The Albany Gazette - Pershing Resources Sets Plans For Exploration Programs on its Mohave Gold Property and its New Enterprise Copper/Gold Project in Northern Arizona

"With our BLM obligations behind us, Pershing is now positioned to focus on the next stage of growth," said COO Joel Adams. "We are actively pursuing private funding to raise funds to commence an initial exploration phase, that will include drill tests, at the promising Mohave Project that should allow us to prepare a SK-1300 compilation report for this property and then, due to its proximity, we also expect to focus on the early-exploration phase as outlined in Pershing's SK-1300 Technical Report on the New Enterprise Project. Both projects are conveniently located north and south of Kingman Arizona. Pershing's strategy is to build value through disciplined technical work, while leveraging today's favorable commodity outlook."

The New Enterprise Project is underpinned by our conceptual exploration model that integrates remote sensing data (airborne geophysics and satellite imagery) Interpretation of these company owned datasets has identified intriguing areas of overlapping alteration and structural features that were not previously considered features that may have concealed significant mineral potential. A three-phase $2.3M exploration program has been designed to further refine this conceptual model and determine the scope of the interpreted structurally controlled mineralization across the project area as follows:

• Phase 1 involves continuation of field mapping, sampling and follow-up ground geophysics estimated to cost $600K,

• Phase 2 involves initial drill testing of known mineral occurrences, that have been prioritized in phase 1 by ground geophysics, estimated to cost $700K,

• Phase 3 involves follow-up drilling to further prioritize, delineate and assess the size/grade potential of the highest priority occurrence (near surface and to depth), estimated to cost $1M.

The New Enterprise Property is strategically located between two major copper-producing mines the Mineral Park Mine (20 miles northwest) and the Bagdad Mine (45 miles southeast) sitting in the heart of the Laramide Arc, one of North America's most prolific copper belts. Highlights and details of this intriguing project have been presented in a S-K 1300 technical report summary with an effective date of May 22, 2022 was prepared by an Independent Qualified Person, The New Enterprise Report and Presentation are available on the Company's website at: https://www.pershingpm.com/projects/the-new-enterprise-project/technical-presentation

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This announcement appears for information purposes only and does not constitute an offer or solicitation of an offer to acquire, purchase or subscribe for any securities of the Company.

Forward-Looking Statements

The information contained in this press release, as well as the information on the Company's website, is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein, and, on the Company's, website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment, and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "hope," "intend," "may," "might," "plan," "possibility," "potential," "predict," "project," "should,'' "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, and/or achievements of the Company or of the mining industry, in general, to be materially different from future results, performance, and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to differences between actual and estimated mineral reserves, fluctuations in gold, silver, copper, and other precious and base metals commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, uncertainty of meeting anticipated program milestones for the Company's mineral projects, the risks associated with the invasion of Ukraine by Russia and other risks and uncertainties affecting the Company's business operations and financial condition.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise, or correct any of the forward-looking statements.

CONTACT:

Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Phone: 775-398-3124
Email: [email protected]

SOURCE: Pershing Resources Company, Inc.

View the original press release on ACCESS Newswire

(A.Moore--TAG)