North Vancouver, BC, Canada (4E) – Mining company Premium Exploration, Inc. (OTC: PMMEF) has announced the appointment of Howard M. Crosby to its Board of Directors to replace Cesar Lopez, who has just retired.
Premium Exploration’s Chairman of the Board John Ryan announced the new director and thanked Lopez for his time and contributions to the company.
Crosby, a graduate of University of Idaho in 1974, has a long track record in the minerals industry and has served for numerous years as an officer of various US-based and UK-based companies. He is the president and director of Shoshone Silver, chairman of Golden Globe Energy, president and director of Wexford Petroleum and director of White Mountain Titanium.
He was also an officer or director for High Plains Uranium, Apoquindo Minerals, Seafield Resources, and Southern Legacy Minerals in Canada for the past 10 years.
Lopez was appointed to the Board in November 2013. He is the founder of the Santiago-based law firm Lopez & Ashton, which has extensive experience in corporate and international law. His law practice focused on the natural resources sector, mostly energy, mining and mineral exploration in North America, Latin America and Europe.
Premium Exploration is developing the Idaho Gold Project, a re-emerging mining district. The company believes that it holds several bulk tonnage deposits within the nearly 70-square mile area.
The company is banking on the site to produce multiple deposits. Since its first program in 2009, the company has drilled more than 26,000 yards in area, resulting in eight gold discoveries along the 12-mile strike location. Anomalous gold mineralization was also encountered in 99.9 percent of the drilling operations.
Of the whole property, 50 percent has been systematically grid soil sampled while 1.86 miles of the 10-mile area of co-incident gold-in-soil and geophysical trends have been drill tested. The company is currently undertaking its 27,340-yard Phase-Four Exploration Program.
Back in 2011, Premium Exploration received $1,912,500 for the exploration of 18.6 miles of its Idaho Gold Project and from the exercise of 6,375,000 warrants. The 629,000 indicated and 146,000 inferred gold ounces in its Friday Zone alone demonstrate tremendous potential for shareholders.
During the last several months, the company has further been raising capital to expand its exploration and drilling of the area. Recently, it sold the Bennett Lumber Company Mill Site and the Red Elk Group’s 13 patented mining claims to New Jersey Mining Corporation for $425,000. It has also been announcing private placements to further boost working capital.