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.
- 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.”