Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Pershimex Begins Drilling on the Villebon Property

VAL-D’OR, Québec, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Pershimex Resources Corporation ("Pershimex" or the "Company") (TSX Venture: PRO) is pleased to announce the start of a new drilling campaign on its Villebon Property. The Villebon project consists of 43 claims 100% owned by Pershimex and is located 40 km east of Val-d'Or (See Figure 1).

This drilling campaign of a total of 1,100 meters spread over a dozen targets will allow the Company to test the continuity of the mineralized structure containing the main existing gold veins on the property. To date, at least 8 gold mineralized veins are identified along a favorable structure of more than 1,200 m. (See Figure 2). In addition, some drillings will test the vertical extension of the mineralized system, which has never been verified at a depth of more than 150 m.

Recall that the last drilling campaign conducted by Pershimex in 2014 (formerly Khalkos Exploration) reported an intersection of 17.0 g/t Au over 7.8 m. (press release of July 9, 2014).

The main shear containing the mineralized veins is oriented in a NE-SW direction and has a locally plurimetric thickness. The veins of smoky quartz are mineralized in pyrite, sphalerite, galena and visible gold. The mineralized zone remains open in lateral extension and depth.

Following the recent success of the Courville project, the Pershimex team wants to set up the same foundations for a second project. The potential in high-grade gold areas on the surface is known and its development represents only small-scale investments. Together, this work will maintain the value of the property by keeping it active.

Courville Project, Pershing-Manitou area:

Meanwhile, regarding developments on the Courville project, Pershimex is eagerly awaiting government decisions on the approval of the Restoration Plan for the Pershing-Manitou site as well as the approval of the permit application for bulk sampling in the surface crown pillar of the former mine.

President statement

Robert Gagnon, President and Chief Executive Officer of the Company, said: “The recent update of the geological compilation and modelling work carried out by our technical team, as well as the favourable economic context for exploration, make it possible to reactivate the Villebon project and give it a prominent place in Pershimex's portfolio. I am confident that the drilling campaign that is beginning will yield positive results and demonstrate the excellent potential of the property.”

This press release was prepared by Robert Gagnon, professional geologist and President of Pershimex, a qualified person under National Instrument 43-101.

For more Information, Please Contact:

Robert Gagnon, President
Tél.: (819) 825-2303
Jacques Brunelle, VP Corporate Development
Tél : (819) 856-1387

Warning

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the information contained in this press release.

Facts stated in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that such statements are not guarantees of success and that future developments and results may differ from those projected in such forward-looking statements.

Photos accompanying this announcement are available at :

https://www.globenewswire.com/NewsRoom/AttachmentNg/187ce073-9441-4f26-bdaa-56c80f4139e8

https://www.globenewswire.com/NewsRoom/AttachmentNg/249cbabb-d808-4dee-8b75-f873c7e51f19

 


Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).