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Pershing Resources Receives Initial Review of Airborne Magnetic Survey Data for Its New Enterprise Porphyry Copper-Gold Project
Pershing Resources Receives Initial Review of Airborne Magnetic Survey Data for Its New Enterprise Porphyry Copper-Gold Project.
About this update from Pershing Resources Company, Inc.
[{"type":"text","content":"Initial Airborne Magnetic Data Appears to Corroborate Previously Suggested Structural Association with Known Porphyry Copper-Gold-Silver and Molybdenum Mineralization RENO, NV / ACCESSWIRE / December 17, 2020 / Pershing Resources Company, Inc. (" Pershing Resources" or the "Company"), (OTC PINK:PSGR), today announced that the Company has received an initial review of the heliborne magnetic survey executed on its New Enterprise copper-gold project in November. The initial review of the magnetic data appears to corroborate that a set of subparallel, northerly trending magnetically rendered structures are directly associated with known porphyry-related copper, gold, silver, and molybdenum mineralization within the New Enterprise Project. The intersection points along the strike of these northerly trending structures with northeasterly trending magnetically rendered structures have also been identified as a key association and control to the distribution of the porphyry-related mineralization. A comparable structural association and control is also described at the past producing Mineral Park (20 miles to the northwest) and the currently producing Bagdad porphyry copper and molybdenum mines (45 miles to the southeast). The combination of these newly defined structures does not appear to have been considered in previous mineralization explorations of the area as a primary control to the porphyry-related copper, gold, and molybdenum mineralization within the New Enterprise Project.With the supporting magnetic survey results, the initial estimated 1.2-mile-long northerly trending structures (originally referred to as "vein systems") can now be traced for approximately four miles within the New Enterprise project. These suggested porphyry-related mineralized structures also appear to separate into two the argillic and phyllic porphyry-related geothermal alteration system highlighted in recent hyperspectral satellite imagery data (see Pershing press release dated March 19, 2020, https://www.pershingpm.com/news-media/press-releases/detail/72/pershing-resources-acquires-the-century-claim-property-and) and historically mapped "pyrite-shell" (outlined by Vuich, 1974). This correlation may indicate that these structures may have manifested primary control to the porphyry-related geothermal alteration sy...