Welcome!

News Feed Item

Premium Exploration: Exploration Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/08/13 -- Premium Exploration Inc. (TSX VENTURE:PEM)(OTCQX:PMMEF) is pleased to provide an exploration update for the Idaho Gold Project.

Drill Results

Premium is pleased to report it has received all assays for the test RC drill hole for the planned 8,000 m infill program at the Friday-Petsite Resource. Upon examination of the results, Premium will determine whether to proceed with the RC drill method or return to diamond drill coring to ensure the highest and best QA/QC for the infill program, and will release the results to the public.

Permitting

Premium has embarked on two Environmental Assessments ("EA") to streamline its exploration at its Idaho Gold Project.

"This approach will allow us to consolidate what are currently eight smaller exploration permit applications into two, under which we will be able to conduct a district-wide evaluation of targets," said Premium's President and CEO Del Steiner. "After thoroughly evaluating the options for moving forward and after discussions with the permitting agencies as well as environmental organizations, it's clear the two-EA method is the best regime for proceeding."

One EA is on lands administered by the Bureau of Land Management ("BLM") and the other on the portion administered by the United States Forest Service ("USFS"). Having the EA's conducted by the agencies will allow Premium to more strategically implement its district-wide exploration approach while simultaneously ensuring the Company meets both the high environmental standards required and the company's own commitment to environmental protection and sustainability.

The EAs will provide infrastructure for drill exploration that will allow follow-up on any new or existing discoveries and continue the collection of data for environmental baseline studies throughout the Idaho Gold Project. The scoping for public comment regarding the EA as it pertains to the Plan of Operation for drilling from 57 drill sites on lands administered by the BLM concluded January 25, 2013. Once complete it will be released to the public with the signed Decision Memo.

The majority of the data for the EA on the lands administered by the USFS has been acquired through the EA conducted by the BLM in addition to several of Premium's previous Plans of Operations.

Permitted Drill Sites

Meanwhile, Premium's infill drill program remains unaffected by the aforementioned permitting; previously permitted drill sites on public lands, private property, or any of Premium's patented claims, some of which cover a substantial majority of the mineral resources, remain accessible.

The principal purpose of this process is to conduct exploration on a number of exploration prospects outside of the Friday deposit, for which drilling is not scheduled to commence until the second half of 2013 and is subject to financing, permitting, and market conditions.

NI 43-101 Technical Report

Premium's current technical report on the Company's Idaho Gold Project was prepared for Premium by Mr. Ronald Simpson, P.Geo, President of Geosim Services Inc. and independent "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The technical report has an effective date of May 31, 2012 and was filed on SEDAR on August 16th, 2012.

Qualified Person

The Phase-Four exploration program is being directed by Michael Ostenson, P.Geo., VP Exploration of Premium Exploration Inc. Mr. Ostenson is a Qualified Person as defined by NI 43-101. Mr. Ostenson prepared, and approves of the content in this release.

About Premium Exploration Inc.

Premium is focused on the exploration and development of its district-sized Orogrande Shear Zone "OSZ" to fulfill its vision of developing a new mining district in North America. The OSZ is a 30 km-plus regionally-significant structure that correlates with multiple known zones of mineralization. This structural control to gold mineralization has characteristics similar to many large gold belts, such as the Carlin Trend of Nevada. Exploration is ongoing at the bulk-tonnage Friday-Petsite deposit, the most advanced of several known mineralized zones located along the OSZ and represents four percent of the OSZ under Premium's control.

For additional information, please visit us at http://www.premiumexploration.com

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Premium Exploration Inc.
Mr. Del Steiner
President & Chief Executive Officer
(604) 682-0243
(604) 682-2499 (FAX)
[email protected], [email protected]
www.premiumexploration.com

Opes Capital Inc.
Ms. Christine Kopr
Corporate Communications
(604) 682-0243
(604) 682-2499 (FAX)
[email protected]
www.opescapitalinc.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.