Pershimco Announces NI 43-101 Resource Estimate; Shares Down 10% Mid-Morning


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Pershimco Resources Inc. (PRO.V) today reported the completion of its National Instrument ( NI ) 43-101 2012 Mineral Resource Estimate Update at its 15,000 Ha 100% owned Cerro Quema Property, Panama.

The Cerro Quema Property hosts the La Pava, Quema Quemita and La Mesita Zones.

Highlights from the updated Mineral Resource:

- All resources reported are within an optimized pit shell;

- Indicated oxide gold mineral resources increase from 256,000 to 513,100 Au Oz's;

- Indicated oxide and sulphide resources total 570,100 Au Oz's increasing by 123%;

-Inferred resources total 167,800 AuEq(10) Oz's;

-Previous mineral resource calculation (2010) gives a gold discovery rate of 14.7 Oz's per meter drilled;

-Gold discovery rate has increased to 17.5 Oz's per meter drilled;

-The recently drilled 9,020 meters is not included in this mineral resource estimate but will be included in the next resource estimate; and

Four drill rigs are still expanding the two targets : LaPava and Quemita-Quemita.

More than 180,000 shares have been traded so far.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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