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Pershimco Confirms Third Significant Copper-Gold System with 73 m @ 1.8 % Cu and 145 m @ 0.91% Cu
Published : August 22, 2013
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Mots clés associés :   Canada | Copper | Panama |

ROUYN-NORANDA, QUÉBEC--(Marketwired - Aug. 22, 2013) - Pershimco Resources Inc. (the "Company" or "Pershimco") (News - Market indicators)(FRANKFURT:BIZ) is pleased to announce that the results of its recent exploration drilling on the Idaida target have confirmed a new copper-gold system. Importantly, this newly revealed system shows both near surface and deeper mineralized feeder structures analogous to the Company's two main targets, La Pava and Quema Deposits, the latter of whose center is located 1.3 km north-west of Idaida.

HIGHLIGHTS OF RECENT DRILLING

TABLE 1

Hole # From To Length Cu   Ag Au
  (m) (m) (m) %   g/t g/t
PRH13316/PDH135316 (Oxide) 5 86 81 0.03 % 2.37 0.31
PRH13316/PDH135316 (Sulphide) 86 159 73 1.77 % 2.03 0.25
PRH13317/PDH135317 (Oxide) 16 51 35 0.03 % 2.64 0.51
PRH13317/PDH135317 (Sulphide) 51 196 145 0.91 % 1.56 0.13
including 51 98 47 2.48 % 3.49 0.31
PDH135317 (deep "feeder" intercept) 388 446 58 0.38 % 0.7 0.07
Including 406 413 7 1.21 % 0.8 0.06
Notes: 
1. Drill hole numbers with prefix "PRH" are Reverse Circulation (RC) drill holes.
2. Drill hole numbers with prefix "PDH" are Diamond drill holes.
3. Drill intersections tabulated under "Intercept" are reported as drilled thicknesses. These intercepts are apparent widths only.

HIGHLIGHTS OF THE IDAIDA DRILLING

  • Extends high-sulphidation alteration and mineralization to depth;
  • Intercepted an oxide gold zone and an underlying sulphide copper-gold zone;
  • Intercepted new high-sulphidation "feeder" zones at depth;
  • Both upper and lower 'feeder" zones flank and dip towards the modeled airborne and ground IP geophysical targets.

Dual Reverse Circulation/Diamond drill holes (RC/DH), PRH13316/PDH135316 ('316') and PRH13317/PDH135317 ('317') are the deepest to date on the Cerro Quema project, and provide important information on the mineralization and alteration system at Idaida as well as other exploration targets within the concession. Both drill holes ('316 & 317') intercepted sulphides commencing at 85 and 50 meters downhole respectively and both continued to show sulphides and alteration to their final depths. Intercepted "feeder" zone mineralization within both the upper and lower levels show similar intense alteration (acid leach - advanced argillic) and moderate to strong sulphide mineralization.

Of particular significance, the lower feeder structure intercepted by drill hole '317' which returned 58m @ 0.38%Cu was enveloped within a broader intercept of 95m @ 0.25%Cu. This intercept showed elevated sulphides (>6%) and hosted within an advanced argillic alteration zone containing pyrophyllite. The dominance of the advance argillic mineral pyrophyllite indicates a higher temperature setting typically found within the 'root zones' of high sulphidation systems.

These "feeder" structures are on the margins of and dip towards the airborne VTEM and ground IP chargeability geophysical anomalies.

Figure 1 below shows the drill hole location plan as well as the location of the IP Chargeability target. Furthermore, a short video demonstrating the location, size and geometry of the Idaida project's IP chargeability anomaly is accessible at http://youtu.be/m8eXp0bsHkA.

During the first half of 2013, Pershimco completed important exploration activities on two new targets outside of the La Pava and Quema-Quemita deposits. This work included:

  • Idaida and Pelona were drill tested, returning significant copper and gold intercepts;
  • 7,195 meters of drilling (RC and diamond) completed;
  • 112.5 Line Kilometers of IP geophysics completed; and,
  • Commenced regional mapping and geochemical sampling program on additional exploration targets identified by previous airborne geophysics.

"The Idaida drilling results are extremely exciting in terms of the significant grades and thicknesses of copper and gold mineralization intersected near surface as well as the discovery of additional feeder structures at depth. The exploration geophysics and geological modeling undertaken by the Pershimco Team is proving to be successful as more targets are being strategically identified and developed. As we have noted previously, this deliberate multi-staged approach continues to prove to be invaluable in building on the success our project," said Alain Bureau, President and CEO of Pershimco.
The information contained in this press release has been reviewed and approved by Mr. John Kapetas, B.Sc. Hons, MAusIMM, MAIG, a Qualified Person under NI 43-101 rules and standards.

ABOUT PERSHIMCO RESOURCES INC.

Pershimco Resources Inc. is a Canadian-based resources and exploration company listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company holds several mining properties in Canada and South America, including the extraction permitted Cerro Quema advanced project in Panama and the Courville Gold Project in the Val-d'Or Gold Mining Camp, being explored in partnership with Osisko Mining Corporation. The Company is managed by skilled and reputable people with extensive mining, exploration and development experience. The Pershimco Team and its investors are the keys to its success.

The Company's documents are available on www.sedar.com.

Please visit the Company's website at www.pershimco.ca.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statement.

To view the map asociated with this release, please visit the following link: http://media3.marketwire.com/docs/Idaida_Level260_Drills_Fig2.pdf.



Alain Bureau, P. Eng
President and Chief Executive Officer
+1 (819) 797-2180
ressources@pershimco.ca
or
Elina Chow
Investor Relations
+1 (416) 845-8495
info@pershimco.ca
Données et statistiques pour les pays mentionnés : Canada | Panama | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Panama | Tous

Pershimco Resources

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CODE : PRO.V
ISIN : CA76126F1053
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Pershimco Res. est une société développant des projet miniers d'or basée au Canada.

Pershimco Res. est productrice d'or, d'argent, de cuivre, de plomb et de zinc au Mexique.

Son principal projet en production est CUSI au Mexique et ses principaux projets en exploration sont CERRO QUEMA au Panama, COURVILLE au Canada et MAGISTRAL ( PERSHIMCO) au Mexique.

Pershimco Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 8,9 millions CA$ (7,1 millions US$, 6,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 30 mars 2012 à 1,54 CA$, et son plus bas niveau récent le 25 novembre 2022 à 0,02 CA$.

Pershimco Res. possède 295 500 000 actions en circulation.

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Rapports annuels de Pershimco Resources
Rapport Annuel 2008
2008 Annual Report
2007 Annual Report
Financements de Pershimco Resources
06/06/2011Finalizes a Private Placement of $6,000,000 With Strategic P...
12/05/2011Completes a $ 3M Financing
02/02/2010announces the second closing of its private placement
13/01/2010announces the first closing of its private placement
21/12/2009 announces it intent to proceed with a private placement...
17/12/2009announces the closing of its flow-through private placement
09/12/2009Private Placement
Attributions d'options de Pershimco Resources
15/02/2011Grant of 250,000 stock options
Nominations de Pershimco Resources
14/03/2013Announces Resignation of Senior Officer
08/04/2011Appoints Serge Biron to lead the Pershimco Exploration Team ...
07/03/2011Appoints Jean Robitaille as Director
Projets de Pershimco Resources
25/07/2013(Cerro Quema)Gains Support for Deeper Geologic Potential at Cerro Quema P...
18/06/2013(Cerro Quema)Exploration Results Support Deeper Geological Potential at P...
22/02/2012New press release. Pershimco Resources
20/05/2011(Cerro Quema)Pershimco Advances Drilling and Sampling at Cerro Quema
19/05/2011(Cerro Quema)Advances Drilling and Sampling at Cerro Quema
26/04/2011(Courville)and Abitex Set Up Strategic Alliance to Develop the Courvill...
30/03/2011(Cerro Quema)Reports on the Progress of the 2011 Exploration Campaign in ...
Communiqués de Presse de Pershimco Resources
22/03/2016Panamanian Government Exonerates Pershimco Of Taxes - Furthe...
25/01/2016Pershimco Announces Shareholder Meeting Results
24/08/2015Pershimco Finances Cerro Quema To Complete All Engineering A...
12/03/2015Pershimco's Board Welcomes Former Rio-Tinto Mining Engineer ...
12/03/2015Board Welcomes Former Rio-Tinto Mining Engineer Angelina Meh...
12/03/2015Pershimco's Board Welcomes Former Rio-Tinto Mining Engineer ...
27/01/2015Pershimco Discovers New Gold-Copper-Molydenum Trend at its C...
19/01/2015Pershimco Files its Environmental and Social Impact Study fo...
12/11/2014Pershimco Acquires All Surface Rights for its 10,000 tpd Ope...
30/10/2014Pershimco Announces Shareholder Meeting Results
03/10/2014Pershimco Resources Inc.: Grant of Incentive Stock Options
29/09/2014Pershimco Increases its NPV with the Purchase of the NSR on ...
11/09/2014Pershimco Appoints Pierre Monet as Vice-President Finance an...
25/08/2014Pershimco Files NI 43-101 Following Release of Robust PFS on...
13/08/2014Pershimco Intercepts Porphyry Indicators Covering a Minimum ...
08/07/2014Pershimco Reports Solid PFS on Cerro Quema Gold Oxide Projec...
25/09/2013Provides Update on Annual Shareholders' Meeting
28/08/2013Former Codelco Director, Jorge Bande, to Be Nominated at Per...
22/08/2013Confirms Third Significant Copper-Gold System with 73 m @ 1....
13/08/2013(Cerro Quema)Buys Back 70% of Cerro Quema NSR
31/07/2013Pierre Bureau Joins Pershimco's Team as Project Management C...
31/07/2013Pierre Bureau Joins Pershimco's Team as Project Management C...
23/05/2013Announces Corporate Changes
20/03/2013Reports Average 92.8% Gold Recovery from Oxide Metallurgical...
19/02/2013Continues to Extend Mineralised Trend by Drilling Oxydes and...
06/02/2013Provides 2013 Exploration and Development Strategy Update
10/01/2013Panama Government Approves Pershimco's Environmental Addendu...
05/11/2012(Cerro Quema)Announces Filing of NI 43-101 Technical Report for Cerro Que...
18/10/2012Reports Additional Results 155m @ 0.46g/t Gold and 0.72% Cop...
25/09/2012Corporate Update and Results of the Annual Meeting of Shareh...
20/09/2012Announces 'In-Pit' NI 43-101 Resource Estimate Totalling 570...
13/09/2012Intercepts 36m @ 1.54 g/t Gold & 18m @ 1.47% Copper
06/10/2011News Release
12/07/2011(Cerro Quema)Now Extends the LaPava Gold-Copper Target More Than 500 Metr...
15/06/2011First Drill Results on New Zones Show Positive Potential Ups...
04/05/2010Corporate Update Q-1 2010
02/03/2010extension of due diligence period for proposed Cerro Quema p...
24/02/2010Becomes a major player in the abitibi's golden vallee
17/11/2009Increases its presence through the acquisition of 96 claims
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