To my pleasant surprise, 6 to 8 geologists have been busy working on studying all results thus far and updating PEM's "treasure map" as to where best to drill. With virtually 100% success so far in their drilling targets, hopefully the gold sector correction will end "within" the next few weeks or months, and PEM's upcoming infill drilling target results, will continue to be impressive. It is believed PEM can double their ounces to somewhere in the 2m ounce range if it is decided sufficient funding exists, for the short term, to allow for drilling during this ongoing precious metals market downturn, once the BCSC 43-101 review process is concluded. In any event, I'm sure Del Steiner knows he will need to preserve, or obtain, sufficient cash to pay the bills should the gold sector market correction last longer than most expected, which it already has.

Furthermore, 2m to 3m ounces of gold is often seen as the magic number to achieve. If average grams per ton continue (+or-), and if economically mineable, 2m or 3m ounces could be more than enough to support and justify a mining operation for a generation or more. PEM could be well on it's way to prominence and conspicusous distinction, as it advances towards becoming one of the rarest of rare explorers worldwide. It may be only a year or so, away. Additionally, given sufficient funding, I am personally unequivically convinced there are many millions more ounces of gold (and silver) on the OSZ for PEM's noteworthy staff to define. In this sector downturn, which could worsen before it blasts off again, I suspect PEM must financially proceed with caution. They will need to insure sufficient funding to weather out the ongoing gold correction for whatever positive catalyst is hopefully in the making.

Below is the link to the latest Al Korelin interview with PEM CEO Del Steiner. Another interview may be available later this week. In the interim, our sincere thanks goes out to PEM's noteworthy geology team. They have more than earned our respect and praise.

http://www.kereport.com/2012/08/13/premium-exploration-update-2/