WARNING: NO ADVICE IS EVER GIVEN ON GOLD GROWTH STOCKS. YOU TRADE AT YOUR OWN RISK.

Tuesday 8 February 2011

Stock: Premium Exploration

TSX:PEM
Premium Exploration is focused primarily on gold exploration at its land package in Central Idaho. Named the Orogrande Shear Zone it has a big mining history with multiple known gold mineralisation zones detailed below.

Friday-Petsite
This zone has a historic 43-101 compliant inferred gold resource of 549,000 oz is already in the bag and the drills are turning to bring you more of the same. The aim of this next drilling is to approach the 1million gold oz mark.

Buffalos Gulch
This zone has a historic resource of 100,000 oz again 43-101 compliant. Work to create an open pit operation retrieving 25,000-35,000 oz of gold a year has been talked about publicly, but we will have to wait for confirmation on that one.

The land between Friday-Petsite and Buffalos Gulchhas been snapped up by Premium Exploration with an additional 110 claims being staked with the aim of creating mainly open pits. Some drill results would disagree however showing 21.3m averaging 9.9 g/ton gold mineralization and 1.5m of 67.89 g/ton. 
The historic drill results from past exploration of Orogrande Shear Zone have shown a high-grade gold zone that runs along the Orogrande Shear Zone. Along the northern extension, geophysical and geochemical surveys taken indicate the possibility that this  high-grade gold zone may extend along the entire length of the Orogrande Shear Zone.
The purpose of the next phase of drilling is being carried out with the express aim of validating the above geological interpretations. To check that Premium Exploration are hard at work to achieve this goal you just have to look at the recent news!: 

February 8, 2011 
Premium Exploration Drills Third Discovery at Idaho Gold Project: 2.1 g/t Gold Over 20.1 Meters...

January 31, 2011
Premium Exploration Drills 1.5 g/t gold over 134 Meters including 2.5 g/t gold over 47.3 Meters; Resource Remains Open in All Directions and Phase-Four Exploration Update...

January 19, 2011
Premium Exploration Drills 7.0 g/t Gold over 34.4 Meters within 1.5 g/t Gold over 330.4 Meters Continuing Resource Expansion & 100% Drill Success at Friday-Petsite Project...

Overall this is a great company with prospect only just starting to be digested. Along with the above projects Premium Exploration also has some interesting platinum group prospect in Mexico and America. As ever DYOR.

No comments:

Post a Comment