TSXV:PEM.P - Post by User
Comment by
coffintraderon Nov 20, 2011 7:19pm
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Post# 19252763
Frazer Mackenzie Target over $1.50
Frazer Mackenzie Target over $1.50I won't get into too much detail or give out the exact target but Frazer Mackenzie has recent research on November 17th with an affirmed target of over $1.50 a share. They seem to like it very much... Always do your DD.
PEM Extends Strike by 200 Metres
Event
·PremiumExploration released assay results from its Friday zone at its IdahoGold project, extending the strike length by 200 metres. The resultscontinue to support our 2.7 million ounce thesis.
·Highlights include (see map):
oPFR2011-18: 0.5 g/tonne gold over 124.7 metres, including 1.8 g/tonne gold over 10.1 metres.
·Thecompany also provided an exploration update on its Deadwood and Fridayzones. The company has drilled 5,917.9 metres in nine holes and 4,374.2metres in 18 holes at Deadwood and Friday, respectively of which only25% have been reported.
Discussion
·Thedrill results released today have extended the potential drill testedstrike by 200 metres to the south of known mineralization at the Fridayzone. The grades remain consistent with previously released drill holesand help to confirm our potential ounce estimate of 1.5 million ouncesat Friday-Petsite. Overall, these results help to build towards ourtotal estimate of 2.7 million potential ounces.
·Weview this as a positive development for the Idaho Gold project and inparticular the Friday zone as it continues to demonstrate thatmineralization could extend further south.We are anticipating assays from the current drilling in the comingweeks as results for only 25% of the holes drilled to-date have beenreleased.
·Usinga probability-weighted calculation, we currently estimate that PremiumExploration has potential for 2.7 million ounces of gold. We maintainour Strong Buy recommendation and our 12 month price target $1.-- pershare.