Skip to main content

First Ounce of Gold Extracted from a Ton of Ore from the Surface Pillar of the Former Pershing-Manitou Mine Located on the Courville Property

Written by Customer Service on . Posted in Public Companies.

ROUYN-NORANDA, Quebec, June 09, 2020 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or “The Company”) (TSX VENTURE: PRO) announces that it has poured its first dore (32.6 grams) produced from a ton of mineralized material from the surface pillar of the former Pershing-Manitou mine, located on the Courville Property.  The surface trench from which the ton of mineralized material was extracted and used to produce the Company’s first ounce of gold was completed this spring.  The mineralized material chosen from the surface trench consists of centimetric quartz veins and veinlets mineralized in pyrite and coarse native gold grains collected in a diorite.  The ton of material (1,000 kg) was crushed and roughly grounded (less than 1000 microns).  The material thus released was concentrated by spiral and Wilfley’s table.   Coarse grinding with only gravimetric concentration allowed to cast 32.6 grams of gold.  The one-ton sample demonstrated the ease of recovery of gold simply by the gravimetric method. It is also possible to confirm that high grades are present on the surface in addition to being recoverable in a simple and cost-effective manner, especially in the current context of the price of gold.
Last winter, the Company conducted two diamond drill holes (PM-20-04 and PM 20-16A) directly under the trench at 20 m and 15 m vertical depth.  These two holes, located in the heart of the surface pillar of the former Pershing-Manitou mine, have in fact intersected metric intersections of mineralization containing several coarse visible gold grains. Note that the normal process of operations resumed at the assay laboratory following the work stoppage caused by the Covid-19 pandemic. Final drilling results are expected to be available soon. Robert Gagnon, President and   CEO of the Company, said:  “The pouring of this first ounce of gold from a ton of mineralized material from the surface pillar of the former Pershing-Manitou mine is undoubtedly an important step in the continuity of our project. By the same, we validate the ease of recovering the gold on our Courville property.  This confirms the relevance of our phase 1, for sending 2,000 tons in a mill.  The Company is expected to conclude an agreement with a milling plant in the Val-d’Or area to process the mineralized material pile in the near term.    Pershimex Resources Corporation – Quick OverviewStrategic positioning in Abitibi-Témiscamingue with more than 800 claims.Owns 100% of the mining rights on the Courville property.Partnership with Dundee Precious Metals on the Malartic property.This press release was prepared by Robert Gagnon, professional geologist, president of Pershimex, a qualified person under Regulation 43-101.Warning
The TSX Venture Exchange and its regulatory services provider (as is attributed to this term in the policies of the TSX Venture Exchange) assume no responsibility for the relevance or accuracy of the information contained in this press release.The facts set out in this press release that are not historical facts are “forward-looking statements” and readers are cautioned that these statements are not a guarantee of success and that future developments and results may differ from those projected in these forward-looking statements.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e2a8d4a-dec6-480d-89b7-d05df6659037 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.