Pershimco Resources has reported the further assay results from the current 2011 exploration at the Cerro Quema in Panama, which is a gold-copper project.
The company is continuing a proposed 6,000 m drill program in east-southeast’s western 4 km section trending 17 km Cerro Quema trend comprising Quema-Quemita, La Pava and Chontal targets. The objective is to extend the mineralization external to the confinement of the significant mineralization.
The company has obtained the recent results from the drill hole PDH-11-005 in the LaPava Target, which is situated 190 m west-southwest of the former PDH-11-006 hole, and the PDH-11-009 step out hole that is sited 225 m north of the PDH-11-006 hole. It has also got the assay results from the Quema Quemita Target, through the combined DDH and reverse circulation (RCH) PRH-11-002+PDH-11-502, PRH-11-003+PDH-11-503, and PRH-11-004 holes.
The company is waiting for the assay results from the 11 out of 14 completed RCH and 5 out of the 13 completed DDH.
The CEO and President has commented that the current drill program along with the geophysical work authenticates the increase of the Gold-Copper system size at the La Pava Target, and it is currently expected to cover 400 m width by a depth of 150 m in average along the famous 1,000 m LaPava ridge line, which hosts of 7,231,000 t of Indicated Mineral Resources grading 1.10 g/t gold for 256,000 oz.
He also stated that the company has confirmed that the Quema-Quemita Target is having Gold and Copper in the 4 km section including a significant low-grade Gold-Copper and high tonnage prospective. The drilling is being continued in the section to upgrade this prospective into compliant mineral resources by this year end.
Source: http://www.pershimco.ca/