Pershing Gold Initiates Pre-Feasibility Level Studies at Relief Canyon Mine, Nevada
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Pershing Gold Corporation has provided an update on the progress to production at its Relief Canyon Mine in Pershing County, Nevada.
“This second quarter is a pivotal time for Pershing Gold. For more than a year now, we have been looking forward to an updated resource, a PEA and a decision on the restart of the Relief Canyon Mine. The completion of the pit slope study, the resource update, the PEA and the receipt of the permit modification should allow us to maximize the efficiency of the mine plan and provide us with key information as we rapidly continue towards production at Relief Canyon,” said Stephen D. Alfers, Pershing Gold president, CEO, and executive chairman.
“The Relief Canyon deposit remains open. The geological team is preparing their recommendations for the 2016 program, designed to expand the in-pit resource at Relief Canyon,” added Alfers.
Pershing Gold is currently in the final stages of approving its 2016 drilling program. To that end, the company is completing geophysics to define additional targets. Pershing Gold has recently contracted Zonge International Inc. of Reno, Nevada to complete gravity as well as induced polarization and resistivity surveys at the project.
Pershing Gold has retained Golder Associates of Reno, Nevada to initiate pre-feasibility level geotechnical studies for the Relief Canyon Mine. This work will set the stage for a pre-feasibility study of the Relief Canyon project, expected in the fourth quarter of this year.
Work on an updated preliminary economic assessment (PEA) is currently underway. The resource update and PEA are being produced by Mine Development Associates of Reno, Nevada. The PEA will include extensive engineering and metallurgical work and will provide third party updated economics on the Relief Canyon Mine. The work is proceeding rapidly and is on schedule for release later this quarter.
About Pershing Gold Corporation
Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three open-pit mines, expanding adjacent open-pit-able gold deposits, and a state-of-the-art, fully permitted and constructed heap-leach processing facility. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing plan of operations.
Pershing Gold’s landholdings cover approximately 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Pershing Gold with the opportunity to expand the Relief Canyon Mine deposit and to explore and make new discoveries on nearby lands.
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