Premium Resources Ltd. has prepared an initial MRE for the Selkirk Mine, effective November 1, 2024, under NI 43-101 standards. The finalized technical report will be filed on SEDAR+ once complete.
See news release dated November 27, 2024 - or by clicking here >
- The initial MRE was prepared using results from 232 surface and 10 underground historical drillholes drilled between 2003 and 2016, five 2016 drillholes sampled by PREM in 2021, and 17 historical drillholes resampled in 2024.
- Analytical results from PREM re-sampling showed higher PGE values compared to historic results and additional resampling is expected to result in higher Pt and Pd grades and contained metal.
- The initial MRE was prepared under the conceptual processing scenario of producing two separate concentrates. Additional work on alternate processing options may result in higher recoveries.
- Cobalt, a potentially valuable by-product, has not been included in the initial MRE as cobalt analyses are not consistently available throughout the deposit. Planned metallurgical studies will determine payability of cobalt at the Selkirk Mine.
*CuEq% calculated using the formula Cu% + Ni%*(55.605/53.913) + Pd g/t*(22.948/53.913) + Pt g/t*(14.891/53.913) using metal prices and recoveries listed below in Notes.
**NiEq% calculated using the formula Ni%+Cu%*(53.913/55.605) + Pd g/t*(22.948/55.605) + Pt g/t*(14.891/55.605) using metal prices and recoveries listed below in Notes.
*** PdEq g/t calculated using the formula Pd g/t+Cu%*(53.913/22.948) + Ni%*(55.605/22.948) + Pt g/t*(14.891/22.948) using metal prices and recoveries listed below in Notes.
Notes: 1.CIM (2014) definitions were followed for mineral resources. | 2.Mineral resources are estimated at a NSR cut-off value of $25/t. | 3.Mineral resources are estimated using long-term prices of US$10.50/lb Ni, US$4.75/lb Cu, US$1,450/oz Pt and US$1,500/oz Pd, and a US$: BWP exchange rate of 1.00:13.23. | 4.Mineral Resources are estimated using nickel, copper, palladium, and platinum recoveries of 60%, 70%, 59%, and 59%, respectively, derived from metallurgical studies which consider a conceptual two concentrate scenario. | 5.Bulk density has been estimated. | 6.Mineral resources are reported within an optimized pit shell. | 7.There are no mineral reserves. | 8.Mineral resources that are not mineral reserves do not have demonstrated economic viability. | 9.Totals may not add or multiply accurately due to rounding.
