Premium Drilling Extends Mineralization 315 Metres Below Resource Area Demonstrating Scaled Expansion at the Selebi Project
Premium Resources Ltd. (PRMLF) has announced significant drilling results at its Selebi North Underground (SNUG) project, demonstrating substantial mineralization expansion. The key discovery includes drill hole SNUG-25-186 intersecting South Limb mineralization over 16.20 metres, located 132 metres down-plunge from the previously announced SNUG-25-184 hole.
Together, these drill holes have extended the South Limb mineralization by 315 metres down-plunge from the 2024 resource model's lower extent. Borehole electromagnetic (BHEM) surveys indicate thicker mineralization northwest of SNUG-25-186. The current resource has a down-plunge extent of 965 metres, with ongoing drilling targeting further expansion. Follow-up drilling is underway with SNUG-25-189, and assays for 2025 drill holes are expected in early July.
Premium Resources Ltd. (PRMLF) ha annunciato risultati significativi di perforazione nel suo progetto Selebi North Underground (SNUG), evidenziando un'importante espansione della mineralizzazione. La scoperta principale riguarda il foro di sondaggio SNUG-25-186, che ha intercettato mineralizzazione nel South Limb per 16,20 metri, situato 132 metri più in basso rispetto al foro SNUG-25-184 precedentemente annunciato.
Questi fori di sondaggio hanno esteso la mineralizzazione del South Limb di 315 metri in discesa rispetto alla porzione inferiore del modello di risorsa 2024. Le indagini elettromagnetiche in foro (BHEM) indicano una mineralizzazione più spessa a nord-ovest di SNUG-25-186. L'attuale risorsa si estende per 965 metri in discesa, con perforazioni in corso per ulteriori espansioni. È in corso un sondaggio di follow-up con SNUG-25-189 e i risultati delle analisi per i fori del 2025 sono attesi all'inizio di luglio.
Premium Resources Ltd. (PRMLF) ha anunciado resultados significativos de perforación en su proyecto Selebi North Underground (SNUG), demostrando una expansión sustancial de la mineralización. El hallazgo clave incluye el pozo de perforación SNUG-25-186, que intersectó mineralización en el South Limb a lo largo de 16,20 metros, ubicado 132 metros pendiente abajo desde el pozo SNUG-25-184 anunciado previamente.
En conjunto, estos pozos de perforación han extendido la mineralización del South Limb en 315 metros pendiente abajo desde el límite inferior del modelo de recursos de 2024. Las encuestas electromagnéticas en perforación (BHEM) indican mineralización más gruesa al noroeste de SNUG-25-186. El recurso actual tiene una extensión pendiente abajo de 965 metros, con perforaciones en curso para una mayor expansión. Se está realizando una perforación de seguimiento con SNUG-25-189 y se esperan los análisis de los pozos de 2025 a principios de julio.
Premium Resources Ltd. (PRMLF)는 Selebi North Underground (SNUG) 프로젝트에서 중요한 시추 결과를 발표하며 광물화가 크게 확장되었음을 보여주었습니다. 주요 발견은 SNUG-25-186 시추공이 이전에 발표된 SNUG-25-184 시추공에서 132미터 아래쪽으로 내려간 위치에서 16.20미터에 걸쳐 South Limb 광물화를 관통한 것입니다.
이 시추공들은 2024년 자원 모델의 하단 범위에서부터 South Limb 광물화를 315미터 더 연장시켰습니다. 시추공 전자기(BHEM) 조사 결과 SNUG-25-186의 북서쪽에서 더 두꺼운 광물화가 확인되었습니다. 현재 자원은 965미터 아래쪽으로 확장되어 있으며, 추가 확장을 목표로 시추가 계속 진행 중입니다. 후속 시추는 SNUG-25-189로 진행 중이며 2025년 시추공의 분석 결과는 7월 초에 예상됩니다.
Premium Resources Ltd. (PRMLF) a annoncé des résultats de forage significatifs sur son projet Selebi North Underground (SNUG), démontrant une expansion substantielle de la minéralisation. La découverte clé concerne le trou de forage SNUG-25-186, qui a intercepté une minéralisation du South Limb sur 16,20 mètres, situé à 132 mètres en plongée par rapport au trou SNUG-25-184 précédemment annoncé.
Ensemble, ces trous de forage ont étendu la minéralisation du South Limb de 315 mètres en plongée par rapport à la limite inférieure du modèle de ressource 2024. Les levés électromagnétiques en forage (BHEM) indiquent une minéralisation plus épaisse au nord-ouest de SNUG-25-186. La ressource actuelle s’étend sur 965 mètres en plongée, avec des forages en cours visant une expansion supplémentaire. Un forage de suivi est en cours avec SNUG-25-189, et les analyses des forages de 2025 sont attendues début juillet.
Premium Resources Ltd. (PRMLF) hat bedeutende Bohrergebnisse bei seinem Selebi North Underground (SNUG)-Projekt bekannt gegeben, die eine wesentliche Ausdehnung der Mineralisierung zeigen. Die wichtigste Entdeckung ist das Bohrloch SNUG-25-186, das eine Mineralisierung am South Limb über 16,20 Meter durchteufte, 132 Meter hangabwärts vom zuvor angekündigten Bohrloch SNUG-25-184 entfernt.
Diese Bohrlöcher haben zusammen die Mineralisierung am South Limb um 315 Meter hangabwärts über das untere Ende des Ressourcenmodells von 2024 hinaus erweitert. Bohrloch-elektromagnetische (BHEM) Untersuchungen zeigen eine dickere Mineralisierung nordwestlich von SNUG-25-186. Die aktuelle Ressource erstreckt sich hangabwärts über 965 Meter, wobei die Bohrungen zur weiteren Erweiterung fortgesetzt werden. Folgebohrungen werden mit SNUG-25-189 durchgeführt, und die Analyseergebnisse der Bohrlöcher von 2025 werden Anfang Juli erwartet.
- Successful extension of South Limb mineralization by 315 metres beyond current resource boundaries
- Existing resource shows strong grades over 3% CuEq
- BHEM surveys indicate potential for thicker mineralization zones
- High-precision drilling enabled by advanced BHEM technology and deep understanding
- Assay results for 2025 drill holes not yet available until July
- Further drilling needed to confirm continuity and scale of mineralization
Toronto, Ontario--(Newsfile Corp. - May 27, 2025) - Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) ("PREM" or the "Company") announces another successful intercept of mineralization at Selebi North Underground ("SNUG") targeting down-plunge expansion beyond the resource model.
Key Highlights:
- SNUG-25-186 intersected South Limb mineralization over 16.20 metres at a distance of 132 metres down-plunge of previously announced drill hole SNUG-25-184 (Figure 1).
- Borehole electromagnetic ("BHEM") results indicate that a thicker interval of mineralization lies immediately to the northwest of drill hole SNUG-25-186.
- Drill holes SNUG-25-186 and SNUG-25-184 have together extended the South Limb mineralization 315 metres down-plunge from the lower extent of the 2024 resource model.
- The next drill hole is underway to define strike extent of the down-plunge extension.
Figure 1: Location of drill holes and BHEM target zones relative to the Mineral Resource Estimate
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/253471_a7c9f1eae4e74b31_002full.jpg
Morgan Lekstrom, CEO of Premium Resources, commented: "The significant step-outs and ongoing expansion that we are achieving, in the time frame, clearly illustrates that this deposit expands well beyond the boundaries of the current resource area. Given the strong grades in our existing resource well over
Next Steps
Follow-up drilling is already underway, with drill hole SNUG-25-189 targeting the area between SNUG-24-096-W1 and SNUG-25-184 to further evaluate the continuity and scale of both the South Limb and N2 mineralized systems. Assays for 2025 drill holes are expected in early July and will be released as they are received.
BHEM Surveys
The BHEM surveys at Selebi Mine utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a "qualified person" for the purposes of National Instrument 43-101.
Technical Report
The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.ca) under PREM's issuer profile.
About Premium Resources Ltd.
PREM is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic of Botswana.
PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our skilled team has worked on over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the Company's Selebi and Selkirk mines. PREM's senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.
For further information about Premium Resources Ltd., please contact:
Morgan Lekstrom
CEO and Director
morganl@premiumresources.com
Jaclyn Ruptash
Vice President, Communications and Investor Relations
jaclyn@premiumresources.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to: the response to the mineral resource estimate in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing mineral resource estimate; the publication by the Company of a potential updated mineral resource estimate or future prefeasibility study; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management's belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the mineral resource estimate technical report and the scientific and technical information in this news release; the timing to release of assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a mineral resource estimate and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company's approach to exploration; management's belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company's approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under PREM's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Figure 1: Location of drill holes and BHEM target zones relative to the Mineral Resource Estimate
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/253471_a7c9f1eae4e74b31_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253471
FAQ
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