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Premium Exploration Inc. (PEM:CA)
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Premium Exploration Inc. is focused on gold exploration at its district-sized Idaho Gold Project along the +30 Km Orogrande Shear Zone ("OSZ") in North-Central Idaho, USA.
The Idaho Gold Project hosts five zones of mineralization within 30 km of potentially mineralized structure identified by geophysics and is similar to many large gold belts such as the Carlin Trend in Nevada.
The Company's goal is to ultimately develop a district with multiple near-surface gold resources along its +30 km property. Its strategy of drilling structures identified by geophysics and gold-in soil trends has led to 3 gold discoveries and significant resource development.
With less than 1% of the geophysical anomalies drilled, advancing gold resources, and 30 Km of drill-ready targets, Premium is well positioned to create shareholder value through exploration and development of this emerging gold district.
Company Highlights:
- Proven Management & Technical Team
- Proven Exploration Strategy
- 2 Historic Deposits – Remain Open
- 3 Gold Discoveries to Date Along a 30Km Trend
- Significant Exploration Update with +25,000M Drill Program
- Advancing Resources
343,000 oz Au Indicated – (11.8 Mt @ 0.90 g/t Au with 0.5 g/t Au cut-off)
879,000 oz Au Inferred – (26.4 Mt @ 1.04 g/t Au with 0.5 g/t Au cut-off)
Deadwood – Orogrande Shear Zone
The Deadwood Project is located along the Orogrande Shear Zone and links the Buffalo Gulch Project(110,000 oz non-43101) to the north with the Aurum and Friday-Petsite Project(549,000 oz 43-101) to the south.
The land package consists of 178 claims and was recently increased by 134 claims for a total current land position of 312 unpatented lode claims. The total area covers ~2,500 hectares or 25 sq-km.
Several historic mines and prospects are present on the property and the project is bounded on all sides by historically worked placer deposits. Click here for more information.
Friday-Petsite, Dixie – Orogrande Shear Zone
Friday-Petsite hosts a *549,000 oz gold inferred resource (NI 43-101). Open along strike and at depth, it has many of the hallmarks of a significant, gold deposit in terms of its size potential and current grade. There is the possibility of additional sulphide gold mineralization at depth and additional oxide gold mineralization along strike.
*15 Mt averaging 1.13 g/t Au at a 0.5 g/t Au cut-off
Previous operators Bema Gold, Cyprus-Amax, and Kinross Gold Corp., delineated the first 250 metres (820 ft.) of a high-grade zone within the area of the resource while focusing on developing the near surface low-grade deposit. In 2004, Beartooth Platinum Corp., audited the previous drilling as well as expanded the high-grade strike of the high-grade zone by 100 metres (328 ft.). At the time, the price of gold was approximately $350/oz. Click here for more information.
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PEM:CA
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