Pershing Resources Company Announces Assay Results of Its Precious Metals Ore Sampling Program on Its Marco Project
The Company Confirms Precious Metals Values and Begins Lab Development of a Mill Circuit to Establish Commercial Recovery Rates
RENO, NV -- (Marketwired) -- 04/02/15 -- Pershing Resources Company (OTC PINK: PSGR) announced the results of their sampling program on its Marco Project Claims in Northern Nevada. The Company established an average assay of 0.374 ounces, (10.6 grams) of precious metals per ton of head ore. Results from the sampling program were confirmed and certified by Copper State Analytical Laboratories in Prescott, Arizona. Copper State Analytical established the values on head ore and certified the results on 12 sets of surface samples from GPS logged locations on the Marco property. The Company hired Simple Recovery Inc., a mining contractor, to establish an independent chain of custody. Surface samples were collected by Simple Recovery personnel from an area of the Marco property encompassing approximately 400 acres. The samples were then brought to CSAL for assay, analysis and, extraction process testing late last year. The Company directed that several tests be run on each sample set to confirm the ore values using different methods and to establish the best extraction process and effective steps to incorporate into a proposed mill processing circuit. Further analysis is pending to determine the best process to extract ore values. More detailed data regarding the ore values and test results will be published on the Company's website in the next few weeks.
Steve Plumb, Pershing Resources' CEO, said, "These results confirm what we have known, for a while, about the Marco Project. The property is highly mineralized and is somewhat unique in its geology and ore content. We believe that the Company is on the right track and, that we can take this project to a commercial scale and be at a production ready state in the foreseeable future."
Mr. Plumb added, "Shareholders have been very patient and the Company greatly appreciates the supportive feedback we have received since beginning our new initiative. Our priorities will now center on completing our development work with Simple Recovery and CSAL, and prudent use of capital. We are pleased and encouraged by these results and look forward to continued progress in our drive to get the Marco Project into production."
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About Pershing Resources Company
Pershing Resources Company is a development stage exploration and mining company, focused on precious metal ores and mining projects located in Nevada. Based in Reno, Nevada, the Company's overall strategy is built around two basic components. The first component involves the acquisition of US domestic properties near mines with historical precious metals production. The second component is the development of projects with high tonnage and commercially viable grades of precious metals with proximity to historical occurrences. This two tier strategy supports the company's short and long term goals of profitability and growing shareholder value through expansion.
Supplemental to our overall strategy and to achieve our goals, the Company is focused on five key attributes. Those being, quality growth, low cash costs, cost management, establishing and maintaining a strong balance sheet, and conducting business in a responsible manner.
The Company's current assets are comprised of 55 mining claims on a site totaling 1100 acres near Lovelock, Nevada. These claims are well documented and have been explored and assayed extensively. The Company is presently in the planning and pre-production stage on this property. Pershing Resources is committed to responsible mining practices and, is well positioned to deliver sustained growth and performance for years to come.
Safe Harbor Statement
The information contained in this press release as well as the information on the discussed website is provided solely for the reader's general knowledge. The information contained herein is not intended to be a comprehensive review of all matters pertaining to Pershing Resources Company.
Potential investors should be aware that certain statements included herein constitute " forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results , performance and/or achievements of Pershing Resources Company or of the gold mining industry to be materially different from future results, performance and/or achievements expressed or implied by those forward looking statements. These risks, uncertainties and other factors include, but are not limited to, changes in the worldwide price of gold or certain other commodities and currencies and the risks involved in the exploration, development and the mining business in general.
Source: Pershing Resources Company, Inc.
Released April 2, 2015