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Highlights

  • 12-hole surface drill program underway to validate legacy data and expand Cu-Ni-Co-PGE resource
  • 34 additional historical holes identified for resampling to support updated mineral resource estimate
  • Metallurgical testing to inform flowsheet development and potential upgrade of 44.2Mt Inferred MRE

Premium Resources Ltd.(TSXV: PREM, OTC Pink: PRMLF) has commenced a surface drilling campaign at its Selkirk Mine project in Botswana. The 12-hole program is designed to support resource reclassification, validate historical data, and facilitate future development decisions. The site, which produced approximately 1 million tonnes of ore between 1989 and 2002, contains copper, nickel, cobalt, and platinum group elements (Cu-Ni-Co-PGE) in sulphide mineralization.

The current phase includes twinning of historic drill holes and continued resampling of legacy core. In 2024, 17 historical holes were resampled to expand PGE datasets, and 34 more holes have now been selected for similar analysis. These results will feed into a future update of the National Instrument 43-101 (“NI 43-101”) compliant mineral resource estimate.

The project’s existing NI 43-101 Inferred resource stands at 44.2 million tonnes, and Premium Resources is aiming to upgrade part of this resource to the Indicated category. Metallurgical test work is running in parallel, with the objective of refining orebody domain models and supporting the development of a metallurgical flowsheet. Preliminary X-ray Transmission (XRT) ore-sorting tests are also planned using new HQ core samples.

Historical work at Selkirk includes a 2006 NI 43-101 technical report from LionOre Mining and a 2013 resource estimate under JORC Code, which outlined a combined historical Measured & Indicated resource of 128.4 Mt at 0.21% Ni and 0.23% Cu, and an Inferred resource of 123.8 Mt at 0.17% Ni and 0.19% Cu.

As drilling progresses, the company plans to release regular updates, including results from metallurgical testing and potential changes to the mineral resource classification.