Pershing Gold Announces Expanded Mineralization at Relief Canyon

- March 19th, 2018

Pershing Gold Corporation (TSX:PGLC) has announced initial results from its 2018 drilling program at its Relief Canyon mine project.

Pershing Gold Corporation (TSX:PGLC) has announced initial results from its 2018 drilling program at its Relief Canyon mine project.

As quoted in the press release:

In January 2018, Pershing Gold began a drilling program focusing on resource growth and reserve expansion of the West Step Out Area of its Relief Canyon Mine project (See Figures 1 and 2 below). Initial assay results have been received for six of the eight completed angled-core-holes and include high-grade intervals of 1.764 ounces per ton (“opt”), or 60.4 grams per tonne (“gpt”), of gold (“Au”) over a width of 5.0 feet (1.52 meters) in hole RC18-503, and 0.87 opt, or 29.8 gpt, Au over a width of 3.9 feet (1.19 meters) in hole RC18-506.

Highlights are as follows:

  • RC18-500: 20.5 feet (6.25 meters) at 0.05 opt Au (1.61 gpt Au)
  • RC18-501: 53.7 feet (16.4 meters) at 0.04 opt Au (1.31 gpt Au)
  • RC18-502:
    • 33.0 feet (10.1 meters) at 0.13 opt Au (4.31 gpt Au)
    • 31.9 feet (9.73 meters) at 0.03 opt Au (1.16 gpt Au)
  • RC18-503: 14.0 feet (4.27 meters) at 0.64 opt Au (21.78 gpt Au)
  • RC18-506:
    • 18.8 feet (5.73 meters) at 0.19 opt Au (6.57 gpt Au)
    • 29.4 feet (8.96 meters) at 0.08 opt (2.88 gpt Au)

Stephen D. Alfers, chairman, president and CEO, commented:

We are encouraged by these initial results, that include step-outs as wide as 800 feet. We believe this drilling confirms the lateral continuity of the three-stacked mineralized zones to the southwest of the existing pits at the project. We are confident that these results will expand the economic pit shell, thereby increasing the size of the resource, and may increase the average grade of the resource.

The 2018 drilling program continues to work lockstep with the Company’s plans to advance Relief Canyon to commercial production. The program’s stated goals of adding near-term ounces, continuing to extend mine-life and adding to the overall production profile for the project, remain the primary focus of the program.

Click here to read the full Pershing Gold Corporation (TSX:PGLC) press release.

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