Pershing Resources Renews Federal Mineral Claim Rights For Its New Enterprise Property
RENO, NV / ACCESSWIRE / September 6, 2022 / Pershing Resources Company, Inc. ("Pershing" or the "Company") (OTC PINK:PSGR), announced that, as of August 30, 2022, it has paid the Bureau of Land Management, (BLM), annual maintenance fees to secure the mineral rights of the 367 mining claims, covering approximately 11.84 square miles, or 3,068 hectares, through to September 1, 2023, for its lead exploration project, the 100% owned New Enterprise Property located in the Maynard Mining District near Kingman, Arizona. The New Enterprise Property includes four primary exploration targets with known copper porphyry-related mineralization that appear not to have been drill tested and located within a "structural corridor" four miles long and 0.4 miles wide, as discussed in the Company's recently received SK-1300 Technical Report Summary (the "Report") Current Technical Report: Pershing Resources Company, Inc. (PSGR) (pershingpm.com)
The proposed conceptual exploration model outlined in the Report takes into consideration structural and overlapping alteration patterns not previously considered that may have concealed the mineral resource potential of the New Enterprise Property area. Additional work is necessary to further understand the scope of the newly developed conceptual exploration model as discussed in the Report. A three-phase exploration program has been outlined to better constrain the conceptual exploration model and to determine the potential grade and tonnage of the structurally controlled mineralization. Pershing will need to secure sufficient funding to complete the recommended work as outlined in the Report.
The New Enterprise Project area is situated between the historical producing Mineral Park Mine twenty miles to the northwest and the currently producing Bagdad Mine forty-five miles to the southeast, both of which are within the copper producing Laramide Arc. (for mine details, see Pershing Resources press release dated May 23, 2022).
Edward C. Walker, Ph.D., P.Geo., author of the Report, is an independent consultant to the Company, and a "qualified person" as defined under the rules and regulations of the U.S. Securities and Exchange Commission. Dr. Walker participated in the acquisition and interpretation of Pershing's exploration work. The technical content of this press release has been reviewed and/or prepared by Dr. Walker.
An updated Technical Presentation on Pershing Resources' New Enterprise Project is available on our website at: https://www.pershingpm.com/projects/the-new-enterprise-project/technical-presentation
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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, words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "hope," "intend," "may," "might," "plan," "possibility," "potential," "predict," "project," "should,'' "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. 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 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, copper, and other precious and base metals 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, uncertainty of meeting anticipated program milestones for the Company's mineral projects, the risks associated with the pandemic caused by the novel coronavirus known as COVID-19 and its variants such as Delta and Omicron and the recent BZ.4 and BA.5 Omicron subvariants, the risks associated with the invasion of Ukraine by Russia and other risks and uncertainties affecting the Company's business operations and financial condition.
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 because of new information, future events, or otherwise.
Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
SOURCE: Pershing Resources Company, Inc.
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Released September 6, 2022