Pershing Resources Releases Additional New Enterprise Assay Results
Assays Averaging 7.26gpt/Au and 320.6gpt/Ag, Highlight Commercial Potential
RENO, NV -- (Marketwired) -- 10/03/17 -- Pershing Resources Company, Inc., (OTC PINK: PSGR) announced that it has posted additional summary assay data from its ongoing surface sampling program on its New Enterprise Property. Five surface samples, ranging in weight from 1.9 to 2.27 kilograms, were collected from an area of exposed fault breccia with multiple veins converging from the wider site. Individual assays ranged from 2.52gpt to 13.3gpt for gold/Au, and 202gpt to 391gpt for silver/Ag. The Company plans to make the site a priority for development. Detailed assay data can be viewed on the Company's website at: http://www.pershingpm.com/projects/the-new-enterprise-project.
Pershing Resources expanded the area of its New Enterprise Project in 2016 to a total area of 480 acres or 24 lode claims. The Company expanded the claimed area following a review of exploration work and data and, has been isolating development targets for inclusion in a proposed bulk sampling program for 2018. In August the Company received a BLM permit to begin site preparation work to execute a bulk sampling program on the New Enterprise site. The bulk sampling program will begin after an NI 43-101 Phase One study to determine the Inferred Mineral Resource of the New Enterprise is completed.
Field work for the NI 43-101 study and report is now tentatively planned to begin later this year. Following the unexpected passing of Chief Consulting Geologist Dr. Duncan J. Bain PhD, P. Geo., in July, a replacement has now been identified and will be sub-contracted through Duncan Bain Consulting Ltd. of London Ontario. The Company plans to initiate the study after it has completed the review process for its Regulation A, Form 1-A offering statement filing.
Pershing Resources' CEO Steve Plumb said, "These results show good potential from the New Enterprise. We are accumulating data from a number of potential development sites on the property that we are considering for our bulk sampling program next year. Losing Duncan this year was a setback. However, we are focused on progress and, looking forward to beginning our Phase One Study, to be followed by our bulk sampling program in 2018."
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About Pershing Resources
Pershing Resources is a development stage precious metals producer, focused on projects located in North America. The Company is based in Reno, Nevada and owns a development facility near Kingman, Arizona.
The Company's current assets are comprised of mining properties located in the Western United States. The Company is presently in various stages of development on each of these properties. As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition of additional mineral rights and mining properties. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.
Details on the Company's projects can be found at http://www.pershingpm.com/.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released October 3, 2017