- Pershimex Resources Corporation (PRO) has shared results of a Mineral Resource Estimation (MRE) by the firm 3DGeo Solution Inc. from the former Pershing-Manitou Mine
- 2,169 metres of drilling and 2,788 samples were taken to define a near surface gold resource representing a total investment of less than $1 million
- The definition of an “in-pit” resource of 9,600 tonnes grading 7.04 g/t Au, representing nearly 2,100 ounces of gold was measured
- Additionally, the underground potential of nearly 23,300 tonnes at a grade of 4.02 g/t Au, representing just over 3,000 ounces of gold
- Pershimex Resources Corporation (PRO) is down 20 per cent and is trading at $0.04 per share at 2:11 p.m. ET.
Pershimex Resources Corporation (PRO) has shared results of a Mineral Resource Estimation (MRE) by the firm 3DGeo Solution Inc.
The MRE is based on all received assay results from holes drilled in 2020, the spring of 2021, and the channel sampling work completed in August 2021 from the former Pershing-Manitou Mine in Quebec.
A near surface gold resource was defined from 2,169 metres of drilling and 2,788 samples, representing a total investment of less than $1 million.
The definition of an “in-pit” resource of 9,600 tonnes grading 7.04 g/t Au, representing nearly 2,100 ounces of gold was measured.
Additionally, the underground potential of nearly 23,300 tonnes at a grade of 4.02 g/t Au, representing just over 3,000 ounces of gold was discovered.
A value of 0.001 g/t Au was used as a grade for the un-assayed core, while a clipping grade of 31.1035 g/t Au was applied to composites with a higher gold grade.
The underground mineral resources are presented at a cut-off grade of 2.00 g/t Au and correspond to the piles of contiguous blocks with a reasonable size to be exploited by the long-hole method.
Pershimex can define a volume of high-grade gold material not exceeding 5,000 tonnes to comply with the standards set by the government regarding permit applications for conducting a bulk sampling program.
The bulk sampling will validate the approach taken to maximize further development work on the Pershing-Manitou deposit.
Pershimex Resources Corporation (PRO) is down 20 per cent and is trading at $0.04 per share at 2:11 p.m. ET.