Premium Exploration Drilling Significantly Extends Strike Length of Gold Mineralization

- October 3rd, 2011

Premium Exploration (TSXV:PEM,OTCQX:PMMEF) announced the latest results of step-out holes drilled have significantly increased the strike length of the Friday Main Zone.

Premium Exploration (TSXV:PEM,OTCQX:PMMEF) announced the latest results of step-out holes drilled have significantly increased the strike length of the Friday Main Zone.

As quoted in the press release:

 The Main Zone strike extent has been increased by 700m by the Phase-Four drilling program to date and remains open along trend.

Highlights Include:

  • 88% increase in strike length of the Main Zone to 1,500m: Main Zone hosts 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 along 800m of strike (see press release dated March 28, 2011)
  • PFR2011-14: 1.1 g/t Au over 12.8m and 1.3 g/t Au over 11.3m within 0.4 g/t over 205.7m
    PFR2011-13: 1.0 g/t Au over 14.6m within 0.5 g/t Au over 111.3m
    PFR2011-12: 0.9 g/t Au over 7.3m within 0.5 g/t Au over 93.3m
    PFR2011-11: 4.5 g/t Au over 1.8m and 0.9 g/t Au over 8.2 within 0.5 g/t Au over 24.7m
  • Geophysics and gold-in-soils suggest that the Friday Zone may extend for an additional 3500m
  • The Friday Zone is one of several known gold zones, including the Monday Zone (300m to the west of the Friday Zone) and the Deadwood Zone (5 – 10 km to the north of the Friday Zone). All mineralized zones are linked by coincident gold-in-soil and geophysical trends along the Orogrande Shear system – further exploration results are anticipated shortly
  • To date assays from 5,315m (21%) of the planned drill program have been reported from a total of 10,292m drilled to date

Premium Exploration’s VP Exploration, Michael Ostenson stated:

“We are encouraged by the positive results; we have almost doubled the mineralized footprint of the Main Zone and acquired geotechnical information essential to future definition drilling designed to test the true width and depth of mineralization.” “Step-out drilling continues along the 3500m potential extension of the gold-bearing structure that remains untested.”

Click here to read Premium Exploration (TSXV:PEM,OTCQX:PMMEF) press release. 

Click here to read Premium Exploration (TSXV:PEM,OTCQX:PMMEF) profile.

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