ROUYN-NORANDA, QUEBEC--(Marketwire - July 5, 2012) - Pershimco Resources Inc. (the "Corporation" or "Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce recent diamond drilling results at its 15,000 Ha 100% owned Cerro Quema property. This recent drilling was completed over the La Pava East deposit area. Please refer to Figure 1 showing drill hole locations.
Table 1: New Sulphide Results from La Pava East
Significant returned copper assay results include the following:
|DRILL HOLE NO.||
- *Drill holes are diamond tails on reverse circulation pre-collar drill holes.
- Drill intersections tabulated under 'Intercept' are reported as drilled thicknesses. These intercepts are apparent widths only.
This mineralization confirms the Corporation's model and coincides with the recently completed Induced Polarization (IP) ground geophysics program that identified a chargeability anomaly of approximate dimensions of 600m x 350m. Please refer to the Corporation's press release dated May 29th, 2012.
These new drill results have now extended the deeper sulphide mineralization an additional 250 meters further east. Based on the Corporation's model of the mineralized system, these results are interpreted to reflect outflow zones associated with the "feeder structures" that are the conduits for the high sulphidation Au-Cu mineralization at the Cerro Quema deposits. To date, the Corporation has not determined the depth extent of these structures nor their ultimate source.
Pershimco is encouraged by the addition of these drilling results that continue to validate the exploration model for the project. The Corporation will continue to systematically evaluate the potential for a copper-gold sulphide orebody below the La Pava and Quema/Quemita gold oxide resource. The Corporation also expects additional results from the laboratory on drill hole PDH11014 (La Pava) which showed strong visual sulphide content. Additionally, results are expected on seven drill holes on the Quema/Quemita system which also showed strong visual sulphide intercepts.
Quality Assurance / Quality Control ("QA/QC")
Drill core from the diamond and reverse circulation (RC) drill holes are transported by Pershimco technical personnel from the drill site to the core and sample prep facility on site. Once there, geologists and qualified technicians log, sample tag and half-split the core in 1 meter lengths using stationary saws. Individual sampled meter intervals of split core and RC chips are then put in tagged and sealed plastic bags with a standard, duplicate and blank inserted every 15 samples. The prepared samples are then sent to the Activation Laboratories (Actlabs) sample preparation facilities in Panama. Individual samples are inventoried by Actlabs personnel, dried, finely crushed to 70% at <2 mm, then pulverized to 85% at <75 μm, and riffle-split to 150 grams. Prepared samples are then placed into sealed 5-gallon plastic containers and shipped by courier services to the Actlabs main facilities in Ancaster (Ontario, Canada) for assaying, using a multi-element ICP method and fire assay method with atomic absorption finish for Gold, Silver and Copper. Over limit assays are done on samples with results greater than 2.5 g/t.
The information contained in this press release has been reviewed and approved by Dr. Michael D. Druecker, Ph.D., CPG, a Qualified Person under NI 43-101 rules and standards.
About Pershimco Resources Inc.
Pershimco Resources Inc. is a Canadian-based resources and exploration company listed on the TSX Venture Exchange and the Frankfurt Exchange. The Corporation holds several mining properties in Canada and South America, including the extraction permitted Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp, being explored in partnership with Osisko Mining Corporation. The Corporation is managed by skilled and reputable people with extensive mining, exploration and development experience. The Pershimco Team and its investors are the key to its success.
The Corporation's documents are available on www.sedar.com
Please visit the Corporation's website at www.pershimco.ca
Figure 1 is available at the following address: http://media3.marketwire.com/docs/Pershimco_Figure1-0704.pdf
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Statements made in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.