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pershimco resources inc (RSPRF) Snapshot

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pershimco resources inc (RSPRF) Details

Pershimco Resources Inc. engages in the acquisition, exploration, evaluation, development, and operation of mining properties. The company explores for gold and silver ores, and base metals. It holds interests in various mining properties in Canada and South America, including the Cerro Quema project in Panama and the Courville Gold Project in the Val-d'Or Gold Mining Camp in Canada. Pershimco Resources Inc. is headquartered in Rouyn-Noranda, Canada.

pershimco resources inc (RSPRF) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$250.0K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$6.4K
Vice-President of Latin-America
Total Annual Compensation: C$204.4K
Vice-President of Exploration
Total Annual Compensation: C$240.2K
Compensation as of Fiscal Year 2014.

pershimco resources inc (RSPRF) Key Developments

Pershimco Resources Appoints Pierre Monet as Vice-President Finance and Chief Financial Officer

Pershimco Resources Inc. announced the appointment of Mr. Pierre Monet as Vice-President Finance and Chief Financial Officer of the company. Mr. Monet is an experienced manager with 30 years of experience in accounting and financing of private and public corporations. He has occupied different upper management positions including more than 20 years in the resources sector. He was namely President and Chief Executive Officer of Malaga Inc. which had a tungsten mine in Peru, Vice-President Finance, Administration and Treasurer of Iron Ore Company of Canada (IOC) and Vice-President Finance of Produits Forestiers Alliance Inc. Mr. Monet will now act as Vice-President Finance and remains Chief Financial Officer for the Company. As Pershimco is presently moving towards an important phase of project financing of its Cerro Quema project in Panama, he will contribute to the success of the project with his vast experience, his knowledge of the mining sector and his skills.

Pershimco Resources Inc. Reports Results of First Phase of its Deep Drilling Campaign at Cerro Quema Project in Panama

Pershimco Resources Inc. reported the results of the first phase of its deep drilling campaign at its 100%-owned Cerro Quema Project in Panama. Initial drilling results at the Quema (PDH13059 TD 520.3 m, PDH14064 TD 901.55 m), La Pava (PDH14061 TD 910.3 m), and Idaida (PDH14062 TD 892.6 m, PDH14063 TD 899 m) targets have intercepted strong porphyry indicators below and adjacent to the high sulphidation (HS) system. These indicators include porphyry style veining as quartz 'A' and 'B' veins, quartz-sulfide 'D' veins, sulfide (chalcopyrite-bornite-pyrite) veins, and molybdenite veins. Additional indicators include porphyritic dyke rocks and breccias with veinlets; disseminations of copper and molybdenum sulfides; and, the presence of gypsum after anhydrite veins with disseminated sulfides. These findings are suggestive of porphyry style alteration and mineralization. The company has now intercepted 'porphyry indicators' at this project within a mineralized belt with a strike length of at least 12 kilometres (km.) Drilling to date has verified that this mineralization extends from the La Pava project in the west and the La Pelona Project in the east, all within the company's 15,000-hectare (Ha) concession area. The multiple zones with porphyry indicators intercepted along this corridor suggest a geological setting that is favourable for clustered porphyries. Clustered porphyries are common in many ocean island arc porphyry settings, where several discrete mineralized bodies are emplaced as clusters or structurally controlled alignments of copper-gold (with or without molybdenum) porphyry systems adjacent to or below nearby HS systems. The diamond drill rig was initially mobilized to the Quema-Quemita target, which is the first of four Induced Polarization (IP) chargeability targets identified by the previously completed IP geophysics program. The rig was mobilized to the site using existing access roads that required only minor earth-work preparation. Drill hole 1 (PDH 13059) at Quema-Quemita was terminated at 520.30 m and did not reach its planned depth of 800-900 m due to hole collapse. A second drill hole has recently been completed, which reached the 800 m targeted depth. It has also provided valuable new data that is being evaluated to help guide Pershimco's targeted exploration drilling of Cu-Au targets. Drill hole 3 (PDH 14062) at Idaida was located directly above the chargeability zone of the IP anomaly. The hole is approximately 220 m west-northwest of previous holes PDH13316 and PDH13317 at Cerro Idaida. This 892.6 m vertical hole exhibits weak acid leach (HS) alteration that is confined to narrow zones, compared to strong acid leach alteration in the previous holes to the east. Similar to both the Quema and La Pava drill holes, this hole also intercepted numerous strong "porphyry indicators" in the deeper portions of the drill hole. Drill hole 4 (PDH14063) tested the NE extension of the Idaida IP chargeability target. The drill collar was located directly above the point of chargeability over this IP anomaly. The hole is approximately 300 m northeast of previous holes PDH13316 and PDH13317 at Cerro Idaida. Drill hole 5 (PDH14064) at Quema is a 901.55 m, 160 azimuth, inclined (-70) hole. This angle hole is located approximately 220 m north and down slope from the collar of PDH13059.

Pershimco Resources Inc. Announces Drilling Results at Cerro Quema Project in Panama

Pershimco Resources Inc. announced the results of its independent technical report for its 100%-owned Cerro Quema Project in Panama. The latest technical work highlights a planned 10,000 tonnes-per-day ("tpd") production scenario generating strong economics through an annual production of more than 100,000 gold ounces for the first full year of production. An Environmental Management Program (PAMA) was approved by the Panamanian environmental authorities for the initial 5,000 tpd proposed plant and is now being amended for its expansion to 10,000 tpd. Recent drilling has established reserves of 488,000 ounces of gold oxides from 19.7 Mt of ore at 0.77g/t, based on a gold price of $1,275/oz; average annual gold production will total 78,546 oz of gold for a total of 417,819 oz of gold over 5.3 years. Metallurgical testing shows excellent leaching kinetics, with a conservative average recovery of 85.8% through a 10,000-tpd processing plant incorporating two stage crushing, conventional heap leach and a CIL/ADR circuit; Recent drilling has established reserves of 488,000 ounces of gold oxides from 19.7 Mt of ore at 0.77g/t, based on a gold price of $1,275/oz.


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