PHASE-TWO DRILLING TO CONTINUE AT FRIDAY-PETSITE PROJECT
The Phase-Two program will consist of 6 to 10 HQ core holes designed to intercept gold mineralization associated with the Shear Zone for up to an additional 560 meters (1837 ft) along strike. The Shear Zone is highlighted by the gold geochemical anomaly that is contiguous to and extends south along strike from the 531,890 oz Au inferred gold resource (NI 43-101) resource for a total of 1150 meters (351 ft).
Wilf Struck, P.Eng., CEO and Chairman, commented: With financing in place, we are excited to be drilling on our bulk-tonnage, multi-million ounce Friday-Petsite gold resource project target. The first hole of the Phase-Two 1,830 meter (6,000 ft) program has been completed and was drilled to a total depth of 488 meters (1,602 ft). This is the deepest hole drilled to date on the Friday-Petsite project, which is associated with the Orogrande Shear Zone in central
Step-out drilling will test strike length to the north and south including the gold geochemical anomaly that extends directly south of the resource and will test down dip to a maximum depth of 488 meters (1,602 ft). The current resource is hosted in 350 meters (1148 ft) of strike and from surface to 150 meters (492 ft) of depth. Please click here for a map of the proposed drill program.
The drill target is accessible year round, although winter drilling is slower and consequently more expensive. Premium is monitoring drilling costs on an on-going basis to minimize drilling down time over the winter months and maximize the footage drilled at acceptable costs.
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