(Formerly Sagebrush Gold, Ltd.)
Pershing Gold Corporation (PGLC) is pursuing a path to put the Relief Canyon Mine back into production during calendar year 2014.
They are focused on an under-explored part of Nevada - Pershing County and nearby Lander County.
All projects have had extensive geological analysis done on them,
and gold targets are identified and ready to drill.
Our first major drill program was completed in calendar year 2012, and results of same are reported in press release dated 1.24.2013.
In order to achieve our objectives, we are currently:
Drilling at Relief Canyon to confirm, expand, and upgrade the gold resource in order to resume mining, Projects Relief Canyon Mine Project
Advancing our other properties, Red Rock and North Battle Mountain,
which are located in adjacent Lander County in the heart of northern Nevada's gold country.
Our Chief Geologist is highly experienced in Nevada gold exploration and mining, having worked in senior roles with
Cameco Gold Corp, Cyprus Metals Exploration, Hecla Mining, Gold Fields Mining, and Callahan Mining Company.
He has been the lead geologist on several significant gold discoveries during his exploration activities,
and is directly and indirectly responsible for the discovery of over ten million ounces of gold in Nevada.
Our team has participated in exploration and mining activities with projects in gold, silver, copper, molybdenum, nickel, and tungsten to name a few.
The Relief Canyon property is located at the southern end of the Humboldt Range in northwestern Nevada, about 16 miles in a direct
line east-northeast of Lovelock in Pershing County and about 110 miles northeast of Reno, Nevada. The property consists of both millsite claims and lode mining claims. Five heap leach pads, two solution ponds and a cement block constructed Adsorption- Desorption- Recovery (ADR) solution processing circuit are located on the mill site claims. The ADR type process plant consists of four carbon columns, acid wash system, stripping vessel, electrolytic cells, a furnace and a retort for the production of gold doré. The building was originally installed by Pegasus, updated in 1995 and has been completely updated and new equipment installed in 2007-2008.
On 10/5/11 Pershing Gold announced that it has commenced Phase One drilling at the Relief Canyon Gold Project. The first phase of core drilling, consisting of 11 HQ diameter core holes ranging from 500 feet to 1500 ft, commenced on the Deep North Zone in late September and is designed to further test this area. The Company plans to conduct up to 18,000 feet of core drilling to test the North Deep target, located approximately 1⁄2 mile to the north of the existing resource at the Relief Canyon Mine. The objective of the drill program is to further test mineralized zones found by previous operators. Mineralization has been identified in the North Target Area using Reverse Circulation and Core drill holes but insufficient information was collected from the drilling to determine the continuity or stratigraphic alignment of the mineralized material. Following phase one, the Company plans to conduct a 10,000 ft drill program in and adjacent to the current in pit resource to expand and upgrade existing resources.
Current Resource JUNE 2010
A NI43-101 compliant resource estimate was completed by Mine Development Associates (MDA) in June 2010. For more information, please view the full report (available on the website & below).
The following table reflects the NI43-101 gold resource, as identified by Firstgold, the project's previous operator.
Pershing Gold and its consultants believe that project geology and historic evidence point to significant potential to grow the resource. Pershing Gold believes that Relief Canyon provides the Company with dual opportunities consisting of excellent exploration targets in under-explored areas of the property and continuation of the prior work. Subject to required federal and state permitting and bonding requirements, the Company plans to commence an aggressive exploration program with the intention of growing the resource at Relief Canyon.
Red Rock Property
Red Rock property is located at the intersections of three major gold trends:
- The Battle Mountain Eureka Gold Trend: a prolific gold belt containing at least 50 million known ounces of gold.
- The Rabbit Creek Gold Trend: a gold belt containing at least 40 million known ounces of gold.
- The Caetano Caldera Trend: a major crustal break that helped localize approximately 30+ million known ounces of gold.
Pershing Gold is exploring two potential gold targets at Red Rock
- A shallow open-pit gold deposit.
- An underground Carlin-type gold deposit.
Pershing Gold to Commence Drilling 8/2/11
Pershing Gold has contracted RedCor Drilling and is permitted to drill up to nine angled diamond core holes for a total estimated footage of 16,000 feet and ALS Minerals, Reno, Nevada, will perform all drill core analyses.
Drilling will test geologic, rock and soil gold geochemical anomalies and gravity/CSAMT geophysical targets within the Red Rock property. Surface gold, up to 0.38 ounces per ton (13.03 g/T), and shallow drilled gold have already been discovered on an adjoining property from Red Rock. Red Rock is located at the intersections of three major gold trends, the Battle Mountain Eureka Gold Trend, the Rabbit Creek Gold Trend and the Caetano Caldera Trend. It is believed that there is a combined 60+ million ounces of gold contained within these trends. Read More
Update on Red Rock Drilling 10/4/11
Pershing Gold has completed nine thousand, six hundred and twenty-six feet (9626 feet) of drilling in two diamond core and fourteen reverse circulation drill holes at its Red Rock gold property located in the Mt. Springs Mining District, Lander County, Nevada. At present, core drilling has been terminated, but reverse circulation drilling is continuing. The Company announced and commenced drilling at Red Rock on .
Assay results are being finalized by ALS Minerals. To date assay information has been received for RRC: 11-1Core. Assay data indicates a 70 ft (21m) zone containing gold values that average 0.05 g/t (high of 0.104 g/t) with associated elevated trace elements. Alteration in the interval consisted of abundant sooty carbon and silica-flooding. Management is extremely optimistic that the reported gold interval may represent upward or lateral leakage. Numerous other reverse circulation drill holes contained intervals with abundant quartz veining and associated pyrite. Assays are pending and will be reported as they are received. There can be no assurance that any assay results will meet the company's expectations. Read More
North Battle Mountain Property
The North Battle Mountain property is located along the Northern Nevada Rift, a gold belt containing at least 8 million known ounces of gold.
There are 36 contiguous unpatented load claims on 291 hectacres or 1 square mile.
The North Battle Mountain property is underlain by an Upper Devonian-Mississippian arkosic assemblage consisting of calcareous sandstone, siltstone, shale and chert. This sequence has been intruded by Tertiary ("quartz eye") rhyolite dikes and sills. Eocene to Pliocene felsic to mafic volcanic rocks and minor sediments were deposited over these older units. High-angle faults striking E-W, N30-60°E and N20-50°W are the key fault sets. Elevated metal values, barite in-fillings, brecciation, fracturing, intrusive dikes, and abundant iron oxide formation are associated with these structures.
Pershing Gold is exploring two potential gold targets at North Battle Mountain
- A shallow open-pit gold deposit.
- An underground Carlin-type gold.
Similar to Red Rock, SAGE has geologic maps, abundant rock and soil geochemistry and detailed gravity and ground magnetic data for North Battle Mountain. Based on this data, SAGE has identified 2 large gold and associated trace element anomalies which have a presence of high zinc, antimony and arsenic - these elements are often above or distal to Carlin-type gold deposits.
Authorized Shares (AS) = 500,000,000 shares
Outstanding Shares (OS) = 273,292,023 [as of 10.24.2013] (O/S shares includes 88,595,215 Shares INCLUDING CRGC conversion to PGLC completed 3.1.2013 )
Restricted Shares = 50,000,000 Authorized
FULLY DILUTED: roughly 100,000,000 higher, including:
Warrants to Purchase Shares of Common Stk = 16,255,779 [as of 2.5.2013]
Options to purchase 35,298,000 shares of common stock [as of 2.5.2013]
and additional warrants and options as of closed Units Offering Sept 2013 primarily purchased by director Barry Honig
Stephen Alfers - Chairman and Chief Executive Officer
Mr. Alfers served as the President and Chief of U.S. Operations of Franco-Nevada Corporation from 2010 to 2011 and its Vice President (Legal) from 2007 to 2009. Mr. Alfers served as President of Franco-Nevada US Corporation, the wholly owned subsidiary of Franco-Nevada Corporation, from 2010 to 2011.
Mr. Alfers served as the President and Chief Executive Officer of NewWest Gold Corporation, a publicly-traded Canadian corporation listed on the Toronto Stock Exchange, from 2006 to 2007. Mr. Alfers also served on the Board of Directors of NewWest Gold Corporation from 2005 to 2007. Mr. Alfers served as President and Chief Executive Officer of the NewWest Resources Group from 2001 to 2005 and President and Chief Executive Officer of NewWest Gold Corporation, a privately held Delaware Corporation, from 2005 to 2006.
Mr. Alfers was the founder and managing partner of Alfers & Carver LLC from 1995 to 2001, a boutique natural resources law firm.
Mr. Alfers received a Juris Doctor from the University of Virginia, an M.A. in Monetary Policy and Public Finance from the University of Denver, and a B.A. in Economics from the University of Denver.
Mr. Alfers was chosen to be a director of the Company based on his extensive mining resource and business experience. Mr. Alfers has also been the President of Alfers Mining Consulting since 2007.
Pershing Gold, Corporation
1658 Cole BLVD BLDG. 6 STE 210
Lakewood, Colorado 80401-3304
Telephone: (877) 705-9357
also: (720) 974-7248
Facsimile: (303) 839-5907
Email Mindy Jo: firstname.lastname@example.org
Telephone: 877-705-9357 USA MOUNTAIN TIME ZONE; GMT -8 HRS