Pershing Gold Corporation (NASDAQ: PGLC), a gold and precious metals exploration, development and mining company which operates primarily in Nevada, announced an update regarding their 2015 drilling program. Initial results from the program so far include: RC15-314 with an intercept of 51.2 feet (15.6 meters) of 7.032 grams per tonne ("gpt"), 0.205 ounces per ton ("oz/ton") gold ("Au") in the Jasperoid Zone of the Relief Canyon deposit. The intercept begins at 10.5 feet from the surface and includes a 2.8 foot (0.85 meters) interval of 108.72 gpt (3.175 oz/ton) Au. Other notable intercepts include RC15-300 with 48.2 feet (14.7 meters) of 7.490 gpt, 0.219 oz/ton in the North Target Area and RC15-292 with 63.7 feet (19.4 meters) of 2.123 gpt, 0.062 oz/ton Au in the Main Zone drilled in the Southwest Target Area.
Four core-drill rigs are operational at the Relief Canyon – One of the core-drill rigs is working in the North Target Area, a second drill rig is operating in the Jasperoid Target Area. The third and fourth core rigs are located in the Southwest Target Area. As of today, about 25% of the total 2015 drilling program is completed; this translates to about 24,500 feet (7,500 meters) and 43 holes.
The 2015 drilling program has three principal objectives, including an expansion of the gold resources in the North Target Area and Southwest Target Area, as well as showing evidence of continuity and building a resource by drilling in the Jasperoid Target Area. In addition Pershing Gold plans to drill several deep core holes with intent to test for feeder zones during the current drilling program.
Pershing Gold President, CEO, and Executive Chairman, Stephen D. Alfers, explained in a statement, "The recent results from the 2015 drilling program show significant intercepts from all three of the target areas we are focusing on this season. Results such as RC15-314 with intercepts near the surface in the Jasperoid Target Area are very promising, especially considering that it's a new target with very limited drilling completed to date… It is very exciting to see these higher grades over intercepts with mineable widths up to 64 feet. This should allow us to continue to upgrade the resource when we publish another updated resource at the end of this drilling program."
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