Pershimco Resources Inc.
TSX VENTURE : PRO

Pershimco Resources Inc.

November 09, 2006 12:37 ET

Pershimco Update from Partner Dia Bras at Cusi, Drilling Intersects 188 g/t Silver Over 38 Meters

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Nov. 9, 2006) - Pershimco Resources (TSX VENTURE:PRO) is pleased to announce an intersection of 38 meters grading 188 g/t Ag as part of the latest exploration results, outlined by its partner Dia Bras Exploration Inc. (TSX VENTURE:DIB), from its San Miguel property.

THE RESULTS:

Hole DC06B030 drilled by Dia Bras to test the La Bamba Open Pit postion of the San Miguel Property cut from 35 meters to 78 meters, a mineralized breccia of 38 metres grading 0.10 g/t Au, 188.48 g/t Ag, 0.02 % Cu, 0.28 % Pb and 0.14 % Zn. Included in this interval are sections of 7 meters at 390 g/t Ag and one-meter at 981 g/t Ag. La Bamba is an open pit that follows a NE trending 30 meter thick mineralized breccia with a steep SE dip. The pit measures 100 meters long by an average of 20 meters wide and up to 30 meters deep. The mineralized breccia, which includes the La Bamba and San Miguel mineralization, has a known strike length of 600 meters. This mineralized structure has been mapped Dia Bras personnel and extend for an additional 1,000 meters.

The following drill holes were collared to test the extension on strike and at depth of the breccia at La Bamba. One drill is on site and a second one will be mobilized to accelerate the evaluation.



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AU AG CU PB ZN
DRILL HOLE FROM TO LENGTH (G/T) (G/T) (%) (%) (%)
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LA BAMBA ZONE
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DC06B30 35.00 73.00 38.00 0.10 189 0.02 0.28 0.14
including 52.00 59.00 7.00 0.25 390 0.04 0.67 0.23
including 39.00 40.00 1.00 0.73 981 0.04 1.09 0.11
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DC06B32 Results are pending
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DC06B34 31.15 37.52 6.37 0.13 165 0.03 0.25 0.08
including 35.52 36.52 1.00 0.33 381 0.04 0.14 0.07
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DC06B36 41.15 63.65 22.50 0.07 113 0.01 0.05 0.08
including 57.65 62.65 5.00 0.18 277 0.02 0.13 0.11
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DC06B37 57.30 67.00 9.70 - 110 0.04 0.05 0.06
including 64.00 65.00 1.00 - 370 0.05 0.14 0.07
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DC06B40 38.00 41.00 3.00 - 153 0.01 0.12 0.09
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DC06B42 69.50 80.00 10.50 - 194 0.16 0.03 0.15
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Two additional drill holes were drilled at San Miguel to test mineralization easily accessible from the San Miguel shaft with the following results:



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AU AG CU PB ZN
DRILL HOLE FROM TO LENGTH (G/T) (G/T) (%) (%) (%)
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SAN MIGUEL ZONE
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10 meters -- North of the shaft
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DC06B26 44.00 50.00 6.00 0.07 92 0.03 0.75 0.24
including 44.00 45.00 1.00 0.14 199 0.09 0.65 0.58
including 48.00 49.00 1.00 0.20 253 0.03 3.02 0.43
------------------------------------------------------------------
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75.00 79.00 4.00 0.05 121 0.02 0.10 0.10
including 75.00 76.00 1.00 0.06 148 0.02 0.14 0.07
including 78.00 79.00 1.00 0.04 139 0.03 0.09 0.11
------------------------------------------------------------------
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89.00 90.00 1.00 0.05 111 0.02 0.05 0.07
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93.00 96.00 3.00 0.08 116 0.03 0.11 0.12
including 95.00 96.00 1.00 0.14 198 0.05 0.16 0.19
------------------------------------------------------------------
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10 meters -- South of the shaft
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DC06B27 87.00 88.00 1.00 0.02 28 0.01 0.27 1.18
93.00 94.00 1.00 0.03 226 0.04 0.25 0.71
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La Bamba and San Miguel are historic producing mines that were optioned to Dia Bras, whereby they can earn a 70% direct property interest. Although the exploration program has only been in progress for five months, significant silver values have been identified and mineralization from various portions of the historic mines will be processed at the Dia Bras Malpaso mill beginning in November 2006. These early results support the interpretation that significant silver mineralization remains to be identified in the district.


QUALITY ASSURANCE AND QUALITY CONTROL

All drill hole samples were assayed by ALS Chemex, Vancouver, Canada, with the exception of the samples from hole DC06B40 and 42 that were assayed at ERSA Global Laboratory at their facilities in Torreon, Mexico, using the using ICP method, and hole DC06B37 that was analyzed by atomic absorption at the the Dia Bras Malpaso Laboratory.

COMMENTS:

Mr. Jean Lafleur, P. Geo., Director of Pershimco, states: "(...) The San Miguel Property offers a significant potential for precious and base metals.(...) (Furthermore) ... both parties are working diligently in the short term to evaluate the potential of this mineral resources". Mr. Lafleur recently visited the San Miguel Property and had the opportunity to review the Dia Bras exploration programs that have been executed there to this date. Mr. Lafleur is also a "Qualified Person", under the National Instrument 43-101 standards, for all of Pershimco's properties.

Mr. Roger Bureau, president of the board added: "...the report that we got from Mr. Lafleur and the Pershimco's representatives, who visited San Miguel and La Bamba properties in October made us expect promising results. (...) What we published today meets our expectations."

ON BEHALF OF THE BOARD OF DIRECTORS

Roger Bureau, President

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian based junior resource and exploration company trading under the symbol PRO on the TSX Venture Exchange. The Company holds 100% of several mining properties including the Courville Gold Project, near the Val-d'Or Gold Mining Camp, The Company also has an option to acquire 100% of a number of Canadian and Mexican properties including multiple properties in the State of Chihuahua. Mexico. Pershimco's wholly owned San Miguel Silver-Zinc Property, in the Cusi Mining District is under option to Dia Bras Exploration (TSX-V: DIB). Both partners are aggressively advancing the Property towards the pilot mining stage by the first quarter of 2007.

The Company's strategy is to advance its exploration properties towards metal reserves and eventual production, covering the exploration and development of the Courville Gold Project. Pershimco's management expects positive results from the pilot mining program at San Miguel.

FORWARD-LOOKING STATEMENTS -- This press release contains forward-looking statements reflecting Pershimco objectives, estimates, expectations and the impact of acquisitions on Pershimco's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Pershimco's projections or expectations.

Contact Information

  • Pershimco Resources Inc.
    Mr. Roger Bureau
    President
    866-797-2180
    819-797-9617 (FAX)
    www.pershimco.ca