Pershing Gold Corporation (PGLC) is pursuing a path to put the Relief Canyon Mine back into production.
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, pending annual funding.
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
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.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.
Relief Canyon Mine and Processing Facility
The Relief Canyon Mine property includes
- three open-pit mines and a
- state-of-the-art, fully permitted and constructed heap leach processing facility.
The plant has the capacity to treat eight million tons per year. The permitted leach pad can hold 21 million tons and can be readily expanded. The facility is ideally situated to process ore from future discoveries of satellite deposits.
These assets present Pershing Gold with a unique opportunity to capitalize upon the synergies of an existing processing facility adjacent to a mine that has additional resources to achieve a fast-track path to production at the Relief Canyon Mine.
- Identified NI 43-101 gold resource
- Measured & Indicated: 739,000 oz of gold
Inferred: 70,000 oz of gold
Past producing mine located in Pershing County, Nevada
- Historic production of over 110,000 oz
- 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
- Under-explored areas to the North and South of existing open-pits are being explored by Pershing Gold Corporation
CSTOCKHOLDERS' EQUITY :
Common stock ($0.0001 Par Value; 200,000,000 Shares Authorized; 21,723,049 and 19,745,170 shares issued and outstanding as of December 31, 2015 and 2014ommon
Preferred stock, $0.0001 par value; 50,000,000 authorized
Convertible Series A Preferred stock ($0.0001 Par Value; 2,250,000 Shares Authorized; none issued and outstanding as of December 31, 2015 and 2014) -
- Convertible Series B Preferred stock ($0.0001 Par Value; 8,000,000 Shares Authorized; none issued and outstanding as of December 31, 2015 and 2014) -
- Convertible Series C Preferred stock ($0.0001 Par Value; 3,284,396 Shares Authorized; none issued and outstanding as of December 31, 2015 and 2014) -
- Convertible Series D Preferred stock ($0.0001 Par Value; 7,500,000 Shares Authorized; none issued and outstanding as of December 31, 2015 and 2014) -
- Convertible Series E Preferred stock ($0.0001 Par Value; 15,151 Shares Authorized; 9,375 and 9,425 shares issued and outstanding as of December 31, 2015 and 2014)
Management Team Leader:
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: [email protected]
Email Mindy Jo: [email protected]
Telephone: 877-705-9357 USA MOUNTAIN TIME ZONE; GMT -8 HRS