RENO, NV--(Marketwired - September 29, 2016) - Pershing Resources Company, Inc., (OTC PINK: PSGR) announced that it has renewed its existing BLM claims in Nevada and Arizona and has expanded its New Enterprise Project area to cover an additional 320 acres or a total area of 480 acres. The Company expanded the claimed area following exploration work indicated the possible presence of an ore body extending from the original claim area. The Company has begun a mapping and sampling program on the expanded claim area. An NI-43101 report on the original 8 claims was written in 2013 and was revised in 2016. A Phase One study on the expanded claim area is planned to begin later this year. Pending results of the study, a Phase Two drilling program is tentatively planned for 2017. Pershing Resources acquired the New Enterprise Mine in 2015. Pershing Resources' CEO Steve Plumb commented, "We have had very promising preliminary results from our investigation of the area surrounding our original New Enterprise claims and took the step to expand the project area. If the early indications prove out, we should have a lucrative property to work with. We are looking forward to the completion of our Technical Team's analysis later this year."
Updates on Pershing Resources' New Enterprise Project can be followed at: http://www.pershingpm.com/projects/the-new-enterprise-project.
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About Pershing Resources
Pershing Resources is a development stage precious metals producer, focused on projects located in North America. The Company is based in Reno, Nevada and owns a development facility near Kingman, Arizona.
Our strategy is built on three basic components: the acquisition of North American properties near mines with historical precious metals production, the development of high tonnage projects on commercially viable grades of precious metals with proximity to historical occurrences and, the application of leading edge technologies to develop efficient and environmentally favorable extraction and recovery processes. This three-tier strategy supports our short and long-term goals of positive cash flow, profitability and growing shareholder value through expansion. Supplemental to our strategy, we are focused on five key attributes. Those being; pursuit of quality growth, maintaining low cash costs, prudent financing and fiduciary practices, building a strong balance sheet and, conducting business in a responsible manner.
The Company's current assets are comprised of three properties with projects currently in development. The largest being the Marco Project located near Lovelock, Nevada was acquired in 2004. The New Enterprise Project and the Gold Lake Project were acquired in 2015 and are located near Kingman, Arizona. The Company is presently in various stages of development on each of these properties. As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.