Highest Grade Gold To Date At Relief Canyon

 

LAKEWOOD, CO - Pershing Gold Corporation reported that core drilling at the Relief Canyon Mine in Pershing County, Nevada continues to discover new very high-grade gold intercepts. Drill hole RC15-279 encountered 0.5 meters (1.4 feet) of 123.900 grams per tonne (gpt) gold (Au)/3.618 ounces per ton (opt) Au that is included in a 11.3 meter (37.0 foot) intercept of 5.069 gpt Au/0.148 opt Au.

Another highly mineralized hole, RC15-283, contains a 10.7 meter (35.1 foot) intercept of 9.886 gpt Au/0.289 opt Au that includes 3.9 meters (12.9 feet) of 25.367 gpt Au /0.741 opt Au and 1.0 meter (3.3 feet) of 84.319 gpt Au/2.462 opt Au.

"The results from the 14 holes announced today complete our 2014 early 2015 Relief Canyon drilling program comprised of 134 core holes. With these results Pershing Gold confirms the significance of multi-ounce gold values in the North Target Area. The perception of Relief Canyon is changing from that of a lower-grade gold deposit to one with multiple stacked zones of mineralization with a core of very high-grade gold mineralization," said Stephen D. Alfers, Chairman and CEO. "We are planning future drilling in the vicinity of the intercepts to better define the orientations and ultimate extent of these important structural zones."

All of the very high-grade drill hole intercepts occur in the Lower and Jasperoid Zones, which lie beneath the Main Zone portion of the deposit that was mined in the 1980s. Pershing Gold first recognized the significance of the Lower Zone and the additional presence of the Jasperoid Zones in its 2013 drilling program. Many of the holes drilled during the 2014 early 2015 drilling program have helped to further delineate the Lower and Jasperoid Zones, which remain open to the east, west, and south in the North Target Area. The January 2015 holes containing multi-ounce gold intercepts appear to represent another breakthrough discovery, which suggests that future core drilling has significant potential to expand and upgrade the Relief Canyon deposit.

The new intercepts reported appear to be associated with structural features such as folds and faults that may play a significant role in focusing mineralization and producing localized zones of very high-grade gold mineralization. The distribution of the holes that have been drilled to date suggests there may be multiple structures that host multi-ounce gold mineralization.