Premium Resources Files NI 43-101 Technical Report: Initial Mineral Resource Estimate of 44.2 MT for the Selkirk Mine in Botswana
Premium Resources Files NI 43-101 Technical
Report: Initial Mineral Resource Estimate of
44.2 MT for the Selkirk Mine in Botswana
Toronto, Ontario--(Newsfile Corp. - January 10, 2025) -
Premium Resources Ltd. (TSXV: PREM)
(OTC Pink: PRMLF) (
"
PREM
" or the "
Company
"
)
is pleased to announce that the Company has filed
an initial Mineral Resource Estimate ("
MRE
") titled "
NI 43-101 Technical Report Selkirk Nickel Project,
North East District, Republic of Botswana
" (the "
Technical Report
") and dated January 8, 2025 (with
an effective date of November 1, 2024) on its past-producing Nickel-Copper-Platinum Group Elements
sulphide ("
Ni-Cu-PGE
") Selkirk deposit in Botswana (the "
Selkirk Mine
").
There are no material differences between the Technical Report and the information presented in this
news release, and the results disclosed in the Company's news release dated November 27, 2024 titled
"Premium Resources Announces Initial Mineral Resource Estimate of 44.2 MT for the Selkirk Mine in
Botswana"
.
The Technical Report has been prepared by SLR Consulting (Canada) Ltd. in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("
NI 43-101
") and is available
electronically on the Company's website at (
www.premiumresources.com
) and on SEDAR+
(
www.sedarplus.ca
) under PREM's issuer profile.
Qualified Persons
The initial MRE described in this news release was reviewed and approved by Valerie Wilson, M.Sc.,
P.Geo. (Ontario) SLR Consulting Ltd. Principal Resource Geologist, who is independent of PREM and a
"qualified person" for purposes of NI 43-101.
Verification included a site visit to inspect historical mineralized core, explore the gossanous outcrop at
surface, observe existing infrastructure, including the Selkirk underground ramp, and inspect several
surface drillhole collar locations. In addition, all of the samples collected by PREM have been verified
against independently accessed assay certificates and a random selection of historical database results
have been compared against digital records.
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 NI
43-101.
Technical Report
The MRE on the Selkirk Mine is supported by the Technical Report. Reference should be made to the full
text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of
which is available on SEDAR+ (
www.sedarplus.ca
) under PREM's issuer profile.
About Premium Resources Ltd.
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.
PREM is committed to governance through transparent accountability and open communication within
our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating
over 400 years of resource discoveries, mine development and mine re-engineering experience on
projects like the Company's Selebi and Selkirk mines. PREM's senior team members have on average
more than 20 years of experience in every single aspect of mine discovery and development, from
geology to operations.
For further information about Premium Resources Ltd., please contact:
Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334
Cautionary Note Regarding Forward-Looking Statements:
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation based on expectations, estimates and projections as at the date of this news
release. Forward-looking information involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. For the purposes of this release, forward
looking information includes, but is not limited to: the response to mineral resource estimates in
Botswana; the support for the redevelopment of the Selkirk Mine from the Botswana Government and
local stakeholders; the ability to upgrade the inferred mineral resources at Selkirk; the publication by the
Company of a future preliminary feasibility study; the implementation of the objectives, goals and future
plans of the Company including the proposed advancement of the Selkirk Mine as currently
contemplated; the ability of exploration activities (including drill results) to accurately predict
mineralization; the timing and ability of the Company to publish an economic study; any discrepancies
between the Technical Report and any scientific and technical information in this news release; the
timing to release of remaining assay results; the ability of the Company to implement its drilling,
geoscience and metallurgical work on its properties and work plans generally; the implementation of the
objectives, goals and future plans of the Company including the proposed advancement of the Selkirk
Mine as currently contemplated; the ability of the Company to define additional or upgrade existing
mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the productivity rates for
mining at Selkirk; the ability to identify additional mineralization down plunge of existing workings and the
ability of such findings to be used to complete a mineral resource estimate and/or to support further
economic studies; the ability and timing of advancing the mining programs at the Selkirk Mine as
contemplated (if at all); the ability to expand the resource potential at the Selkirk Mine; the results of the
mining program at the Selkirk Mine and the timing and disclosures of the Company regarding same; the
benefits of the Company's approach to exploration; management's belief that the Historic Resource
could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the
Company's approach to the resource development plan. These forward-looking statements, by their
nature, require the Company to make certain assumptions and necessarily involve known and unknown
risks and uncertainties that could cause actual results to differ materially from those expressed or
implied in these forward-looking statements. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to, capital and operating costs varying
significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration
results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or
failures to obtain required governmental, environmental or other project approvals; uncertainties relating
to the availability and costs of financing needed in the future; changes in equity markets; inflation;
fluctuations in commodity prices; delays in the development of projects; the other risks involved in the
mineral exploration and development industry; and those risks set out in the Company's public disclosure
record on SEDAR+ (
www.sedarplus.com
) under PREM's issuer profile. Although the Company believes
that the assumptions and factors used in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such information, which only applies as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise, other than as
required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained herein.
Follow Us
X (formally Twitter):
https://twitter.com/Prem_Resources
Linked in:
https://www.linkedin.com/company/Premium-Resources
Facebook:
https://www.facebook.com/PremiumResourcesLtd
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/236881