Premium Resources Reports Initial Inferred Resource At Selkirk Mine

Premium Resources (TSXV: PREM) has published an initial mineral resource estimate for its Selkirk Mine in Botswana. The resource focuses on copper, nickel, palladium and platinum values in the mine, while excluding cobalt due to cobalt analyses not be present throughout the deposit.

Highlights from the resource estimate include:

• Inferred resources of 44.2 million tonnes at 0.81% copper equivalent (0.30% copper, 0.24% nickel, 0.55 g/t palladium, 0.12 g/t platinum)
  • Contained metal of 132,000 tonnes copper, 108,000 tonnes nickel, 775,000 ounces of palladium, and 174,000 ounces of platinum

The initial resource estimate is based on 232 surface and 10 underground historical drill holes that were drilled between 2003 and 2016, along with 5 drill holes conducted by Premium Resources in 2021, and 17 historical holes that were resampled this year. Resampled holes are said to have shown higher PGE values than historical data suggests, leaving room for resource expansion with further resampling initiatives.

“This initial MRE serves as a solid foundation for advancing the Selkirk deposit to an economic study. The Company is currently evaluating whether the initial MRE cut-off grade assumptions can be improved through future engineering and metallurgical studies aimed at optimizing the overall efficiency of the mine,” commented Keith Morrison, CEO of Premium Resources.

Premium Resources last traded at $0.475 on the TSX Venture.

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