Premium Exploration: Drilling Commences at Idaho Gold Project
Published : November 28, 2012
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Keywords :   Gold | Idaho | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Premium Exploration Inc. (News - Market indicators)(OTCQX:PMMEF) ("Premium" or the "Company") is pleased to announce the 8,000 metre infill and definition drill program has commenced at the Friday Zone along the Idaho Gold Project, a 30 km long gold district in Idaho. Drilling is designed to increase and expand the Friday-Petsite constrained resource.

The objective of the infill program is to define one homogenous deposit along the 1.7 km mineralized footprint by achieving the following objectives:

  • Define additional ounces within the 1 km pit-constrained resource, targeting areas with insufficient drill density, while simultaneously connecting the North and Main zones into one deposit.
  • Increase overall resources by expanding the pit constrained resource zone from 1.0 km to 1.7 km of strike length, targeting the successful 2011 step-out drilling along the additional 0.7 km strike to the south.

Approximately 150 meters have been drilled by one reverse circulation rig. A total of up to 25 drill holes are planned, ranging in depth from 100m to 350m.

The current resource begins at surface, is comprised of 629,000 oz Au Indicated (21.5 Mt @ 0.91 g/t Au at 0.4 g/t cut-off) and 146,000 oz Au Inferred (5.9 Mt @ 0.77 g/t Au at 0.4 g/t cut-off), and remains open along strike to the north, south and at depth.

Click here for the drill plan map: http://bit.ly/2012FP_Infill_Program

Qualified Person

The Phase-Four exploration program is being directed by Michael Ostenson, P.Geo., VP Exploration of Premium Exploration Inc. Mr. Ostenson is a Qualified Person as defined by NI 43-101. Mr. Ostenson prepared, and approves of the content in this release.

About Premium Exploration Inc.

Premium is focused on the exploration and development of its district-sized Orogrande Shear Zone "OSZ" to fulfill its vision of developing a new mining district in North America. The OSZ is a 30 km-plus regionally-significant trending structure that correlates with multiple known zones of mineralization and has structural control to its gold mineralization, characteristics similar to many large gold belts, such as the Carlin Trend of Nevada. Development is ongoing at the bulk-tonnage Friday-Petsite deposit, the most advanced of several known mineralized zones located along the OSZ and represents 4% of the OSZ under Premium's control. For additional information, please visit us at www.premiumexploration.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 with the TSX Venture Exchange and the British Columbia Securities Commission. 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. 

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.

Premium Exploration Inc.
Mr. Del Steiner
President & Chief Executive Officer
(604) 682-0243
(604) 682-2499 (FAX)
dsteiner@premiumexploration.com, info@premiumexploration.com
www.premiumexploration.com
or
Opes Capital Inc
Ms. Christine Kopr
Corporate Communications
(604) 682-0243
(604) 682-2499 (FAX)
ckopr@opescapitalinc.com
www.opescapitalinc.com

Premium Exploration Inc.

EXPLORATION STAGE
CODE : PEM.V
ISIN : CA74060R4098
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Premium Expl. is an exploration gold and palladium company based in Canada.

Premium Expl. holds various exploration projects in Mexico.

Its main exploration properties are CHROME MOUNTAIN, BUFFALO GULCH, IDAHO (FRIDAY / PETSITE / DIXIE), ROSAMORADA, LA LUPE and NUEVA GALICIA in Mexico.

Premium Expl. is listed in Canada. Its market capitalisation is CA$ 844 000 as of today (US$ 642 622, € 586 264).

Its stock quote reached its highest recent level on April 01, 2011 at CA$ 8.30, and its lowest recent point on April 24, 2015 at CA$ 0.01.

Premium Expl. has 42 200 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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Financings of Premium Exploration Inc.
9/10/2012Closes $340,000 Non-Brokered Private Placement
11/30/2011Enters Into Financing Arrangement for up to $7.5 Million
Option Grants of Premium Exploration Inc.
4/12/2011Grant of 100,000 stock options to certain consultants
Nominations of Premium Exploration Inc.
1/18/2012Appoints Mike Vint, P.Eng to its Board of Directors
11/30/2011Appoints Ken Booth to its Board of Directors
2/24/2011Enhances Engineering and Geological Team for Preliminary Ass...
Project news of Premium Exploration Inc.
5/9/2012Renew your subscription to receive the latest updates from P...
4/24/2012Completes District-Wide Structural Study and Reports Final 2...
12/1/2011Makes Multiple New Gold Discoveries at Idaho Gold Project
10/12/2011Samples High Grade Gold and Encounters Friday Zone-Style Min...
7/28/2011Completes 35% of 10,000 Soil Campaign at Unglaciated Idaho G...
6/1/2011(Idaho (friday / Petsite / Dixie))Discovers More Gold 20 km from 1st Discovery
5/26/2011(Idaho (friday / Petsite / Dixie))Exploration Update along 30 Km Emerging Gold District
5/17/2011(Idaho (friday / Petsite / Dixie))Reports Silver at Monday Zone Discovery at 30 km Emerging Go...
5/11/2011(Idaho (friday / Petsite / Dixie))Receives $1,912,500 for Exploration of 30 km Idaho Gold Proj...
4/26/2011(Idaho (friday / Petsite / Dixie))Funded for District-Wide Exploration of Emerging Gold Distri...
4/1/2011(Idaho (friday / Petsite / Dixie))Premium Exploration Announces Indicated & Inferred Resources...
3/29/2011(Idaho (friday / Petsite / Dixie))Announces New 15 km Geophysical Anomaly & Start of +25,000 m...
3/29/2011(Idaho (friday / Petsite / Dixie))Announces Indicated & Inferred Resources at 30 km Idaho Gold...
3/22/2011(Buffalo Gulch)Identifies Potential Mineralized Structures at Depth in Buff...
3/4/2011(Idaho (friday / Petsite / Dixie))Defines 8 Km Gold-In-Soil Trend at Idaho Gold Project
Corporate news of Premium Exploration Inc.
5/11/2015IIROC Trading Halt - PHC; PEM; XE; ZNR
2/9/2015TSX-V: PEM
2/6/2015TSX-V: PEM
2/5/2015TSX-V: PEM
2/2/2015TSX-V: PEM
1/30/2015TSX-V: PEM
1/29/2015TSX-V: PEM
1/28/2015TSX-V: PEM
1/23/2015TSX-V: PEM
1/22/2015TSX-V: PEM
1/21/2015TSX-V: PEM
1/20/2015TSX-V: PEM
1/19/2015TSX-V: PEM
1/16/2015TSX-V: PEM
1/14/2015TSX-V: PEM
1/13/2015TSX-V: PEM
1/12/2015TSX-V: PEM
10/7/2014Premium Exploration Reports 5.23 G/T over 112.8 Metres at th...
4/30/2013Files Technical Report on the Idaho Gold Property
4/11/2013Announces Increased Mineral Resource Estimate at Idaho Gold ...
3/28/2013Signs an Option Agreement for Logan Resources to Acquire up ...
2/19/2013Intersects 1.11 g/t Au Over 111.25 m at Idaho Gold Project
2/8/2013Exploration Update
12/4/2012Identifies an Additional Strong IP Target Along the Idaho Go...
11/28/2012Drilling Commences at Idaho Gold Project
11/28/2012Drilling Commences at Idaho Gold Project
10/17/2012Announces 8,000 m Drill Program to Expand Friday-Petsite Gol...
10/3/20121.88 g/t Au Over 32 Meters in Historic Drilling 1.0 km From ...
9/18/2012Reports up to 93% Gold Recoveries at Friday-Petsite Resource...
4/20/2012Announces Completion of Private Placement
3/14/2012Clarification of Technical Disclosure and Withdrawal of Pros...
11/18/2011Doubles Friday Zone Strike Length; Resource Development Plan...
9/6/2011Acquires Highly Prospective Patented Gold Mining Claims with...
8/10/2011Finds More Gold at Friday Zone: 1.0 g/t Gold over 117.4 Met...
8/2/2011Northern Miner: Former Idaho Governor Encourages Mining in t...
7/25/2011Begins Trading on the OTCQX
7/19/2011Drills 1.0 g/t Gold Over 118 Meters and Increases Strike Len...
7/6/2011Correction from Source and Step-Out Drilling Extends Gold Re...
6/16/2011Roger Weigand: Gold Rally Only Beginning, Industy Watch inte...
6/9/2011Proxy Vote Reminder - Due Monday, June 13, 2011
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