Pershimex Resources and Dundee Precious Metals Begin a New Drill Campaign on the Malartic Property
ROUYN-NORANDA, QUEBEC--(Marketwired - Mar 5, 2018) - Pershimex Resources Corporation (« Pershimex » or the « Company ») (TSX VENTURE:PRO) is pleased to announce the start of a drill campaign on the Malartic Property. This property, in partnership with Dundee Precious Metals Inc., (« Dundee ») is located close to the prolific Cadillac fault, about 12 km to the north-west of the Canadian Malartic Mine (Agnico Eagle Mines-Yamana Gold Inc.) and at 2 km to the east of the Lapa mine (Agnico Eagle Mines).
This campaign, which will be led by our partner Dundee, follows project-wide geological prospection (with over 350 new grab and channel samples), drill core re-logging and re-sampling, and geophysical surveys completed in 2017. As part of geophysical prospection, high resolution magnetics covering 12 square kilometres and pole-dipole IP survey focused to the volcano-sedimentary Blake River Group and its contact areas, including the Revillard and Malrobic prospects. The 2018 drill campaign will test the different targets identified by integration and modeling of this new datasets together with historical data. This first drilling campaign will be of about 1600 m in about 8 holes.
Following the agreement announced in the press release of May 23, 2017, the gold Malartic Property will be developed in partnership with Dundee under an option agreement granting Dundee the option to acquire a maximum undivided interest of 71% in the Malartic Property.
Robert Gagnon, President and Chief Executive Officer of the Company stated: «This drill campaign follows our successful planning and consolidation of claims in the region as well as a strategic partnership with Dundee. The targets that will be drilled are of first quality and are corroborated by rigorous prospecting, mapping and geophysics. We are confident that these holes will update new gold zones on the Malartic Property.
Pershimex Resources- Quick Overview
- Strategic positioning in the Abitibi-Témiscamingue with more than 800 claims
- Partner with Dundee Precious Metals on the Malartic Property
- Partner with Chalice Gold Mines on the Forsan Property
This press release was prepared by Robert Gagnon, Professional Geologist, President of Pershimex Resources, and Qualified Person under NI-43-101.
Caution
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of the information contained in this press release.
The facts set out in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that such statements are not a guarantee of success and that future developments and results may be different from those projected in these forward-looking statements.
Contact
Robert Gagnon
Chief Executive Officer
(819) 825-2303