Pershing Resources Commences Phase One of NI 43-101 Study on Its New Enterprise Project
The Company Contracts A Senior Geological Team To Evaluate Economic Potential of the Project
RENO, NV -- (Marketwired) -- 03/21/18 -- Pershing Resources Company, Inc., (OTC PINK: PSGR) is pleased to announce the initiation of Phase 1 exploration work and preparations for the completion of an updated National Instrument 43-101 Technical Report for its 100% owned New Enterprise project. The work began in January of this year with the fieldwork completed in early February. The final Technical Report, which will include the exploration work, is expected to be available by April 30th.
The Technical Report will asses the effectiveness of previous exploration work to test the mineral resource potential and prioritize future exploration work to advance the development of the project. This work will be supported with field observations regarding rock types, alteration, mineralization, and structure, in conjunction with multi element analysis of 106 samples. Interpretations and conclusions will discuss the mineral resource potential of the Project based on the available data and outline Phase 2 recommendations. At this point in the preparations of the report, it is anticipated that Phase 2 recommendations will include, but not limited to, an airborne and other geophysical surveys, geological mapping, additional geochemistry, and a diamond drilling program.
The Company is also pleased to announce that it has named Edward Walker PhD, P.Geo., as its principal consulting geologist on the Company's New Enterprise project near Kingman Arizona. Dr. Walker will replace Duncan J. Bain PhD, P.Geo. Dr. Bain passed away unexpectedly in mid-July of 2017. The Company has been working with Dr. Bain's consulting firm, Duncan Bain Consulting Ltd, (DBCL), of London, Ontario, to find a replacement. The Company has also named Jim Renaud PhD, P.Geo. as a primary technological consultant on the New Enterprise project to assist Dr. Walker.
Pershing Resources' CEO, Steve Plumb stated, "We are grateful to the CEO of DBCL for her diligent help in finding such well qualified professionals to continue the work that Duncan began for us. We look forward to working with our new team of geologists as we continue our exploration and development of the New Enterprise project."
Upon completion, the NI 43-101 Report will posted on the Company's website at: http://www.pershingpm.com/projects/the-new-enterprise-project
The technical information in this news release was prepared and/or reviewed by Edward Walker, PhD, P.Geo., an independent Qualified Person as defined in National Instrument 43-101.
About Pershing Resources
Pershing Resources is a precious and base metals exploration and mining company with several projects in North America. The Company is based in Reno, Nevada and owns an operations facility near Kingman, Arizona. It is currently focused on the development of it's 100% owned New Enterpise and Mohave Standard properties, referred to as the New Enterpise project. The New Enterprise project is located between the Mineral Park Porphyry Cu-Mo mine (approximately 20 miles to the northwest) and the Baghdad Cu-Mo mine (approximately 45 miles to the southeast). The Company's other assets are comprised of mining properties in various stages of development located in the Western United States. 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/.
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.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released March 21, 2018