Pershing Gold is pleased to announce the start-up of its 2014 drilling program at the Relief Canyon Mine property in Pershing County, NV.
This program will be focused on finding mineable ounces to add to Pershing Gold’s recently expanded 43-101 resource estimate.
The program is designed to step out from known resource blocks as defined by the recent work of Mine Development Associates described in our March 31, 2014 press release. The program will test previously undrilled zones that overlie the current resource blocks, with the objective of expanding those blocks towards the surface to add near-surface ounces north of the existing pit. Additionally, the program will include in-fill drilling that is designed to expand the resource estimate to include additional high-grade zones of gold mineralization.
The drilling program will focus on two areas. The first drilling area will be along the high-wall of the current pit with the goal of expanding the resource to the east. This high-wall drilling will utilize a specialized rig designed to drill holes at very shallow dip angles, allowing Pershing Gold the ability to test areas beneath and east of the high-wall without constructing new roads.
The second area of drilling will include step-out holes testing for high-grade mineralization within and to the north of the existing pit. This drilling will utilize a standard surface diamond core drill rig. The program will also include in-fill drill holes to expand high-grade zones within the Lower and Jasperoid zones.
The Company expects to spend approximately $1.5 million on the 2014 drilling program, targeting 20,000-30,000 feet of core drilling with up to 40 holes. Pershing Gold has selected West-Core Drilling, LLC of Elko Nevada for the surface diamond core drilling and expects to award a contract for the specialized drilling in the near future.
"The 2014 drilling program is a key step for Pershing Gold as we execute our 2014 mine development and resource expansion programs," stated Stephen Alfers. "It is one prong of our two-prong approach to continue to expand the Relief Canyon deposit while simultaneously completing the mine planning, metallurgy, engineering, geotechnical, environmental and permitting work necessary to advance our plans to reopen the Relief Canyon Mine in the second half of 2015."