Pershimco Resources Inc.
TSX VENTURE : PRO
FRANKFURT : BIZ

Pershimco Resources Inc.

February 24, 2010 13:24 ET

Pershimco Resources Becomes a Major Player in the Abitibi's Golden Vallee by Increasing its Presence in the Amos-Barraute Axis And Announces Change to the Executive Management Team

ROUYN-NORANDA, QUEBEC--(Marketwire - Feb. 24, 2010) - Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFURT:BIZ) (the "Corporation" or "Pershimco") announces the acquisition of 98 claims on the Amos-Barraute axis expanding its Courville project in Abitibi (the "Property"). The Ministère des Ressources Naturelles has recently approved the mineral rights on the claims with its Courville Project, raising the total of claim in which the Corporation have an interest in to 337 claims.

The acquisition is part of Pershimco's exploration program focused on developing the Volcanogenic Massive Sulphides (VMS) targets along the Amos-Barraute axis recently highlighted by Natural Resources Canada and the Geological Survey of Canada in their recent studies on VSM in the Abitibi region. This acquisition will allow Pershimco to have the option to hold 100% of the interests over 13,655 hectares in this trend hosting VMS deposits in Abitibi. In addition, many felsics intrusive are located on the new acquisition. Those structures will be systematically analysed to determine their gold potential. The Thibodeau Intrusive Complexe has already demonstrated its potential as a gold bearing felsic intrusive.

The management of the Corporation believes that the potential to define a significant historical mineralization corridor along the expanded Courville project axis is increased due to the possibility to compile the information under one roof. We believe that the exploration risk at Courville will be significantly reduced due to the abundance of historical information that Pershimco will compile and interpret over the next months. Numerous historical drill intercepts of gold mineralization are present within a known mineralized corridor linked to the recently released study on VMS by the Ministères des Ressources Naturelles which suggests to us that the mineralization in the axis along the Amos-Barraute is an exploration target for the region.

Moreover, the Corporation announces the appointment of Mr. Jacques Fortin as interim Vice President of Finance of Pershimco. Mr. Fortin, who remains Director and Secretary, perfectly knows the goals to achieve for Pershimco. Accordingly, Ms. Monique Plante is replaced as interim Vice President of Finance of Pershimco to meet other professional challenges.

FOR THE BOARD OF DIRECTORS,
Alain Bureau, President and CEO

About Pershimco Resources Inc

Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFURT:BIZ) is a canadian-based resource exploration company which holds strategic properties located in Quebec, Canada and in the state of Chihuahua, Mexico. 

The properties include a possibility of a 100% interest in the highly prospective Courville Gold Project located in the Val-d'Or/Malartic Gold Minning Camp in Quebec. The Camp has historically produced 25 million onces of gold. A 50% interest in contiguous properties located in Mexico in the Cusi Silver Mining Camp being explored with its partner Dia Bras Exploration Inc. and the wholly owned polymetallic Skarn Magistral Project, also located in the State of Chihuahua, Mexico.

Company's documents are available on www.sedar.com.

For more information, please visit our site www.pershimco.ca

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Pershimco Resources Inc.
    Alain Bureau, ing.
    President and CEO
    819-797-2180