Pershing Resources Acquires Historic Standard Mine for Its New Enterprise Project
Pershing Resources Company (OTC PINK: PSGR) has completed a strategic acquisition of the historic Standard Mine, situated within its 100%-owned New Enterprise Project in Arizona. This acquisition, finalized on November 16, 2020, cost $75,000 and is aimed at leveraging the mine's porphyry-related mineral resource potential. Historical data indicates significant mineralization, including 1% copper and up to 0.20 oz/ton gold. The company plans further mapping and sampling to explore the mineral resource's viability.
- Strategic acquisition enhances potential for porphyry-related mineral resources.
- Historical data suggests significant mineralization, potentially increasing future revenues.
- The Standard Mine's previous operations may not reflect current mineral values.
- Uncertainties related to future exploration success and potential operational challenges.
Strategic Acquisition of the Standard Mine Completes Coverage Over Central Area of Porphyry-style Alteration System.
RENO, NV / ACCESSWIRE / December 2, 2020 / Pershing Resources Company, Inc., (OTC PINK:PSGR), a precious and base metals exploration and development company, today announced the strategic acquisition of the historic past producing Standard Mine located within its
Historical reports describe the Standard Mine as being active during World War I primarily for molybdenum and include a 459ft. vertical shaft with workings at the 200, 300, and 400ft. levels. A 100 ton per day mill had been installed on-site and subsequently dismantled and removed. At the 400ft. level, historical records report a 14ft. wide vein with
The Standard Mine underground workings were enclosed by a single unpatented mining claim held by a third party. The unpatented mining claim was acquired through a direct purchase transaction for
The technical content of this press release has been reviewed and/or prepared by Edward C. Walker, Ph.D., P.Geo., a qualified person and independent consultant.
About Pershing Resources
Pershing Resources is a precious and base metals exploration and development company with exploration projects held exclusively in North America. The Company is based in Reno, Nevada, and is currently focused on the development of its
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 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 and the risks associated with the pandemic caused by the novel coronavirus known as COVID-19.
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, whether because of new information, future events, or otherwise.
Contact:
Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Phone: 775-398-3124
Email: j.adams@pershingpm.com
SOURCE: Pershing Resources Company, Inc.
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