Pershing Gold Corporation, the emerging Nevada gold producer advancing the Relief Canyon Mine, announced that it has initiated a drilling program in the recently consolidated Blackjack Project Area.
"With the recent consolidation of the district, for the first time Pershing Gold is free to fully explore the highly prospective Blackjack Project Area," stated Stephen Alfers, Chairman, CEO, and President of Pershing Gold. "We are hopeful that the drilling at Blackjack will result in the discovery of satellite deposits on our 25,000 acre land position, which could extend the life of the entire project."
The Blackjack Project area is located approximately six miles south of the Company's Relief Canyon Project. It is comprised of seven historic mercury and antimony mines. Blackjack Hill is included in this highly prospective area and is a part of the land transaction recently announced on April 4, 2017.
Blackjack Hill comprises a highly prospective gold target in Section 15, T26N R34E. An aggressive detailed geological mapping and lithogeochemical sampling program has been completed over the target area. A total of six holes (four core and two reverse circulation) aggregating 3,200 feet are planned to be drilled this month. Additional detailed geological mapping as well as rock and soil sampling is in progress over the remainder of the lands covered by the recently acquired Newmont sublease. Pershing Gold is excited about the potential to develop additional high-quality, near-term drilling targets in close proximity to the Relief Canyon Mine and processing facilities.
Geology of Blackjack Hill is comprised of a stacked sequence of southwest verging thrust slices. Favorable host rocks to gold mineralization are a dolomitic conglomerate and a calcareous sandstone unit. Strongly anomalous surface results from rock samples have generated gold assays as high as 12.89 grams of gold.
Gold is associated with northwest and northeast trending steep faults, their zones of intersection, and where the steep faults cut the dolomitic conglomerate/sandstone contact, and/or thrust faults. The favorable dolomitic conglomerate/sandstone package is repeated multiple times along thrust ramps. The initial four core holes will test the surface target at Blackjack Hill.
A major regional north-south Fault, known as "The General's Fault" passes along the east margin of Blackjack Hill. Zones of intersection between the gold-rich NW-trending steep faults on Blackjack Hill and the N-trending General's Fault will be tested by an additional two reverse circulation holes.