Pershing Resources Adds a Property in Arizona
The Company Initiates a Strategic Expansion Plan
RENO, NV -- (Marketwired) -- 02/21/17 -- Pershing Resources Company, Inc., (OTC PINK: PSGR) announced today that is has staked and filed a 420 acre site previously known as the Standard Mine. The new project is in the vicinity of the Company's New Enterprise project and has been designated as the Mohave-Standard Project.
The property was originally developed during World War I for molybdenum and copper. The mine's last documented production was in the late 1930's. The main mine workings consist of one timbered vertical shaft 450 feet deep with levels at 200, 300, and 400 feet. Historical assays from veins on the 200 foot level cited significant commercial values of molybdenum. Additional historical documentation notes that, the 400 foot level was excavated and yielded commercial values of gold, silver, molybdenum and copper. The Company intends to develop the Mohave-Standard property for its gold and silver deposits and, is looking for a partner to develop the copper and molybdenum deposits.
The Company has taken preliminary samples and, is currently reviewing the available historical documentation along with recent work executed and documentation accumulated and provided by A&M Minerals, LLC of Sudbury, Ontario Canada, the previous holder of the claims. Consulting geologist, Nick Barr, has been working with A&M Minerals on the transfer of data. The Company will be updating its website as information becomes available.
Pershing Resources' CEO Steve Plumb stated, "We have considered the Standard Mine to be a complement to our New Enterprise property and an important addition to our portfolio for some time. We acted to acquire it as soon as it became available. We are also pleased to initiate our strategic expansion plan which was approved by shareholders in 2016."
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Forward Looking Statements
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About Pershing Resources
Pershing Resources is a development stage precious metals producer, focused on projects located in North America. The Company is based in Reno, Nevada and, owns a development facility near Kingman, Arizona.
The Company's current assets are comprised of mining properties located in the Western United States. The Company is presently in various stages of development on each of these properties. As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition of additional mining properties. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.
Details on the Company's projects can be found at http://www.pershingpm.com/.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released February 21, 2017