Premium Exploration, Inc. (OTC: PMMEF) , a mining company that has projects in USA and Mexico, recently announced the appointment of Howard M. Crosby to its Board of Directors.
He will replace Cesar Lopez, who has just retired.
In a release published in MarketWatch.com, Premium Exploration's Chairman of the Board John Ryan said, "On behalf of the Board of Directors, I would like to welcome Howard to the Board and thank Cesar for his time and contributions to Premium, and wish him the best of success in his future projects."
Lopez was appointed to the Board in November 2013. He is the founder of the Santiago-based law firm Lopez & Ashton and has had 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.
Meanwhile, Crosby 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.
For the past ten years in Canada, he was also an officer or director for High Plains Uranium, Apoquindo Minerals, Seafield Resources, and Southern Legacy Minerals.
He 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 graduated from the University of Idaho in 1974.
Idaho is the location of one of Premium Exploration's most important projects. The Idaho Gold Project is a re-emerging mining district. The company believes that it holds several bulk tonnage deposits within the 180-square kilometer area.
Premium Exploration's Idaho Gold Project is divided into six contiguous zones: the Buffalo Gulch Zone, the Deadwood Zone, the Friday Zone, the Monday Zone, the X Zone and the Lucky Strike Zone.
The company is banking on the site to produce multiple deposits. Since its first program in 2009, the company has drilled 24,000 meters in area, resulting in eight gold discoveries along the 20 kilometer strike location. Anomalous gold mineralization was also encountered in 99.9% of the drilling operations.
Of the whole property, 50% has been systematically grid soil sampled while 3 kilometers of the 16 kilometer area of co-incident gold-in-soil and geophysical trends have been drill tested.
"This provides tremendous exploration upside potential and is the focus of the 25,000 meter planned Phase-Four Exploration Program currently underway," the company said.
Back in 2011, Premium Exploration received $1,912,500 for the exploration of 30 kilometers 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.