Premium Sources (TSXV: PREM) (OTC Pink: PRMLF) introduced high-grade assay outcomes from useful resource reclassification drilling at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North Underground (SNUG) mine in Botswana.
Premium Sources Confirms Excessive-Grade Copper-Nickel Zone in Botswana, Begins Useful resource Growth.
Vancouver, BC, April 22, 2025 – Sponsored content material disseminated on behalf of Premium Sources. On April 17, 2025, Premium Sources (TSXV: PREM) (OTC Pink: PRMLF) introduced high-grade assay outcomes from useful resource reclassification drilling at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North Underground (SNUG) mine in Botswana.
Outcomes from a complete of ~34,300 metres over 80 holes, together with the 17 holes reported herein, weren’t included within the mineral useful resource estimate (MRE).
“We picked up Selebi in 2022,” Morgan Lekstrom, CEO of PREM advised Man Bennett, the CEO of World Shares Information (GSN). “The project had been shut down because of a failure at the smelter. We wanted to determine that there was enough resource left in the ground to justify restarting the mine and developing a new processing facility. The infill drill program has confirmed the continuity of the high-grade copper and nickel at Selebi.”
“Given the conversations we’ve been having with major mining corporations and the intensified search for new critical mineral supply chains, we believe the best way to grow shareholder value is to expand the resource,” continued Lekstrom.
“These assay results continue to highlight Selebi North’s strong mineralization, which remains open down-plunge and down-dip beyond the known resource,” acknowledged Lekstrom within the April 17, 2025 press release.
“This marks the completion of our infill drill program, and our focus now shifts to high-impact resource growth through an accelerated expansion drilling strategy.”
Premium Sources has printed detailed 3D modeling.
“A geophysical technique called Borehole Electromagnetic (BHEM) has pointed us in the direction of a potential new mineralized horizon 150 metres beneath the Selebi Main resource,” Sharon Taylor, PREM VP of Exploration advised GSN.
“BHEM results correlate directly with massive sulphides,” continued Taylor. “It is designed to identify and locate conductive ore bodies. It works extremely well when the sulphides are interconnected. Graphite is also conductive and can be a ‘nuisance conductor’, but we do not have graphite at Selebi.”
Upcoming Plans:
Hinge Drilling Between Selebi Mine Deposits – Floor drilling program concentrating on BHEM plates within the untested 2-kilometre-long space between the Selebi North and Selebi Principal deposits known as the hinge. These BHEM targets probably characterize further mineralization between the 2 deposits.
Selebi North Underground Useful resource Growth Drilling – Exploring alongside strike, down-dip and down-plunge of the Mineral Useful resource Estimate footprint, concentrating on useful resource enlargement and specializing in areas with sturdy BHEM response from the N3, N2 and South Limbs.
Selebi Mine Underground Growth – Growth of a dual-purpose exploration drift from Selebi North is about to begin quickly. It will allow each in-fill drilling and exploration drilling at Selebi North.
On March 18, 2025 it was introduced {that a} consortium of institutional traders made sizable early bets on the way forward for Premium’s Botswana property. The $46 million non-brokered fairness financing included the participation of the Fiore Administration and Advisory Company, headed by Frank Giustra.
The underground Selebi Mines have been in manufacturing between 1980 and 2016. Each Selebi and Selebi North mines, having produced 40 million tonnes of ore, have been put into Care & Upkeep attributable to low steel costs and a failure of the on-site smelter. The underground Selkirk Mine operated between 1989 and 2002 and produced 1 million tonnes of high-grade ore.
“The mining laws in Botswana are similar to those of Canada,” Lekstrom advised GSN. “It’s a positive environment for Canadian mining corporations to operate. Botswana follows the same environmental and regulatory rules that we are accustomed to.”
Current curiosity within the Selebi and Selkirk Mines has been catalysed by a surge in demand for essential metals required for the inexperienced power transformation (Photo voltaic, EVs). Within the final 5 years, as demand drivers intensify, the price of copper has elevated 92% – from USD $2.36/lb to $4.50/lb.
Concurrent with the March 18, 2025 $46 million financing, PREM introduced that the Cymbria Company, an affiliate of PREM’s largest shareholder, EdgePoint Funding Group, transformed $20.8 million of debt into shares. EdgePoint manages about $40 billion in international property.
The $67 million whole recapitalization of PREM is a validation of the premise that Selebi and Selkirk can play a job in serving to the Western world to decouple from China’s essential mineral provide chains.
“Premium Resources has been reactivated with new money, new talent and new ideas,” Lekstrom advised GSN. “One of the most important things we have done is to institute systematic surveying of holes with BHEM. We’ve reopened about 130 old BCL holes that were drilled in the 1990s, surveyed them with BHEM techniques and generated a lot of exciting new targets.”
The technical info offered on this information launch has been reviewed and authorized by Sharon Taylor, Vice President Exploration, who’s the Certified Particular person for technical disclosure at Premium Sources, as outlined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
Contact: man.bennett@globalstocksnews.com
Disclaimer: Premium Sources paid World Shares Information (GSN) $1,750 for the research, writing and dissemination of this content material.
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