Nov 19 2010
Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFORT:BIZ) has announced results from the first batch of assays received and verified on the recently completed validation Reverse Circulation drilling at the Corporation's Cerro Quema Project in Panama.
A first group of RC holes tested the LaPava Zone ("LaPava") located at the western extremity of a 12 km long corridor consisting of several dome features defined by historical work. Drill holes uniformly covered the domes, twinning historical holes and adding new holes as recommended by Scott Wilson Roscoe Postle in their National Instrument ("NI") 43-101 titled Technical Report on the Cerro Quema Project, Panama, by W. W. Valliant, P. Geo., S. Collins, P. E., and H. Krutzelmann, P.Eng., dated September 10, 2010 and available under Pershimco at www.sedar.com, and aimed at confirming not only the presence of gold, but the distribution of gold grades, and also the presence of Copper at depth.
RC holes PRH10001, PRH10002, PRH10003 and PRH10004 on the Minera Cerro Quema Concession have confirmed gold along the entire length with the best interval in PRH10004 grading 1.41 g/t Gold over 128.0 metres; PRH10003 intersected 1.64 g/t Gold over 49.8 metres; PRH10002 cut 0.18 g/t Gold over 96.5 metres including 0.79% Copper over 10.2 metres in the last 10.2 metres of drilling; and PRH10001 intersected 0.51 g/t Gold over 74.2 metres.
This first batch of assay results confirms the presence of Gold, its extent and grades in areas historically drilled from the LaPava Zone. Additional RC holes outside the historic limits of drilling also intersected Gold as well as Copper below the known oxide zone.
The present drilling has been realized in 4 7/8" diameter. all hole are vertical (RC) Reverse Circulation type drilling. Samples, averaging 1 meter in length, have been analyzed by Activation Laboratories Ltd using 50g pyro with gravimetric finish.
The Cerro Quema Project
The Cerro Quema Project is located on the Azuero Peninsula in Los Santos Province of southwestern Panama some 45 km southwest of Chitré, a well-serviced city located along a major national highway. A fully functional exploration camp has been activated and the project is fully permitted for exploration. The ongoing exploration program is designed to upgrade and expand the near surface oxide Mineral Resources in order to build a low cost open pit leaching operation. The project is located in an area of low population, close to paved roads and the national power grid. These infrastructure advantages and geological settings could potentially reduce future project development costs and lower operating costs.
The technical information in this news release was approved by Mr. Jean Lafleur, P. Geo., Director of Pershimco Resources Inc., a Qualified Person under NI 43-101.