Premium exploration released more positive results today that will most definitely move this one above .50 for good over the coming weeks. They hit 1.5 g/t over 150 meters but more importantly with this hole they have better defined the width of the lower block of this deposit and so far it is at least 100m wide by 300 meters deep by 300 along strike indicating that depending on the grade there is a minimum 400k to 600k additional ounces of gold bringing this deposit to at least 1 to 1.2 Million ounces of gold at a grade between 1.5 and 2 g/t at Friday Petsite when adding the Upper and Lower Blocks together.
What I think is significant is that the deposit is still open at depth and along strike and depending how far it goes to depth and along strike it could significantly add to the resource. Another 200 meters along strike at 2 g/t would bring the Lower Block resource very close to 1M ounces. You can see how quickly the ounces can add up. I believe that they are currently underselling the width of the deposit and if the width is closer to 150 meters than 100 meters then there is already 850,000 ounces in the Lower Block. Add up the 550k+ ounces in the Upper Block and you already have a 1.4M ounce deposit without increasing the strike length or depth.
Premium is on to something big at Friday-Petsite and with 2 drills working, one stepping out along strike and the other defining the deposit for a resource calculation, Friday Petsite could become a 3M to 5M ounce deposit over night with a couple more monster stepout holes.
Premium is a great buy under .50 and investors will be mightily rewarded fro their patience.
Happy Trading
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