Pershimco Keeps Validating the Cerro Quema Footprint Towards the East with Results of 75 Meters of 2.25 g/t Gold Equivalent and 94 Meters Grading 1.11 g/t Gold Equivalent on Quema
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 09/07/11 -- PERSHIMCO RESOURCES INC. (the 'Company' or 'Pershimco') (TSX VENTURE: PRO) (FRANKFURT: BIZ) is pleased to announce assay results from the 2011 exploration campaign at the Company's Cerro Quema Gold-Copper Project (the 'Project') in Panama. The new assay results at the Quema Target included 75 meters at 2.25 g/t Gold Equivalent and 94 meters at 1.11 g/t gold Equivalent. These new results are part of the most eastern drilling section done by Pershimco to date.
This new section from the Quema Target brings the longitudinal footprint to over 4 kilometers including the LaPava Target at the western end to this new section. The new section essay results, are represented in the following table:
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FROM TO Core G/T G/T G/T Gold
DDH # (m) (m) Length Gold Silver % Copper Equivalent
(m)
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PRH-11009 6 100 94 0.93 2.01 0.08 1.11
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PRH-11010 13 50 74 0.67 0.45 0.01 0.71
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3 73 70 1.86 0.83 0.2 2.25
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PRH-11011 3 39 36 3.61 1.54 0.06 3.75
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39 73 34 0.02 0.07 0.35 0.66
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PRH-11012 2 50 48 1.21 0.54 0.13 1.45
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PRH-11013 1 34 33 0.26 0.53 0.18 0.61
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70 80 10 0.37 1.91 0.01 0.43
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Notes:
The current Gold Equivalent grades were calculated using prices of US $1,436
/ oz Gold, US $33 / oz Silver and US $4.20 / lb Copper, and were not
adjusted for metallurgical recoveries as these remain uncertain.
Alain Bureau, P. Eng., President & CEO stated 'Again our exploration team have reach their objective and brought nice grades on this eastern section. We keep focus on increasing ounces on surface and it pays.'
Even if the rainy season started in Panama, Pershimco has two drill rigs fan-drilling along the northern segment of the LaPava Target in order to rapidly bring the mineralization towards NI 43-101 compliant mineral resources and exploring the deeper potential of LaPava. All access roads and drill site platforms have been prepared for the drill rigs along the LaPava Target's northern slope.
Quality Assurance / Quality Control ('QA/QC')
Drill cores from diamond and RC drill holes are transported by Pershimco technical personnel from the drill sites to the Cerro Quema Core Shack. There, qualified geologists and technicians log, sample tag and half-split the core in 1 m lengths using a saw. The individual sampled intervals of half-split core are then inserted in tagged plastic bag, and sent to the Activation Laboratories (Actlabs) sample preparation facilities in Panama. Individual samples are inventoried by Actlabs personnels, dried, finely crushed to 70% at less than 2 mm, then pulverized to 85% at less than 75 micro m, and riffle-split to 150 grams. There is 1 Standard and 1 Duplicate at every 5 meters and 1 Blank at every second 5 meters interval. Samples are then inserted in sealed 5-gallon plastic pails then shipped by courier to the Activation Laboratories main facilities in Ancaster (Ontario, Canada) for assaying using the Muti-element ICP Method and the Pyro-analysis Method with Atomic Absorption Finish for Gold, Silver and Copper. Re- assays are done on samples with results greater than to 2.5 g/t Gold and greater than 10,000 ppm Copper.
The information contained in this news release has been reviewed and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Vice-President Exploration and Director, a Qualified Person under NI 43-101 rules and standards.
About Pershimco Resources Inc.
Pershimco Resources Inc. is a Canadian-based resource and exploration corporation listed on the TSX Venture Exchange (symbol PRO.V) and the Frankfurt Exchange (symbol BIZ). The Corporation holds several mining properties in Canada and South America including the recently acquired Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp. The Corporation is managed by skilled, reputable people with extensive mining exploration and development experience. The Pershimco Team and our investors are the key to our success.
The Corporation's documents are available on www.sedar.com
Please visit the Corporation's website at www.pershimco.ca
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'statements.
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.
Contacts:
Pershimco Resources Inc.
Alain Bureau, P. Eng.
President and Chief Executive Officer
1 (819) 797-2180
ressources@pershimco.ca
www.pershimco.ca