- Premium Resources (PRMLF, Financial) commences a 12-hole drilling program at Selkirk Mine, Botswana.
- Historical production included 1 million tonnes at 2.6% Ni and 1.5% Cu.
- The current program aims to expand and upgrade a 44.2Mt Inferred resource.
Premium Resources Ltd. (PRMLF) has initiated a surface drilling program at its Selkirk copper-nickel-cobalt-PGE mine in Botswana. The program involves 12 drill holes designed to validate historical data and support future resource model updates. This effort is part of the company's strategy to enhance and possibly reclassify its existing 44.2 million tonnes Inferred Mineral Resource Estimate.
The Selkirk Mine, which operated from 1989 to 2002 under Anglo American, produced historically 1 million tonnes of high-grade massive sulphides with 2.6% nickel and 1.5% copper. Premium Resources is also resampling 17 historical drill holes completed in 2024 and has identified an additional 34 holes for similar analysis. This initiative is expected to provide critical data for metallurgical optimization and resource expansion.
Additionally, Premium Resources has engaged ICP Securities Inc. to offer automated market making services, with a four-month contract costing C$7,500 per month. This move aims to improve liquidity and correct temporary supply-demand imbalances of the company's shares.
As the drilling progress unfolds and metallurgical tests advance, Premium Resources will continue to update stakeholders on the program's development. The overarching goal is to transition the current inferred resources to the indicated category, thus paving the way for future development decisions.
