Premium Resources Ltd. reported encouraging drill results from its Selebi Mines project in Botswana, revealing noted copper equivalent grades that exceed previous resource estimates. The company is set to ramp up drilling efforts and has raised CA$44 million in funding. Analysts express confidence in the company’s growth potential, with a target return of 194%.
Premium Resources Ltd. (PREM:TSX.V) disclosed promising drill results from its underground Selebi Mines project in Botswana, highlighting two significant intercepts beyond the previous mineral resource boundaries. Top findings included 14.2 meters of 5.14% copper equivalent from hole SNUG-24-172 and 14.4 meters of 3.99% copper equivalent from hole SNUG-24-144, both extending the known mineralization at depth. In a February 3 report, Dr. Stefan Ioannou from Cormark Securities noted that these grades surpass the existing resource average of 3.25% copper equivalent.
In summary, Premium Resources is poised for growth following positive drilling results at the Selebi Mines, which exceed current resource levels. With support from strategic investors and upcoming drilling plans, the company aims to enhance its project potential. Market fundamentals remain favorable for copper, indicating a promising outlook for Premium Resources in the evolving energy landscape.
Original Source: www.streetwisereports.com
