t Au over 13.6 m within 0.14 g/t Au over 113.4 m
SD2011-2: 0.12 g/t Au over 10.1 m as well as 1.64 g/t Au over 0.9 m
SD2011-3: 3.38 g/t Au over 0.9

Key Points:

  • All three holes intercepted anomalous gold mineralization consistent with bulk-tonnage style mineralization, identified the 9th gold zone along the IGP, and continue to confirm Premium’s geological model for at least 12 km of the 30 km IGP.
  • Drilling targeted a 400 metre portion of the 12 km gold-in-soil anomaly that trends through the Deadwood and Buffalo Gulch Zones and correlates with the 30 km Orogrande Shear structure.
  • Deadwood drill-holes exhibit similar geology, structure, alteration, and sulphide mineralisation characteristic of the Friday Zone which hosts the Friday-Petsite deposit located 12 km to the south.
  • Future drilling will focus on the result of a detailed structural study to outline the size and geometry of the potential mineralised system on both the bulk-tonnage and quartz vein targets throughout the IGP.
  • Surface grab sampling returned results consistent with the bulk-tonnage target as well as high-grade results up to 41.86 g/t Au associated with a recently discovered, non-drill tested, quartz vein swarm located immediately west of the drill-holes reported in this release.
  • Premium continues to encounter anomalous gold mineralisation in 99.9% of all its drilling; all mineralised zones are linked by the 30 km geophysical anomaly with co-incident 16 km gold-in-soil anomalies.

Click here to read the Premium Exploration Inc. (TSXV:PEM) press release


Click here to see the Premium Exploration Inc. (TSXV:PEM) profile.

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