{"id":1101343,"date":"2019-02-21T22:17:47","date_gmt":"2019-02-21T22:17:47","guid":{"rendered":"http:\/\/resourceworld.com\/?p=54950"},"modified":"2019-02-21T22:17:47","modified_gmt":"2019-02-21T22:17:47","slug":"pershimex-and-dundee-launch-malartic-drill-program","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1101343","title":{"rendered":"Pershimex and Dundee launch Malartic drill program"},"content":{"rendered":"

\"\"<\/a>Pershimex Resources Corp.<\/strong> [PRO-TSXV], formerly known as Khalkos Exploration, and Dundee Precious Metals Inc.<\/strong> [DPM-TSX] have launched a new drill program at the Malartic gold property near Val d\u2019Or, Quebec.<\/p>\n

The property is located close to the prolific Cadillac fault, about 12 km north of the Canadian Malartic Mine (Agnico-Eagle Mines Ltd. <\/strong>[AEM-TSX, NYSE] and Yamana Gold Inc. <\/strong>[YRI-TSX; AUY-NYSE]), and 2 km east of Agnico\u2019s Lapa Mine .<\/p>\n

Under a May 2017 agreement, Dundee has the option to acquire a 71% interest in the Malartic gold property.<\/p>\n

The drilling campaign will be led by Dundee. It will target a depth and along the Revillard-Malrobic trend for a total of approximately 5,000 metres with two rigs.<\/p>\n

In 2018, successful first scout drilling (totalling about 2,000 metres) intercepted a major shear in hole MLDD003, which returned up to 1.39 g\/t gold over 10 metres, including 2.0 metres at 5.5 g\/t gold (Revillard target).<\/p>\n

On the same trend, but 3 km southeast from the Revillard target, hole MLDD007 (Malrobic target) intercepted three separate mineralized shallow gold zones less than 50 metres deep vertically. It returned 7.15 g\/t gold over 3.3 metres, including 11.6 g\/t gold over 1.9 metres.<\/p>\n

Another zone returned 2.3 g\/t gold over 6.0 metres, including 7.6 g\/t gold over 1.5 metres.<\/p>\n

The new drilling phase will target at depth and along strike the extension and the down plunge of the intersections in these two holes.<\/p>\n

\u201cThe results of the 2018 drill campaign confirmed the presence of a new gold economic occurrence in the prolific Malartic Twp.,\u201d said Pershimex Resources President and CEO Robert Gagnon.<\/p>\n

\u201cThe new drill campaign for approximately 5,000 metres is a significant step forward for the project,\u201d he said. \u201cThe new phase reinforces our mission to be active in the most favourable areas of Abitibi for gold-bearing economic discoveries.\u201d<\/p>\n

Pershimex shares were unchanged at 3 cents on Thursday and trade in a 52-week range of $0.025 and 10.5 cents.<\/p>\n

Dundee advanced 2.07% or $0.09 to $4.44 on volume of 437,304. The 52-week range is $2.56 and $4.44. However, the stock traded up to $4.52 on Thursday.<\/p>\n

Pershimex recently raised $200,000 from a non-brokered private placement of 200 units priced at $1,000 per unit. Each unit consists of 10,000 flow-through common shares at 8 cents each, 2,500 non-flow through common shares at 8 cents and 12,500 common share purchase warrants.<\/p>\n

Each whole warrant entitles the holder, subject to an adjustment in certain circumstances, to acquire one additional non-flow through common share at 10 cents each for a period of 12 months from closing of the private placement<\/p>\n

Each unit, common share and warrant were subject to a mandatory holding period of four months and one day from closing of the private placement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pershimex Resources Corp. [PRO-TSXV], formerly known as Khalkos Exploration, and Dundee Precious Metals Inc. [DPM-TSX] have launched a new drill program at the Malartic gold property near Val d’Or, Quebec…. Read more »<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101343"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1101343"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101343\/revisions"}],"predecessor-version":[{"id":1101344,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1101343\/revisions\/1101344"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1101343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1101343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1101343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}