Premium Exploration Encounters 151 Meters (496 Feet) of 2.68 g/t Gold at Its Idaho Gold Project
2014年1月23日 - 11:01PM
Access Wire
January
23, 2014, Couer
d'Alene, Idaho - Premium Exploration Inc. (TSX-V: PEM; OTC Pink
Current: PMMEF) ("Premium" or the "Company") announces that assay
results from
drilling the deep zone at the Friday Gold Deposit in
Idaho County, ID. The drill hole has confirmed
continuity of a
high-grade gold
zone below the
current
bulk-tonnage
gold resource. Two
additional holes have been completed in the deep zone, and drilling
is now focused on the shallow high-grade zone at the Friday. The
drilling is being done to support a preliminary economic study of
the high grade at the Friday deposit and is designed to extend the
high grade mineralization found in drill holes detailed in the
January 15th, 2014
press release.
Highlights
Include:
PFR20013-1: 15.19 g/t gold over 9.14 meters
(30 feet),
5.62 g/t
gold over 54.1 meters (177.5
feet);
2.69 g/t
gold over 151 meters (496 feet)
The ongoing drill program consists
of twelve HQ
core holes and complete
assay results have now been
received for the first drill hole PFR2013_1.
Drill hole PFR2013_1
was drilled 27 meters south of PFR2009_10 and intercepted the
strongest mineralization at approximately 17 meters due to drill
hole deflection. A zone of 54.1 meters (237.7-291.8 meters)
encountered strongly silicified, clast-supported breccia rimmed
with pyrite. This zone was also encountered in the next hole to be
reported, PFR2013_2. A suite of metallic screens will be completed
on the high-grade intercepts as well as a selected grade range to
better understand gold distribution. Approximately 50 samples will
have metallurgical testing work performed in the near future to
further our understanding of the high-grade zone.
-------------------------------------------------------------------------
|Drill |Zone |From |To (m)|Interval|From |To |Interval|Au |
|Hole | |(m) | |(m) |(feet)dsf|(feet)|(feet) |g/t |
|-----------------------------------------------------------------------|
|PFR2013-1|Friday|231.65|382.83|151.18 |760 |1,256 |496 |2.69 |
|-----------------------------------------------------------------------|
| | |237.74|291.85|54.10 |780 |957.5 |177.5 |5.62 |
|-----------------------------------------------------------------------|
| | |270.51|279.65|9.14 |887.5 |917.5 |30 |15.19|
-------------------------------------------------------------------------
Note:
"The initial results
from this program
support the current understanding of
the geologic and
structural controls of the
mineralization and
will be used in the upcoming Preliminary Economic Study.
The
high-grade gold intercepts from this drilling are encouraging and
will likely
have a positive
impact on
the economics of this project." stated John
Ryan, President &
CEO of Premium.
Quality
Assurance
The Company has implemented a
rigorous QA/QC program using best industry practices at the Friday-
Petsite Property. The program includes security of samples, and
drill core sawn in half and shipped in sealed bags, blind
duplicates, blank samples and certified standards are inserted into
the sample stream. The samples are then boxed and freighted to ALS
Chemex Labs in Elko, NV a lab certified for the provision of assays
and geochemical analyses (ISO 9001:2008). Samples with gold values
greater than 10 g/t were re-analyzed via the metallic screen
procedure. Samples with visible gold were also analyzed initially
using the metallic screen analysis, as were the samples immediately
preceding and following the sample with visible gold.
Qualified Person
The
2013 exploration
program is directed by James Baughman,
Chief Geologist of Premium Exploration,
Inc., who is a Qualified Person
as defined
by NI 43-101. Mr. Baughman
prepared, and
approves of the content of this release.
Vancouver
Roundup
Premium Exploration
will be at the Core Shack, January 28th & 29th
in conjunction with the Vancouver Roundup. Core
samples from the current round of drilling will be on
display.
About
Premium Exploration Inc.
The Company's purpose is
to efficiently and economically advance their district sized Idaho
Gold Project. The Idaho Gold project contains three known deposits.
The Friday deposit has an NI 43-101 compliant resource of:
Indicated: 647,000 Au
(20.1 MT @ 1.0 g/t Au with 0.45 g/t cut-off)
Inferred: 590,000 Au
(20.9 MT @ 0.88 g/t Au with 0.45 g/t cut-off)
The Deadwood deposit and
the Buffalo Gulch oxide deposit both have small historical gold
resources and both are expandable. Premium Exploration has
commenced a preliminary economic study envisioning underground
mining of a high grade portion of the Friday deposit.
For More Information Please Contact:
-------------------------------------------------------------
|Mr. John Ryan, President & CEO |Peter J. Kletas Investor |
|P : (604 ) 682 - 0 243 Fax: |Relations 866-999-6251-Toll|
|(604) 682-2499 E: |Free 604-874-7915-Direct |
|jryan@premiumexploration.com E:|info@premiumexploration.com|
|info@premiumexploration.com |peter@pjkandassociates.com |
| | |
-------------------------------------------------------------
This press release
contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Security Exchange Act of 1934, and
involves a number of risks and uncertainties. Important factors
that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents
filed from time to time under the Company's profile on
www.sedar.com in accordance with
the policies and requirements of the TSX Venture Exchange and
applicable securities law. All statements, other than of historical
fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. There are no assurances that the Company can
fulfill such Forward-Looking Statements and the Company undertakes
no obligation to update such statements.
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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