Advertisement
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 02/28/13 -- Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX VENTURE: PRO)(FRANKFURT: BIZ) is pleased to report the latest assay results from its ongoing Infill and step-out drilling program focused on both expanding resources and upgrading resources from 'Indicated' to 'Measured' category at the Company's 100% owned Quema-Quemita and La Pava deposits.
HIGHLIGHTS:
-- Results confirm the continuity of higher grade gold mineralization within the current oxide gold resource area-- Significant intercepts: -- 5m @ 4.08 g/t gold ("Au"); 47m @ 1.23 g/t Au; 10m @ 1.12 g/t Au; 12m @ 1.01 g/t Au; and, 61m @ 0.86 g/t Au, including 40m @ 1.04 g/t Au-- Significant intercepts in several directions outside the current optimized open pit design indicate potential for further expansion of both gold and copper resources-- Drilling further expands supergene copper zone below the oxide gold zones. Significant intercept: -- 18m @ 2.4% copper ("Cu") (incl. 7m @ 5.26% Cu)In addition to the recent regional drilling results from its new Idaida project (see news release dated February 9, 2013), the Company continues to undertake a systematic resource definition and resource upgrade drilling program at both the Quema-Quemita and La Pava deposits. This drilling is successfully defining continuity of mineralization in both deposits, as well as expanding each of areas of higher grade gold mineralization, the size of the lower grade oxide gold halo and the extent of deeper supergene copper mineralization.
Alain Bureau, P.Eng, Pershimco's President and CEO commented: "The carefully planned technical work being conducted by our resource development team continues to expand the areas of mineralization beyond the current open pit boundaries at both La Pava and Quema-Quemita, showing the strong likelihood that we will be able not only to upgrade our resources, but also to expand the size of our resources and of both of these future open-pits."
Tables 1 and 2 below list new significant gold and copper intercepts at La Pava. Refer to Figure 1 for drill hole location map at La Pava.
LA PAVA DEVELOPMENT DRILLING
Table 1: New Gold Assay Results from La Pava:
----------------------------------------------------------------------------DRILL HOLE From To Length(3) Au Cu NO.(1),(2) (m) (m) (m) (g/t) (%)----------------------------------------------------------------------------PDH12025 14 24 10 1.12 0----------------------------------------------------------------------------PDH12036 0 7 7 0.84 0----------------------------------------------------------------------------PDH12037 0 7 7 1.92 0----------------------------------------------------------------------------PDH12038 4 9 5 2.34 0----------------------------------------------------------------------------PDH12038 13 29 16 0.92 0----------------------------------------------------------------------------Incl. 14 19 5 2.01 0----------------------------------------------------------------------------PDH12041 9 61 52 0.4 0----------------------------------------------------------------------------PDH125180b 177 183 6 1.26 0.12----------------------------------------------------------------------------PRH12145 2 8 6 1.72 0----------------------------------------------------------------------------PRH12150 7 31 24 0.71 0----------------------------------------------------------------------------PRH12152 3 15 12 1.01 0----------------------------------------------------------------------------PRH12180 110 165 55 0.34 0----------------------------------------------------------------------------PRH12188 0 5 5 4.08 0----------------------------------------------------------------------------PRH12196 153 161 8 0.41 0.03----------------------------------------------------------------------------PRH12199 8 45 37 0.41 0----------------------------------------------------------------------------PRH12201 2 5 3 0.87 0----------------------------------------------------------------------------PRH12202 3 17 14 0.42 0----------------------------------------------------------------------------PRH12205 0 5 5 0.58 0----------------------------------------------------------------------------PRH12209 40 42 2 1.02 0----------------------------------------------------------------------------PRH12211 3 50 47 1.23 0----------------------------------------------------------------------------Incl. 21 41 20 1.65 0----------------------------------------------------------------------------PRH12213 117 132 15 0.65 0----------------------------------------------------------------------------PRH12221 3 64 61 0.86 0----------------------------------------------------------------------------Incl. 3 43 40 1.04 0----------------------------------------------------------------------------PRH12223 0 6 6 0.9 0----------------------------------------------------------------------------PRH12229 0 8 8 0.68 0----------------------------------------------------------------------------PRH12247 9 12 3 1.3 0----------------------------------------------------------------------------PRH12254 0 15 15 0.62 0----------------------------------------------------------------------------
