Thanks Nugent, just something I put together before my weekend job jar is started. Sorry for the red, just trying to make a point that in my opinion VLC looks like a great partner to move the Friday-Petsite property forward. For those that don't know me, that last sentence was total sarcasm. I have been told by some that Premium can't stake all of Idaho, correct. But if Premium shareholder money has been used for ground work done on property to be later staked and a airborne survey has been conducted using the same money, does this not entitle Premium to that property or is it just first come first served? I did talk to the IR from VLC and was told they had planned on going to Idaho and talking to Del so they could purchase the airborne survey data for the property they had staked. Have a good weekend.

Diakow, a co-founder of Velocity Minerals Ltd., flew into Boise on Sept. 10, rounded up some surveyors, and headed up to Orofino County to stake 60 claims on about 1,240 acres in the Orogrande Mining Division, an area known for yielding up gold in the past.

"We wanted to do this quietly and very quickly," said Jeremy Yaseniuk, a co-founder of the Vancouver, B.C., company.

Velocity is working with Premium Exploration, Inc., which has a drilling program under way just a few miles from Velocity's claims.

"It's buyer beware as to whether or not this is something that's actually worthwhile having," she said.

July 21 2010

Airborne Geophysics and Drill Plan

Due to the presence of sulfides, magnetite, and hematite in the mineralized Shear Zone, a limited ground magnetic geophysical program has been conducted on the Friday-Petsite property.

Magnetic data correlates exceptionally well with soil geochemistry and effectively delineates the Shear Zone and specifically, the location of the Friday Fault along the eastern boundary of the Shear Zone. A sharp magnetic high/low signature is present along the Friday Fault, being the main bounding fault between mineralization and un-mineralized country rock (see map). This sharp high/low signature exists along strike to the north and to the south which will benefit in drill-hole placement where soil geochemistry is absent or unobtainable and suggests ~3,000 meters of potential additional strike length, open for immediate exploration.

The success of the ground magnetic geophysics has also led Premium geologists to plan a large helicopter born Magnetic/EM survey along the entire length of the Orogrande Shear Zone.

September 08 2010

“Defining the overall footprint of the Orogrande Shear Zone with the airborne geophysics is surprising in its implications. It confirms that the OSZ is a significant regional structure consisting of numerous targets. This confirmation coupled with the structural control of mineralization are all characteristics shared with the Carlin Trend of Nevada,” said Michael Ostenson, VP Exploration.

3,000 meters of OSZ strike length has been identified with the ground magnetic geophysical survey completed in Phase-Three. The data correlates distinctly with the 750-meter segment of the Friday-Fault defined through drilling, equipping Premium with an extraordinary tool in the ongoing resource expansion.

The capability to identify the Friday-Fault through magnetic data, led Premium to employ Fugro Airborne Surveys Corporation for the flight of a 180 sq-km DIGHEM Magnetic and Electro-Magnetic Survey over the entire length of the inferred Orogrande Shear Zone.

Early interpretation of the raw data shows an apparent cross-cutting fault in the Friday-Petsite zone. Upon review of the data along strike of the OSZ, Premium geologists have inferred multiple new targets with similar cross-cutting features.

The survey was completed on August 22, and final post-processed results are expected to be early to mid October.