Pershimco Intercepts 36m @ 1.54 g/t Gold & 18m @ 1.47% Copper
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 09/13/12 -- Pershimco Resources Inc. (the "Corporation" or "Pershimco") (TSX VENTURE: PRO)(FRANKFURT: BIZ) is pleased to announce additional results from its ongoing Diamond drilling and Reverse Circulation (RC) resource definition drilling programs at its 15,000 Ha 100% owned Cerro Quema property.
At the La Pava Deposit area, significant intercepts include PRH-12141 returning 36m @ 1.54g/t Au from surface entirely within the oxide zone and PDH-12057 returning 18m @ 1.47% Cu from 108m within the sulphide zone. These results demonstrate the continuity of mineralization as the drilling program continues to step-out and target areas both N-S and E-W of known mineralization.
Additional significant drill hole results are listed in Tables 1 and 2 below.
Figure 1 shows drill hole locations in La Pava: http://media3.marketwire.com/docs/PRO-Figure1.pdf
Table 1: New Gold Results from La Pava
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From To Length Gold
DRILL HOLE NO. (m) (m) (m) (g/t)
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PDH-12024 0 9 9 2.49
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PDH-12024 9 13 4 No recovery
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PDH-12024 13 20 7 1.16
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PDH-12027 7 10 3 0.8
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PDH-12027 11 14 3 0.78
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PDH-12027 17 20 3 1.41
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PDH-12027 26 27 1 3.49
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PDH-12027 30 31 1 1.2
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PDH-12027 32 33 1 3.72
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PDH-12027 39 54 15 0.43
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PDH-12030 97 135 38 0.76
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PDH-12030 100 125 25 1.01
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Incl. 109 118 9 1.52
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PRH-12141 0 36 36 1.54
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PRH-12142 0 82 82 0.8
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Incl. 0 34 34 1.49
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Incl. 0 10 10 1.9
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Incl. 31 35 4 5.93
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PRH-12145 2 8 6 2.01
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PRH-12146 0 18 18 0.53
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PRH-12149 0 23 23 0.37
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PRH-12152 3 15 12 1.11
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Table 2: New Copper Results from La Pava
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From To Length Copper Gold
DRILL HOLE NO. (m) (m) (m) (%) (g/t)
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PRH-12157 16 31 15 0.28% 0.01
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PDH-12027 108 126 18 1.47% 0.49
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Incl. 108 118 10 1.97% 0.46
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PDH-12029 51 64 13 0.45% 0.12
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Incl. 51 56 5 0.78% 0.16
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Highlights of the drilling program at the Quema-Quemita Deposit are listed in Table 3 below.
Significant intercepts include drill hole PRH-12139 returning 17m @ 2.43g/t Au drilled from surface within the oxide zone and drill hole PRH-12147 returning 90m @ 0.55g/t Au also drilled from surface and entirely within the oxide zone.
These drill holes are step-out holes on both the southern and northern sides respectively of the Quema-Quemita deposit. Drill hole PRH-12139 which returned 17m @ 2.43g/t Au shows good widths of high grade material on surface whilst drill hole PRH-12147 which returned 90m @ 0.55g/t Au highlights the bulk tonnage lower grade component of the deposit. Additional drill holes to follow-up on these results are planned in parallel to the ongoing step-out drilling program currently in progress. Drill hole locations are shown in Figure 2: http://media3.marketwire.com/docs/PRO-Figure2.pdf.
Table 3: New Gold Results from Quema-Quemita:
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From To Length Gold
DRILL HOLE NO. (m) (m) (m) (g/t)
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PRH-12139 0 17 17 2.43
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Incl. 2 12 10 3.8
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PRH-12147 0 90 90 0.55
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Incl. 3 22 19 1.74
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Notes for Tables 1,2 and 3:
1. Drill hole numbers with prefix 'PDH' are diamond drill holes.
2. Drill hole numbers with prefix 'PRH' are reverse circulation (RC) drill
holes.
3. Drill intersections tabulated under 'Intercept' are reported as drilled
thicknesses. These intercepts are apparent widths only.
Alain Bureau, P.Eng, Pershimco's President and CEO commented: "The current drilling program continues to yield solid results as we systematically evaluate the gold and copper resources at our project. We are encouraged as step-out drill holes continue intercepting commercial grade mineralization".
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 preparation 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 at regular intervals. 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 new protocol also includes that samples be dried at 125 degree Fahrenheit just before crushing and also immediately before pulverizing.
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 corporation listed on the TSX Venture Exchange and the Frankfurt Exchange. The Corporation 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 Corporation 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
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
Tél. : +1 (819) 797-2180
ressources@pershimco.ca
Richard Leroux
Investor Relations
Tél. : +1 (514) 993-4510
info@pershimco.ca
