Pershimco Intercepts 36m @ 1.54 g/t Gold & 18m @ 1.47% Copper
Friday, September 14 2012 @ 11:26 AM EDT
Contributed by: Don Winner
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.