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Pershing Gold Corp.
Summary
| Project: | Relief Canyon | |
|---|---|---|
| Deposit: | Relief Canyon | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 9/6/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-9-2016: Pershing Gold Corp. announces an Exploration/Drilling Update report for its Relief Canyon deposit at the Relief Canyon project. Drilling results incl. 50.7m @ 1.597g/t Au, 23.5g/t Ag. LAKEWOOD, Colo., September 6, 2016 (PR NEWSWIRE)— Pershing Go | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Larry L. Hillesland (Not stated) | |
| ABSTRACT: | LAKEWOOD, Colo., September 6, 2016 (PR NEWSWIRE)— Pershing Gold Corporation (NASDAQ:PGLC) (FWB:7PG1) ("Pershing Gold" or the "Company"), the emerging Nevada gold producer advancing the Relief Canyon mine, today announces initial results from Phase 1 of its 2016 Drilling Program (the “Program”). Pershing Gold is executing a three phase drilling program for 2016-2017 designed to test opportunities identified in the Company’s recently published Preliminary Economic Assessment (“PEA”). Phase 1 includes step-out drilling to test potential extensions of the highgrade zones at Relief Canyon discovered in the North Target Area in 2014-2015. Pershing Gold has 16 additional holes planned for Phase 1 in 2016. Results are reported in feet (“ft”) and meters (“m”), and in grams per tonne (“gpt”) and ounces per ton (“oz/ton”) of gold (“Au”) or silver (“Ag”). “We are excited about RC16-462 for a number of reasons. First, with a 200-foot step-out from previous drilling, we have intersected all three zones of mineralization known at the Relief Canyon deposit; the Main Zone, the Lower Zone and the Jasperoid Zone,” stated Stephen D. Alfers, Pershing Gold’s Chairman, President and CEO. “These three zones carry excellent grades that are more than twice the average grade of the existing Relief Canyon PEA and 43-101 resource. Finally, we believe that the mineralization encountered here is open pit-able, with an overall strip ratio expected to be around 4:1. This discovery not only brings the potential to add ounces and extend the Relief Canyon mine life, but also to further improve the overall economics of the Relief Canyon project,” said Alfers. | |
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