Pershing Resources Begins Pilot Mill Testing
The Company Names Bill Earnshaw as Director of Projects and Head of Mill Operations
RENO, NV -- (Marketwired) -- 06/30/15 -- Pershing Resources Company (OTC PINK: PSGR) announced that it has begun testing its pilot mill at a facility near Kingman Arizona. The Company took delivery of a sonification unit, crushing circuit and other equipment in early May and, has largely completed assembly of a pilot mill. Testing will take sixty to ninety days and will involve processing runs of 25 to 100 pounds at a time. Once testing and adjustments are complete the pilot mill's capacity can be scaled up to 1 ton per day and eventually increasing to 5 tons per day. The Company will report on yield results as warranted.
The Company also announced that it has named William B Earnshaw to be Director of Projects and Mill Operations. Mr Earnshaw is a veteran of three-plus decades in the industry and has experience in exploration and project management in both North and South America as well as, particular expertise in refining. Previous to joining Pershing Resources, he had been president of Simple Recovery Inc. which was acquired by the Company earlier this year.
Mr. Earnshaw, commented, "The assay and recovery of precious metals is an art and, technological advances are changing how mining and particularly refining is being done. The lack of free milling ores is pushing larger mining concerns toward ever more efficient methods of recovery which, in the past were not cost effective. We are working with several advanced technologies applied in recovery methods to increase our projected yields and cut our milling costs and time needed to process complex ores. Pershing Resources' Marco Project is good example of such ore types. In lab testing, ore that initially yielded one gram per ton of precious metals, moved to as high as 30 grams per ton if a method such as sonification is applied. Technology is a disrupter and cost cutter in many industries and mining is no different."
Pershing Resources' CEO Steve Plumb said, "This marks a major goal for the Company and shareholders. We have developed the beginnings of a production capability and expect to be able to report a modest cash flow from operations in the near term. Having Bill come on board along with the two additional properties has been a game changer for us and demonstrates how the acquisition of Simple Recovery has been immediately accretive for the Company.
Mr. Plumb added, "As always, the Company appreciates the feedback we have received from shareholders and we welcome your comments and suggestions on all aspects of our operations."
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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 and Arizona. 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 BLM mining claims on a site totaling 1100 acres near Lovelock, Nevada and 10 BLM mining claims on two sites near Kingman Arizona. These claims are documented and have been explored and assayed for precious metals and have been found to be commercially viable. The Company is presently in the planning and pre-production stage on each of these properties. 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 June 30, 2015