Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) announced high-grade assay results from resource reclassification drilling at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North Underground (SNUG) mine in Botswana.
Premium Resources Confirms High-Grade Copper-Nickel Zone in Botswana, Begins Resource Expansion.
Vancouver, BC, April 22, 2025 – Sponsored content disseminated on behalf of Premium Resources. On April 17, 2025, Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) announced high-grade assay results from resource reclassification drilling at its past-producing nickel-copper-cobalt sulphide (Ni-Cu-Co) Selebi North Underground (SNUG) mine in Botswana.
Results from a total of ~34,300 metres over 80 holes, including the 17 holes reported herein, were not included in the mineral resource estimate (MRE).
“We picked up Selebi in 2022,” Morgan Lekstrom, CEO of PREM told Guy Bennett, the CEO of Global Stocks News (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,” stated Lekstrom in 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 Resources has published 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 told 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 – Surface drilling program targeting BHEM plates in the untested 2-kilometre-long area between the Selebi North and Selebi Main deposits referred to as the hinge. These BHEM targets potentially represent additional mineralization between the two deposits.
Selebi North Underground Resource Expansion Drilling – Exploring along strike, down-dip and down-plunge of the Mineral Resource Estimate footprint, targeting resource expansion and focusing on areas with strong BHEM response from the N3, N2 and South Limbs.
Selebi Mine Underground Development – Development of a dual-purpose exploration drift from Selebi North is set to commence soon. This will permit both in-fill drilling and exploration drilling at Selebi North.
On March 18, 2025 it was announced that a consortium of institutional investors made sizable early bets on the future of Premium’s Botswana assets. The $46 million non-brokered equity financing included the participation of the Fiore Management and Advisory Corporation, headed by Frank Giustra.
The underground Selebi Mines were in production between 1980 and 2016. Both Selebi and Selebi North mines, having produced 40 million tonnes of ore, were put into Care & Maintenance due to low metal prices 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 told 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.”
Recent interest in the Selebi and Selkirk Mines has been catalysed by a surge in demand for critical metals required for the green energy transformation (Solar, EVs). In the last five years, as demand drivers intensify, the price of copper has increased 92% – from USD $2.36/lb to $4.50/lb.
Concurrent with the March 18, 2025 $46 million financing, PREM announced that the Cymbria Corporation, an affiliate of PREM’s largest shareholder, EdgePoint Investment Group, converted $20.8 million of debt into shares. EdgePoint manages about $40 billion in global assets.
The $67 million total recapitalization of PREM is a validation of the premise that Selebi and Selkirk can play a role in helping the Western world to decouple from China’s critical mineral supply chains.
“Premium Resources has been reactivated with new money, new talent and new ideas,” Lekstrom told 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 information presented in this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration, who is the Qualified Person for technical disclosure at Premium Resources, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
Contact: guy.bennett@globalstocksnews.com
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