Feb 22 2019
Pershimex Resources Corporation takes pleasure in announcing that it has started a drill campaign on the Malartic property. This property, in association with Dundee Precious Metals, Inc., is situated near the fertile Cadillac Fault, approximately 12 km to the northwest of the Canadian Malartic Mine (Agnico Eagle Mines–Yamana Gold, Inc.) and 2 km to the east of the Lapa Mine (Agnico Eagle Mines).
This campaign, led by Dundee, will target at depth and along the Révillard-Malrobic trend for a total of about 5000 m with two rigs. In 2018, an efficient initial scout drilling program (approximately 2000 m in total) interrupted an important shear zone in hole MLDD003, which returned up to 1.39 g/t Au more than 10 m as well as 2 m at 5.5 g/t Au (Révillard target. On the same trend, but 3 km southeast from the Révillard target, hole MLDD007 (Malrobic target) intercepted three different mineralized shallow gold zones vertically returning less than 50 m deep: 7.15 g/t Au more than 3.3 m and 11.6 g/t Au more than 1.9 m. Also, another zone returned 2.3 g/t Au greater than 6 m and 7.6 g/t Au greater than 1.5 m. The new drilling phase will target the down plunge of the intersections and the extension at depth and along strike in these two holes. The Révillard and Malrobic prospects are divided by a gold-mineralized shear zone of 3 km, which is represented by the union of the Blake River Volcanic Group and the Kewagama sediment. In spite of the fact that the project is situated in Abitibi, in Malartic Township, it is to be noted that no drilling was performed on this passage.
The results of the 2018 drill campaign confirmed the presence of new gold economic occurrence in the prolific Malartic Township. The new drilling campaign for approximately 5,000 meters is a significant step forward for the project. This new phase reinforces our mission to be active in the most favorable areas of Abitibi for gold-bearing economic discoveries.
Robert Gagnon, President and CEO, Pershimex Resources Corporation.
After the announcement of the agreement in a press release dated May 23rd, 2017, the Malartic property will be expanded in collaboration with Dundee based on an option agreement providing Dundee the choice to gain a maximum undivided interest of 71% in the Malartic gold property.
Pershimex—Quick Overview
- Planned positioning in the Abitibi-Témiscamingue with over 800 claims
- Partner with Dundee Precious Metals on the Malartic property
- Possess 100% of the mining rights on the Courville property
Source: https://globenewswire.com