Pershimco Resources Inc.

Pershimco Resources Inc.

July 12, 2011 11:29 ET

Pershimco Now Extends the LaPava Gold-Copper Target More Than 500 Metres in Width at the Cerro Quema Project (Panama)

ROUYN-NORANDA, QUEBEC--(Marketwire - July 12, 2011) - PERSHIMCO RESOURCES INC. ("PERSHIMCO" or the "Company") (TSX VENTURE:PRO)(FRANKFURT:BIZ) is pleased to announce the initial results from the on-going ground geophysical survey (the "Survey") as part of the 2011 exploration campaign at the Company's Cerro Quema Gold-Copper Project (the "Project") in Panama.

The on-going Survey consists of a multi-system approach using a first stage, Schlumberger Electrical Array to define the electrical properties of the La Pava Gold-Copper mineralization, including thickness, resistivity and chargeability, which in turn would set the parameters of the second stage Induced Polarization ("IP") survey. In addition, Pershimco wanted to ascertain the efficiency of this inexpensive method in detecting sulphides at depths of 200 meters or more. A total of six (6) readings were done along Line T 5+00N located 500 meters north of, and parallel to, the LaPava.

Highlights of the Survey to date are as follows:

  • Preliminary inversion on resistivity has mapped the oxide-sulphide interface or the known gold bearing oxide zone and the underlying formational and/or supergene-enriched sulphide zone, located more than 500 meters north of the LaPava deposit which already hosts Mineral Resources in gold as well as copper intercepts and along a 1 kilometer strike length.
  • To date, some 52 kilometers of grid-lines are being cut at LaPava and the surrounding sector to be used in the continuation of the first stage Survey across the full 1.4 kilometer width of the LaPava Target and towards the Chontal Target, located some 2 kilometers further to the east. (Refer to figure 1 link below).
  • Chargeability has likely identified the sulphide zone showing a strong chargeability signature at depths ranging from 200 to 300 meters from surface between Lines 0+00E to beyond 4+00E over a 400 meters length leading towards the Chontal Target. (Refer to figure 2 link below).

Figure 1, Grid lines on LaPava Sector:

Figure 2 TL 5+00N, Preliminary Inversion on Shlumberger Essays:

In 2011, as the method responded well, Pershimco aims at expanding and define the known limits of the historic mineralization within the 17-kilometre Cerro Quema Gold-Copper Trend (the "Trend"), starting on La Pava, Chontal and Quema-Quemita targets.

The information contained in this news release has been reviewed and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Vice-President Exploration and Director, a Qualified Person under NI 43-101 rules and standards.

About Pershimco Resources Inc

Pershimco Resources Inc. is a Canadian-based resource and exploration corporation listed on the TSX Venture Exchange (symbol PRO.V) and the Frankfurt Exchange (symbol BIZ). The Corporation holds several mining properties in Canada and South America including the recently acquired Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d'Or Gold Mining Camp. The Corporation is managed by skilled, reputable people with extensive mining exploration and development experience. The Pershimco Team and our investors are the key to our success.

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