Premium Resources Confirms High-Grade Copper-Nickel Zone in Botswana, Begins Resource Expansion
(TheNewswire)
Vancouver, BC, April 22, 2025 – TheNewswire -Sponsored content disseminated on behalf of Premium Resources. OnApril 17, 2025, Premium Resources (TSXV: PREM) (OTC Pink: PRMLF)announced high-grade assay results from resource reclassification drilling at itspast-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi NorthUnderground (SNUG) mine in Botswana.
Results from a total of ~34,300 metres over 80 holes, including the 17holes reported herein, were not included in the mineral resourceestimate (MRE).
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“We picked up Selebi in 2022,” Morgan Lekstrom, CEO of PREM toldGuy Bennett, the CEO of Global Stocks News (GSN). “The project hadbeen shut down because of a failure at the smelter. We wanted todetermine that there was enough resource left in the ground to justifyrestarting the mine and developing a new processing facility. Theinfill drill program has confirmed the continuity of the high-gradecopper and nickel at Selebi.”
“Given the conversations we’ve been having with major miningcorporations and the intensified search for new critical mineralsupply chains, we believe the best way to grow shareholder value is toexpand the resource,” continued Lekstrom.
“These assay results continue to highlight Selebi North's strongmineralization, which remains open down-plunge and down-dip beyond theknown resource,” stated Lekstrom in the April 17, 2025 pressrelease.
“This marks the completion of our infill drill program, and ourfocus now shifts to high-impact resource growth through an acceleratedexpansion drilling strategy.”
Premium Resources has published detailed 3D
modeling.
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“A geophysical technique called Borehole Electromagnetic (BHEM) haspointed us in the direction of a potential new mineralized horizon 150metres beneath the Selebi Main resource,” Sharon Taylor, PREM VP ofExploration told GSN.
“BHEM results correlate directly with massive sulphides,”continued Taylor. “It is designed to identify and locate conductiveore bodies. It works extremely well when the sulphides areinterconnected. Graphite is also conductive and can be a ‘nuisanceconductor’, but we do not have graphite at Selebi.”
Upcoming Plans:
Hinge Drilling Between Selebi MineDeposits - Surface drilling program targeting BHEM plates inthe untested 2-kilometre-long area between the Selebi North and SelebiMain deposits referred to as the hinge. These BHEM targets potentiallyrepresent additional mineralization between the two deposits.
Selebi North Underground ResourceExpansion Drilling - Exploring along strike, down-dip anddown-plunge of the Mineral Resource Estimate footprint, targetingresource expansion and focusing on areas with strong BHEM responsefrom the N3, N2 and South Limbs.
Selebi Mine Underground Development -Development of a dual-purpose exploration drift from SelebiNorth is set to commence soon. This will permit both in-fill drillingand exploration drilling at Selebi North.
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On March 18, 2025 it was announced that a consortium of institutionalinvestors made sizable early bets on the future of Premium’s
Botswana assets. The $46 millionnon-brokered equity financing included the participation of theFiore Management and Advisory Corporation, headed by Frank Giustra.
The underground Selebi Mineswere in production between 1980 and 2016. Both Selebi and Selebi Northmines, having produced 40 million tonnes of ore, were put into Care& Maintenance due to low metal prices and a failure of the on-sitesmelter. The underground SelkirkMine operated between 1989 and 2002 and produced 1 milliontonnes of high-grade ore.
“The mining laws in Botswana are similar to those of Canada,”Lekstrom told GSN. “It’s a positive environment for Canadianmining corporations to operate. Botswana follows the sameenvironmental and regulatory rules that we are accustomed to.”
Recent interest in the Selebi and Selkirk Mines has been catalysed bya surge in demand for critical metals required for the green energytransformation (Solar, EVs). In the last five years, as demanddrivers intensify, the price of copper has increased 92% - from USD$2.36/lb to $4.50/lb.
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Concurrent with the March 18, 2025 $46 million financing, PREMannounced that the Cymbria Corporation, an affiliate of PREM’slargest shareholder, EdgePoint Investment Group, converted $20.8million of debt into shares. EdgePoint manages about $40 billion inglobal assets.
The $67 million total recapitalization of PREM is a validation of thepremise that Selebi and Selkirk can play a role in helping the Westernworld to decouple from China’s critical mineral supply chains.
“Premium Resources has been reactivated with new money, new talentand new ideas,” Lekstrom told GSN. “One of the most importantthings we have done is to institute systematic surveying of holes withBHEM. We've reopened about 130 old BCL holes that were drilled in the1990s, surveyed them with BHEM techniques and generated a lot ofexciting new targets.”
The technical information presented in this news release has beenreviewed and approved by Sharon Taylor, Vice President Exploration,who is the Qualified Person for technical disclosure at PremiumResources, as defined by NI 43-101 “Standards of Disclosure forMineral Projects”.
Disclaimer: Premium Resources paid Global Stocks News (GSN) $1,750 forthe research, writing and dissemination of this content.
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