Phase II Exploration At San Pedro Analco Mine
The commencement of the Phase II Exploration Program follows up on reported historic drilling of 86 diamond drill holes at the past producing San Pedro de Analco (SPA) silver mine. Drilling was conducted after production was shut down in 1984 due to low silver prices. Premium is currently reviewing an independent engineering report on the San Pedro de Analco project and in preparation has applied for necessary permitting for a future drill program.
The San Pedro de Analco project produced from five historic underground mines and Industrias Pe–oles. Historically produced gold and silver from a mine situated on one of the mineralized structures. It is a low sulfidation silver-gold deposit consisting of at least five vein systems ranging in width from 2-10m with a strike length of 2 Km. The SPA is located approximately 70 km northwest of Guadalajara in the State of Jalisco, Mexico. Premium has an option to earn 100% interest in the property which covers an area of 1,136 hectares.
Historical data and previous drill and sample data are currently being compiled and field-checked in preparation to design and implement a drill program at the mine. In addition to confirming historical drill results, one of the main objectives of the upcoming drill program is following up on the 700 meters of unexplored potentially mineralized structure between the mines, as well as down dip extensions below the historic mines.
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