Premium Resources Ltd. (PRMLF) Announces Significant Mineralization Expansion at Selebi North Underground Project
Toronto, Ontario – May 27, 2025 – Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) is making waves, announcing promising drilling results at its Selebi North Underground (SNUG) project in Botswana. The latest data indicates a substantial expansion of the mineralized zones, sending a clear signal to investors about the project’s potential.
The key takeaway? Drill hole SNUG-25-186 intersected South Limb mineralization over an impressive 16.20 meters. Even more compelling, this find is located 132 meters down-plunge from the previously announced SNUG-25-184 hole. This strategic placement is crucial; it demonstrates the increasing depth and continuity of the valuable mineral deposits.
These recent drill results, when combined, have extended the South Limb mineralization by a remarkable 315 meters down-plunge beyond the existing 2024 resource model’s lower boundary. Considering the implications, this marks a significant leap forward in understanding the full scope of the SNUG project.
Borehole electromagnetic (BHEM) surveys paint an even more promising picture, suggesting thicker mineralization zones northwest of SNUG-25-186. This hints at the potential for even greater resource expansion as drilling continues. Currently, the resource has a down-plunge extent of 965 meters, but with the ongoing drilling efforts, Premium Resources is clearly aiming higher. Follow-up drilling with SNUG-25-189 is already underway, and investors can anticipate assay results from the 2025 drill holes in early July.
The “news-card-takes” are:
* Positive: (1) Successful extension of South Limb mineralization by 315 meters beyond current resource boundaries; (2) Existing resource shows strong grades over 3% CuEq; (3) BHEM surveys indicate potential for thicker mineralization zones; and (4) Use of high-precision drilling enabled by advanced BHEM technology and deep understanding.
* Negative: (1) Assay results for 2025 drill holes not yet available until July; and (2) Further drilling needed to confirm continuity and scale of mineralization.
Morgan Lekstrom, CEO of Premium Resources, expressed his confidence in the project’s future: “The significant step-outs and ongoing expansion that we are achieving, in the time frame, clearly illustrates that this deposit expands well beyond the boundaries of the current resource area. Given the strong grades in our existing resource well over 3% CuEq, each successful step-out highlights the potential that was previously undefined. Our use of BHEM and our deep understanding of the technology has enabled us to target and drill these step-downs with a high degree of precision. While the current resource has a down-plunge extent of 965 metres, our drilling has intercepted more massive sulphides (host to the copper, nickel, and cobalt) and extended the deposit by approximately 315 metres. We have several exciting initiatives running in parallel which we look forward to sharing with the market very soon.”
Next Steps: the company will continue follow-up drilling with drill hole SNUG-25-189 . This will target the area between SNUG-24-096-W1 and SNUG-25-184 to further evaluate the continuity and scale of the mineralized systems. Assay results are expected to be released as they become available this coming July.
The BHEM surveys are operated by local Batswana staff. Survey data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources.
The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.
PREM is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper, and cobalt resources mines owned by the Company in the Republic of Botswana.
**FAQ**
* **What are the latest drilling results from Premium Resources (PRMLF) at Selebi?**
Premium Resources’ latest drilling at Selebi North Underground intersected South Limb mineralization over 16.20 metres and extended the mineralization by 315 metres down-plunge from the 2024 resource model’s lower extent.
* **What is the current resource grade at Premium Resources’ Selebi project?**
The existing resource at Selebi shows grades well over 3% Copper Equivalent (CuEq).
* **When will Premium Resources (PRMLF) release the 2025 drill hole assays for Selebi?**
The assay results for 2025 drill holes at Selebi are expected to be released in early July.
* **What is the down-plunge extent of Premium Resources’ current Selebi resource?**
The current resource at Selebi has a down-plunge extent of 965 metres.
* **What technology does Premium Resources use for drilling at Selebi?**
Premium Resources uses Borehole Electromagnetic (BHEM) surveys with the Crone PEM system, operated by local Batswana staff, utilizing a 3-component fluxgate probe collecting full waveform data.
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