Image credit: Mark Agnor/Shutterstock
Pershimex Resources reports that it recently received the final payment upon selling the mineralized material pile from the site of the previous Pershing-Manitou mine.
In addition to the completion of the partial restoration work, this payment successfully finalizes the initial phase of the ongoing project on the Courville property.
After discussions with a partner from the region, the entire material (2000 tons) was carried to the milling site in early August 2020. As a result of the low tonnage available for processing, it was collectively decided that Pershimex would continue with the sale of its mineralized material instead of a contract treatment.
This solution guarantees that the real content of the mineralized material as well as the metallurgical balance cannot be produced elaborately. In accordance with Pershimex’s restoration agreement with the Quebec Ministry of Natural Resources, Pershimex will have to share its data with the Government.
If the requested complete documents can be produced positively, Pershimex will have to offer an explanatory report to the Government, for the restoration to be regarded as a final one.
Moreover, it is essential to perform annual tracking of vegetation for a period of three years from this year. All such needs must be met for the site to be regarded as entirely restored.
All of Pershimex’s approach to the Government are received well and shows the gravity of the approach to the development and execution of an innovative and potential mining project on the Courville property.
Having completed this initial phase, Pershimex could convert an orphan mining site under the liability of the Québec Government into a considerable business opportunity for Pershimex and all stakeholders.
In fact, the operation enabled the access road to be restored for heavy transport. The elimination of the pile of material has led to a direct access to the former Pershing-Manitou mine shaft and the major outcrop of the mineralized zone included in the surface crown pillar.
One more significant fact to note is what was so far considered as a waste material could be transformed into ore. The profits produced by the sale of the ore ($25,000) decrease the charges of the work that was performed.
The complete Phase 1 will have cost only a few thousand dollars and will have enabled the main elements of Phase 2 to be put into effect—an elaborate understanding of gold mineralization, a refreshment of access infrastructure, direct access of the surface crown pillar, and firm relationships with main stakeholders like the Municipality of Belcourt, the Ministry of Natural Resources, the Ministry of Environment, and various mining producers.
With the conclusion and the success of Phase 1, we are able to begin Phase 2 of our ambitious project to extract the surface crown pillar of the former Pershing-Manitou mine. We have enough money in the bank account with more than $1.5 million to begin engineering work and obtain the necessary permits to complete the phase 2.
Robert Gagnon, President and CEO, Pershimex Resources Corporation Inc.