| LAST | CHG | VOL | Updated | |
|---|---|---|---|---|
| TSX-V: PEM | 0.16 | (-0.005) | 141,400 | Feb 3, 2012 3:15pm EST |
| OTCQX:PMMEF | 0.16 | (-) | 14,500 | Feb 3, 2012 3:01pm EST |
The Friday Zone hosts the NI 43-101 Friday-Petsite resources with multi-million ounce bulk tonnage potential*. The growing resources remain open along strike and depth.
Property Highlights:
343,000 oz Au Indicated
(11.8 Mt @ 0.90 g/t Au with 0.5 g/t Au cut-off)
879,000 oz Au Inferred
(26.4 Mt @ 1.04 g/t Au with 0.5 g/t Au cut-off)
| --- CLICK HERE for Phase 4 Raw Assay Data --- |
Raw Assay Data | Press Release May 31, 2011
Raw AssayData | Press Release May 31, 2011
Raw Assay Data | Press Release July 6, 2011
Raw Assay Datas | Press Release July 6, 2011
Raw Assay Data | Press Release July 6, 2011
Raw Assay Data | Press Release July 6, 2011
Raw Assay Data | Press Release July 19, 2011
Raw Assay Data | Press Release July 19, 2011
Raw Assay Data | Press Release July 19, 2011
Raw Assay Data | Press Release August 10, 2011
Raw Assay Data | Press Release October 4, 2011
Raw Assay Data | Press Release October 4, 2011
Raw Assay Data | Press Release October 4, 2011
Raw Assay Data | Press Release October 4, 2011
The 2009 Phase-One program successfully confirmed a new geologic model for the Idaho Gold Project. Phase-Two was designed to test the down-dip potential of the existing 531,890 oz inferred resource (15.17 Mt grading 1.1 g/t Au at 0.5 g/t Au cut-off).
Upon discovering down-dip mineralization in Phase-Two with drill hole PFR2009-10, which returned 2.6 g/t Au over 198 m including 9.2 g/t Au over 29.3 m, the goal of the Phase-Three drill program was to double the existing ounces. Phase-Three culminated in an updated resource estimate of 343,000 indicated and 879,000 oz inferred ounces March 28th 2011.
Part of the Phase-Four 25,000 meter drill program along the Idaho Gold Project is focused on step-out drilling to the north and south along strike of the Friday-Petsite deposit to reveal the true size potential.
Mineralization starts at surface, ranges from 100 to 150 meters in width, extends vertically to an average depth of 300 meters, and remains open in all directions.
The Friday-Petsite resources are hosted in three zones; North, Main, and South. Currently the North and South Zones host 100,000 oz inferred (3.9 Mt at 0.8 g/t Au with 0.5 g/t cut-off) while the bulk of the resources are within the Upper and Lower Blocks of the 800 meter Main Zone.
North & South Zones host:
100,000 oz inferred oz in 3.9 Mt grading 0.8 g/t Au with 0.5 g/t cut-off
Main Zone hosts:
Upper Block: 343,000 indicated oz in 11.8 Mt grading 0.90 g/t Au @ 0.5 g/t cut-off
Lower Block: 779,000 inferred oz in 22.5 Mt grading 1.08 g/t Au @ 0.5 g/t cut-off
Mineralization in the Friday Zone is hosted within sheared and altered Granodiorite/Quartz Monzonite breccias and muscovite/sericite schists. The aleration type is Phyllic; sericite alteration with disseminated pyrite. Other secondary minerals include arsenopyrite, lollingite(iron arsenide), galena, and chalcopyrite. Gold is finely disseminated and also occurs as native in networks of small quartz-carbonate veinlets. The deposit is predominately sulphide with a shallow oxide cap up to 20 meters in depth from surface.
The mineral resource is derived from 60 diamond drill holes and 80 RC drill holes consisting of the validated (Micon, 2004) historic resource produced by Kinross Gold in 1999 (96 core and RC), Canden
Capital 2002 (5 core), Beartooth Platinum, 2004 (4 core), and drilling completed by Premium in 2009 and 2010 (35 of 38 diamond core holes). The average drill hole spacing is 25 m within the area of interest and a total of 4911 composites of 3m length and capped at 34 g/t Au were employed in this estimate.
| Cut-Off Grade (g/t Gold) |
Classification | Tonnes | Grade (g/t Gold) |
Ounces Gold |
| 1.00 | Indicated | 2,918,000 | 1.56 | 146,000 |
| 0.75 | Indicated | 5,778,000 | 1.21 | 225,000 |
| 0.50 | Indicated | 11,818,000 | 0.90 | 343,000 |
| 0.25 | Indicated | 23,404,000 | 0.64 | 482,000 |
| 0.00 | Indicated | 38,120,000 | 0.44 | 542,000 |
| Cut-Off Grade (g/t Gold) |
Classification | Tonnes | Grade (g/t Gold) |
Ounces Gold |
| 1.00 | Inferred | 9,312,000 | 1.60 | 479,000 |
| 0.75 | Inferred | 16,641,000 | 1.28 | 683,000 |
| 0.50 | Inferred | 26,378,000 | 1.04 | 879,000 |
| 0.25 | Inferred | 37,077,000 | 0.84 | 1,007,000 |
| 0.00 | Inferred | 45,502,000 | 0.71 | 1,043,000 |
The NI 43-101 on the Friday-Petsite deposit was prepared for Premium by Mark I. Pfau, MSc. of Tellurian Exploration, Inc. Mr. Pfau is an Independent Qualified Person as defined under NI 43-101. The technical report has an effective date of March 28, 2011 and was filed on SEDAR onSeptember 30, 2011
Please see the Friday-Petsite 43-101 report here:
Metallurgical testing on bottle role tests was conducted by Cyprus-Kinross in 1997-1999 by McClelland Labs on Friday-Petsite ores.
Gold in oxide material averaged 89.5% recovery and was considered exceptionally good by McClelland’s standards. Gold in the mixed oxide-sulfide material averaged 73.6%,while gold in the sulfide material ranged from 37.5% to 80.8% depending on the size range of the material, which included several grinding tests. Grinding to 74 microns (200 mesh) increased recovery substantially to over 80%.
Flotation/gravity testing and mineral liberation analysis has been recommended as the next step in of metallurgical analysis.
* The Company wishes to state that the potential additional resources are conceptual in nature only, and that there has been insufficient exploration to define an increased mineral resource outside of the current NI 43-101 compliant resource. Furthermore, it is uncertain if further exploration will result in additional mineral resources. Estimates for potential additional resources are reported as exploration targets based on the presence of step-out mineralized drill holes, known mineralized zones open along strike and depth and geophysically anomalous areas from data received by the Company.