It seems fitting as a tribute to the sudden passing of Premium Exploration's CEO Wilf Struck in a motorcycle accident that the news a week ago announcing stellar results from the first 3 holes of 2010 as a company maker and confirmation of a discovery of what could be a multi-million oz gold deposit and new zone called teh 'Lower Block'. There was no bigger believer in Friday-Petsite than Wilf Struck and after a somewhat disappointing 2009 campaign there were some doubters in this highly touted Gold property in Idaho, but not now as Wilf and his claims about Friday-Petsite are vindicated.
It is just too bad he won't be around to enjoy the success that will come as PEM implements a 10,000 meter drill program to delineate new high grade zone which has the potential to more than triple the known resource of 531k oz of gold.
So far this campaign has increased the the strike length of the newly discovered lower block from 100m to 300m. The total strike length of the upper block is 350m.
Now when you compare intervals of last years results of the Upper Block of...
1.20 g/t gold over 76.05 meters, including 3.76 g/t gold over 10.52 meters as well as 1.13 g/t gold over 42.67 meters, including 7.73 g/t gold over 4.57 meters.
compared with results of 5.74 g/t over 76 meters and 2.23 g/t over 158 meters that is a rating of 140 vs. 352 and 436... Now so far both blocks are approximately the same strike length so with values like that it is easy to see how a 531k oz gold deposit becomes a 2M oz gold deposit over night. This deposit is still open along strike and down dip and with 10,000 meters of drill core to come I am expecting some more exciting results from Premium Exploration and a steady increase in share price with continued success, almost certainly a takeout as there are not too many made in 'America' deposits around. They are few and far between, certainly outside of Nevada, and even in Nevada the miners are refining the lower grade material.
Premium Exploration is a must have stock.
No comments:
Post a Comment