Premium Exploration has reported silver results from Phase III drill-hole PFR2010-22 at new Monday Zone discovery.
The company has encountered significant high-grade silver from drill hole PFR2010-22 in its new Monday Zone discovery all along the Idaho Gold Project.
The unique features of the Monday Zone are signified by these high-grade silver values. This important discovery will be followed up through the ongoing 25,000 m drilling program.
The company has intersected 91 g/t gold over 0.9 m, 153 g/t silver over 1.0 m and 5.5 g/t gold over 6.4 m, 100 g/t silver over 0.9 m in PFR2010-22.
This is the second drill hole to cut the Monday Fault structure. The hole has drilled the west at -55 dip and intercepts new Monday Zone along similar geophysical-structural anomaly. The hole PFR2010-19 has cut 1.4 g/t gold over 38.6 m. The company has completed PFR2010_22 at 818.5 m down-hole depth and finds inconsistent gold mineralization.
The location of PFR2010-22 is 900 m south of PFR2010-19. These two holes have same geochemistry and mineralization representing the continuous potential, for 900 m along the Zone.
This zone stays open in every direction and outlined through a 5 km geophysical anomaly. So far, Premium has drilled the geophysical anomalies and intercepted major mineralization. Premium has planned for follow-up drilling at Monday zone during 2011 Phase IV drilling program.