Significant Assay Results Announced by Premium Resources Ltd. at Selebi North Underground Mine
Toronto, Ontario – Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (“PREM” or the “Company”), a mining exploration and development company, recently announced impressive assay results from two holes drilled outside of the Mineral Resource Estimate (MRE) at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North underground (SNUG) mine in Botswana. The discovery of high-grade mineralization in these holes has the potential to expand the MRE and increase the economic potential of the SNUG mine.
Background on Selebi North Underground Mine
The Selebi North Underground Mine is located in the Selebi Phikwe Mining Complex in Botswana. It was previously operated as a primary nickel and copper producer from 1972 to 2001. The mine was closed due to low global commodity prices and operational challenges. PREM acquired the Selebi Phikwe Mining Complex in 2019 and has since been working on redeveloping the mine.
Assay Results from Two Holes
The two holes, SNUG-25 and SNUG-26, were drilled outside of the current MRE and returned impressive results. SNUG-25 intersected 13.85 meters (m) of 0.74% nickel (Ni), 0.82% copper (Cu), and 0.03% cobalt (Co), including 2.65m of 1.08% Ni, 1.21% Cu, and 0.05% Co. SNUG-26 intersected 16.5m of 0.71% Ni, 0.81% Cu, and 0.03% Co, including 5.5m of 1.01% Ni, 1.13% Cu, and 0.05% Co.
Impact on PREM and the Mining Industry
The discovery of high-grade Ni-Cu-Co mineralization outside of the current MRE is a significant development for PREM. These results could lead to an expansion of the MRE and potentially increase the economic potential of the SNUG mine. The successful drilling results also demonstrate the potential for further discoveries in the area. This could lead to increased investor interest in PREM and the mining sector as a whole.
Impact on Consumers
The mining industry plays a crucial role in the production of various metals and minerals, including nickel, copper, and cobalt. These metals are essential in the production of various consumer goods, such as electric vehicles, batteries, and stainless steel. The discovery of high-grade Ni-Cu-Co mineralization at the SNUG mine could lead to an increase in the supply of these metals, potentially leading to lower prices and increased availability for consumers.
Conclusion
Premium Resources Ltd.’s recent announcement of significant assay results from two holes drilled outside of the current Mineral Resource Estimate at its Selebi North Underground Mine in Botswana is a positive development for the company and the mining industry. The discovery of high-grade Ni-Cu-Co mineralization has the potential to expand the MRE and increase the economic potential of the SNUG mine. Furthermore, the successful drilling results could lead to increased investor interest in PREM and the mining sector as a whole. Additionally, the increased supply of nickel, copper, and cobalt could lead to lower prices and increased availability for consumers. The future looks bright for PREM and the mining industry as a whole.
- Premium Resources Ltd. announces significant assay results from two holes at Selebi North Underground Mine
- High-grade Ni-Cu-Co mineralization discovered outside of current MRE
- Potential expansion of MRE and increased economic potential of SNUG mine
- Increased investor interest in PREM and the mining sector
- Potential for lower prices and increased availability of Ni, Cu, and Co for consumers
