Pershimco Drills 74m @ 0.50 % Copper Further: Further Extends Zone of Copper Sulphide Mineralization
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 08/08/12 -- Pershimco Resources Inc. (the "Company" or "Pershimco") (TSX VENTURE: PRO)(FRANKFURT: BIZ) is pleased to announce recent diamond drilling results at its 15,000 Ha 100% owned Cerro Quema property.
This recent drilling was completed over the La Pava Central and East deposit areas. Refer to Figure 1 showing drill hole locations.
Significant copper assay results returned include the following:
Table 1: New Sulphide Results from La Pava East
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DRILL HOLE NO. From To length Copper
(m) (m) (m) (%)
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PRH-11030 94 111 17 1.07%
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PRH-12097 32 41 9 0.34%
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PRH-12111 14 39 25 0.29%
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PRH-12101 19 25 6 0.39%
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PDH-12017 142 148 6 0.32%
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PRH-12130 15 26 11 0.12%
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PRH-12138 76 150 74 0.50%
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Notes:
(1) Drill hole Numbers with prefix 'PDH' are diamond drill holes and prefix
'PRH' are reverse circulation drill holes.
(2) Drill intersections tabulated under 'Intercept' are reported as drilled
thicknesses. These intercepts are apparent widths only.
The Company has continued its drilling efforts in the La Pava deposit area focussing on the Induced Polarization (IP) geophysics anomaly in addition to step-out drilling from previous mineralized intercepts.
Following on from the Company's press release dated July 5th, 2012, these new drill hole results further extend the zone of deeper sulphide mineralization an additional 275m and 300m respectively East and West and a further 200m North. These results now highlight and area of approximate dimensions of 700m x 300m with drill intercepts returning elevated copper mineralization.
These new results additionally support the Company's exploration model for the project which interprets these results to reflect outflow zones associated with the 'feeder structures' that are the conduits for the high sulphidation Au-Cu mineralization at the Cerro Quema deposits. To date, the Company has not determined the depth extent of these structures nor their ultimate source. The classic copper porphyry model and associated overlying high sulphidation epithermal systems commonly demonstrate feeder structures that are rooted in a porphyry system at depth.
Alain Bureau, P.Eng, Pershimco's President and CEO states: "Our drilling efforts this year continue to yield encouraging results and demonstrate the copper potential of our concessions. Although our primary focus this year is to evaluate the gold oxide resources we will continue to commit a smaller part of our efforts to systematically test the deeper copper mineralization potential. The Company, and more specifically, our exploration team is please with these results and look forward additional deeper drilling".
Quality Assurance / Quality Control ("QA/QC")
Drill core from the diamond and reverse circulation (RC) drill holes are transported by Pershimco technical personnel from the drill site to the core and sample prep facility on site. Once there, geologists and qualified technicians log, sample tag and half-split the core in 1 meter lengths using stationary saws. Individual sampled meter intervals of split core and RC chips are then put in tagged and sealed plastic bags with a standard, duplicate and blank inserted every 15 samples. The prepared samples are then sent to the Activation Laboratories (Actlabs) sample preparation facilities in Panama. Individual samples are inventoried by Actlabs personnel, dried, finely crushed to 70% at less than 2 mm, then pulverized to 85% at less than 75 um, and riffle-split to 150 grams. Prepared samples are then placed into sealed 5-gallon plastic containers and shipped by courier services to the Activation Laboratories main facilities in Ancaster (Ontario, Canada) for assaying using a multi-element ICP method and fire assay method with atomic absorption finish for Gold, Silver and Copper. Over limit assays are done on samples with results greater than to 2.5 g/t.
The information contained in this news 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 key to its success.
The Corporation's documents are available on www.sedar.com
Please visit the Corporation's website at www.pershimco.ca
Figure 1 is available at the following address: http://media3.marketwire.com/docs/minera0808.pdf
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.
Contacts:
Alain Bureau, P. Eng.
President and Chief Executive officer
+1 (819) 797-2180
ressources@pershimco.ca
Richard Leroux
Investor Relations
+1 (514) 993-4510
info@pershimco.ca
