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Thursday, April 24 2014 @ 04:54 AM EDT

Pershimco Intercepts 36m @ 1.54 g/t Gold & 18m @ 1.47% Copper

Gold & Mining ROUYN-NORANDA, QUEBEC -- Pershimco Resources Inc. is pleased to announce additional results from its ongoing Diamond drilling and Reverse Circulation (RC) resource definition drilling programs at its 15,000 Ha 100% owned Cerro Quema property. At the La Pava Deposit area, significant intercepts include PRH-12141 returning 36m @ 1.54g/t Au from surface entirely within the oxide zone and PDH-12057 returning 18m @ 1.47% Cu from 108m within the sulphide zone. These results demonstrate the continuity of mineralization as the drilling program continues to step-out and target areas both N-S and E-W of known mineralization. (Press Release)

Editor's Comment: Cerro Quema and La Pava are gold deposits being developed in the Azuero peninsula. For more information on this area see this report produced by Bellhaven. Mining in Panama is taking an uptick. Inmet is trying to buy out Petaquilla for example. These deposits in Cerro Quema and La Pava could total as much as 450,000 ounces of gold. Today gold is being sold at $1,775 per ounce, meaning the gold in the ground is worth more than $798 million dollars. Panama recently went through the process of enforcing their political will to allow for the rapid expansion of mining in the country. So if you see a guy walking around Panama City in a suit with a woodie, he's probably a Canadian mining executive.

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