Wanted to give a heads up
posted on
Oct 13, 2010 12:17AM
We may not make much money, but we sure have a lot of fun!
I have benefited from some who have shared their picks here so i will give one of my own. The company is called Premium with PEM as it's symbol.
All holes have hit mineralization, still drilling with assays pending for 6 holes. 9 million in the bank, and results coming through to spring when phase 4 drilling will start. 30 k strike length 100% owned, likely over a million ounces now and only 3 % of property drilled. Was invited last weekend to present at Caseys resource show for up coming companies. Was just written up by Broderick, and 2 or 3 others who just visted the site. Looking for lots of news going forward. Dundee involved. Discovery of lower block zone. Gold starts at surface in the soil.
I will send some info but do your own dd...
http://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DV%2EPEM%26newsid%3D7812850%26apFlag%3D
Premium Exploration Inc. (TSX VENTURE: PEM) (the "Company") is pleased to announce assay results for the first three holes of the ongoing 10,000 meter Phase-Three drill program at the Friday-Petsite project located in central Idaho, USA. These holes have added 200 meters of strike length to the high-grade mineralization now referred to as the "Lower Block" recently discovered down-dip, directly beneath, and not included in the existing bulk-tonnage 531,890 oz inferred gold resource (NI 43-101).
Highlights Include:
PFR2010-1: 0.98 g/t gold over 203.0 meters including
2.61 g/t gold over 21.03 meters
PFR2010-2: 1.84 g/t gold over 274.9 meters including
5.74 g/t gold over 76.2 meters including
22.18 g/t gold over 14.94 meters
PFR2010-3: 2.23 g/t gold over 157.9 meters including
3.65 g/t gold over 74.37 meters
"Resource growth at the Friday-Petsite property should expand rapidly with the addition of 300 meters of strike length in the new "Lower Block" to the existing 350 meters of strike length in the 531,890 oz, "Upper Block", inferred gold resource. With mineralization open at depth and the high-grade aspect of the "Lower Block", the potential for quickly adding ounces with two drills onsite is outstanding," stated Michael Ostenson, Premium's VP of Exploration.
The geometry of the deeper high-grade mineralization discovered in Phase-Two drilling led Premium's geologists to propose a new "Lower Block", offset horizontally and slightly vertically from the upper block, which hosts the 531,890 oz at-surface resource, by a shallow dipping thrust fault. The existence of the new "Lower Block" has now been confirmed and is the target of development in the early stages of the 10,000 meter Phase-Three drill program. Please click http://bit.ly/CrossSection123 for the PFR2010-1, 2, 3 Cross-Section and http://bit.ly/strikelengthsectionsplanview for the "Strike Length and Section Plan" map.
With the high-grade component of the newly discovered "Lower Block", addition of ounces and overall resource growth at the Friday-Petsite inferred gold resource is expected to proceed at a rapid pace; PFR2010-11 was drilled 50 meters to the south of PFR2009-11 which returned 2.94 g/t gold over 73.5 meters, including 10.57 g/t gold over 17.2 meters in Phase-Two, and encountered similar alteration and mineralization, adding 50 meters of the "Lower Block's" strike length south. An additional five drill holes have been drilled along 150 meters of strike to the north of PFR2009-10 and have encountered similar alteration and mineralization as encountered in PFR2010-3 and PFR2009-10 increasing the "Lower Block's" total strike length by 200% within Premium's patented claim boundary.