Pershing Resources Company, Inc. Reports Additional Positive Gold Recovery Results on New Enterprise Project
November 27, 2018 at 06:46 am IST
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Pershing Resources Company, Inc. announced gold recovery by cyanide leaching results for grab samples from its New Enterprise Project located near Kingman, Arizona. Significant previously uncharacterized gold mineralization has been recently reported by Pershing Resources in multiple occurrences in what appears to be porphyry-related gold and copper mineralization. The results further substantiate earlier testwork suggesting gold can be readily recovered by cyanide leaching from these occurrences. Additional sampling and testwork is currently underway. A total of 31 of 106 stored samples collected as part of the 2018 Technical Report were submitted to ALS USA Inc. in Reno, Nevada, for routine cyanide leach testing. The previously reported gold assays for the 31 selected samples ranged from 0.09 to 35.3 grams per tonne, with an average of 2.55 grams per tonne. The primary objective of the testing was to further evaluate the effectiveness of gold extraction by cyanide leaching for samples from the New Enterprise Property. Of the 31 pulp samples submitted for testing, 23 samples reported a gold recovery of greater than 80% with an average recovery of 91%. This included samples from both the Central and West Vein Systems as well as late and early quartz veins and two porphyry samples. The remaining eight samples reported recovery values less than 80% gold recovery and could be considered refractory. Seven of the eight samples reported recoveries between 74% and 78%, while a single sample reported a recovery of only 43%. Additional work will be undertaken to assess potential causes for the lower recovery, for example, but limited to, method or mineralogically related. The results from ALS compare well with testing done in 2017 by AuRic Metallurgical Laboratories of Salt Lake City, Utah, results of which were included in the NI 43-101Technical Report released in June 2018. The results from AuRic were on two samples collected from the Enterprise Mine Shaft “presumable ore dump” suggested gold recoveries ranging from 88 to 92 percent. The ALS sample method is a less rigorous than that performed by AuRic, however, it provided Pershing Resources an opportunity to routinely test samples from other locations for comparative purposes. All bedrock grab sample collection, analysis, and interpretation were completed by Professional Geoscientists independent of Pershing Resources. Analysis were completed by ALS Laboratories, USA Inc. with an accredited and certified standard quality assurance and quality control methods and procedures. All quality assurance, quality control, and sample security work met expectations for their intended purposes.
Pershing Resources Company, Inc. is a mineral exploration company. The Company is focused on the discovery of copper, (Cu), gold, (Au), and silver, (Ag), mineral deposits in Arizona and Nevada. Its projects include Arizona Projects and Nevada Projects. The New Enterprise Project is the Companyâs lead project and is situated within the Laramide porphyry copper province. The New Enterprise project includes 375 unpatented mining claims totaling 7,747.5 acres of senior claim rights and includes four mine sites referred to as the: Enterprise, Jewell Tunnel, Century, and Standard Mines. The Arizona Projects is located within the Laramide Arc, which is host to a number of porphyry mines and between the Mineral Park Mine and the Bagdad Mine. The Nevada Projects include Klondyke and West Bolo. The West Bolo Project is located within the Hot Creek Range, within Nye County, approximately 10 miles north of the Tybo Mining District and 65 miles northeast of Tonopah, within central Nevada.