The Deadwood Zone covers approximately 35 km2 between the Buffalo Gulch and Friday Zones in the heart of the Idaho Gold Project that exhibits intriguing structural complexity.
A 12 km gold-in-soil anomaly trends through the Buffalo Gulch and Deadwood Zones that correlates with the 30 km Orogrande Shear Zone structural target identified by geophysics. The 30 km geophysical anomaly links Deadwood with Buffalo Gulch to the north and the Friday, Monday and X Zones to the south.
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Deadwood Zone Phase 4 Assay Summary
Signs of mineralization at surface are abundant and there are numerous additional gold-in-soil anomalies that correlate with multiple cross-cutting structures, historic mines, adits, placer deposits and prospects throughout the zone, making Deadwood very target rich.
Limited, shallow RC drilling by previous operators delineated an indicated and inferred resource of 38,940 Indicated oz gold in 1.6 Mt at 0.75 g/t Au with 0.4 g/t Au cut-off * and 18,480 Inferred oz gold in 0.7 Mt at 0.75 g/t Au with 0.4 g/t Au cut-off* within 1.0 km of the 12 km gold-in-soil and geophysical trend.
Drilling was focused on delineating near-surface oxide mineralization targeting gold-in-soil anomalies. Potential high-grade structural mineralization at depth was not investigated and the deposit remains open along strike and depth.
Exploration in the 35 km2 Deadwood Zone is an aggressive campaign to make new discoveries utilizing our new structural geologic model and exploration strategy, as well as, following up on the historic deposit.
Premium is also conducting a 10,000 soil campaign throughout the Idaho Gold Project as more than 70% of the property has not been soil sampled. Drilling coincident geophysical and soil anomalies has led to 4 discoveries at the project to date.
*All estimates of gold resources/deposits are historical in nature, predate and are non-compliant with NI 43-101. This historic resource estimate was reviewed by Micon International in 2004. Premium is not treating the historical estimate as current mineral resources or reserves. Premium has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon.