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Pershimex Resources Corporation drill intercept 10 meters at 1.39 grams/tonne gold on the Malartic property

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Pershimex Resources Corporation drill intercept 10 meters at 1.39 grams/tonne gold on the Malartic property

 

 

 

 

 

Pershimex Resources Corporation (TSX-V:PRO) is pleased to announce that the first phase of exploratory drilling has been completed on the Malartic property. This property, in partnership with Dundee Precious Metals Inc. is located near the prolific Cadillac Fault, about 12 km northwest of the Canadian Malartic Mine (Agnico Eagle-Yamana Gold Mines Inc.), and 2 km east of the Lapa Mine (Agnico Eagle Mines).

 

 

A total of 1,942 meters of drilling has been made (9 drill holes) on the entire Malartic property. The analysis results are available for the first 3 drill holes (MLDD001 to MLDD003) that have been drilled 500 m northwest of the historic Révillard gold showing. The drilling carried out demonstrates the continuation of the deposit of the Révillard gold showing for over 500 m. The mineralized zone is included in a major shear system located in the stratigraphic contact of mafic volcanics of the Blake River Group and sediments of the Kewagama Group. Mineralization consists of pyrite-pyrrhotite-carbonate and tourmaline-bearing quartz veins and veinlets in brecciated and sheared zones. The best analysis results are comprised in a sheared and veined 10-meter zone (120.1 to 130 m). The MLDD003 drill hole intercepted 1.39 g/t gold over 10 meters including 2 meters at 5.5 g/t gold. True widths are estimated to be 7.5 metres and 1.5 metres respectively. Note that based on the available geological observations, large areas of alterations were intercepted in the MLDD004, MLDD007 and MLDD009 drill holes. These drill holes are located on the same favorable geological segment (contact of mafic volcanics of the Black River Group and sediments of the Kewagama Group), but more than 3 km east of the first drill holes. It should also be noted that the MLDD007 drill hole, which aimed to validate in depth the continuity of the historical ASPI occurrence (located at more than 400 m southeast of the Malrobic occurrence) intercepted four visible gold grains (0.5-1.0mm across) associated with quartz-carbonate-pyrrhotite veins in an intermediate to mafic intrusion.

 

 

Robert Gagnon, President and Chief Executive Officer of the Corporation, said, “This first drilling campaign follows our successful mining consolidation planning in the region and a strategic partnership with Dundee. The high-quality targets that have been drilled resulted in the interception of new economic gold mineralization previously unknown on the Malartic property.”

 

 

Pershimex Resources Corporation – Short overview

 

  • Holds more than 800 claims in the Abitibi-Témiscamingue.
  • Partner with Dundee Precious Metals on the Malartic property.
  • Partner with Chalice Gold Mines on the Forsan property.

 

 

Following an analytical quality assurance and control program, blank samples, standards and duplicates were added to drill core samples from the Malartic property before being analyzed by the Bureau Veritas laboratory of Timmins, Ontario, following the fire assay analysis of 50 gram sample pulps and detection of gold by atomic absorption spectroscopy method.

 

 

This press release was prepared by Robert Gagnon, Geologist, President of Pershimex, and Qualified Person under NI 43-101.

 

Posted April 24, 2018

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