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Pershimex Resources Corp.
Summary
| Project: | Malartic | |
|---|---|---|
| Deposit: | Malartic | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-5-2018: Pershimex Resources Corp. announces an Exploration/Drilling Update report for its Malartic deposit at the Malartic project. Drilling results incl. 3.3m @ 7.15g/t Au from 34.5m. Rouyn-Noranda, Québec, May 17, 2018: Pershimex Resources Corporatio | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert Gagnon (Internal) | |
| ABSTRACT: | Rouyn-Noranda, Québec, May 17, 2018: Pershimex Resources Corporation (“Pershimex” or the “Company”) (TSX VENTURE: PRO) is pleased to announce that the results of the MLDD007 drill hole with visible gold (previously announced in the April 24, 2018 press release) confirm the discovery of a new high-grade gold showing on the Malartic property. This property, which is being explored pursuant to an option agreement with Dundee Precious Metals Inc. (“Dundee”) is located near the prolific Cadillac Fault, about 12 km northwest of the Canadian Malartic Mine (Agnico EagleYamana Gold Mines Inc.), and 2 km east of the Lapa Mine (Agnico Eagle Mines). The MLDD007 drill hole intersected three separate mineralization zones within sheared intermediate to mafic intrusive rocks. Best intercept includes 7.15 g/t Au over 3.3 meters at 34.5 to 37.8 meters downhole interval, including 11.6 g/t Au over 1.9 meters between 35.9 to 37.8 meters. The mineralization is related to quartz-carbonate-pyrrhotite veins in a sheared intermediate intrusion (diorite). All drill core fragments with observed visible gold were included in the analyzed samples, independently to their position relative to the orientation line of the drill core. Another zone returned 2.3 g/t Au over 6 meters including 7.6 g/t Au over 1.5 meters at 43.2 to 49.2 meters. The high-grade gold zones are associated with veinlets of quartz-carbonate cross-cutting the diorite. Visible gold was observed in veins, but also in the host rock. The gold mineralization is therefore not strictly confined to quartz veinlets and veins but to a wider mineralized zone confirmed by drilling over more than 10 meters of thickness. This new gold discovery is situated near the surface, less than 50 vertical meters in a new sector, south of the historically identified ASPI showing. | |
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