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Pershimex Intersects 23.3 g/t of Gold Over 1 Meter Under the Céré Showing, and 18.4 g/t of Gold Over 1.2 Meters Under Vein No. 3 on the Villebon Property

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Pershimex Resources Corporation Inc.
Pershimex Resources Corporation Inc.

Figure 1

Surface Plan
Surface Plan

Figure 2

Céré Drill Section
Céré Drill Section

Figure 3

Longitudinal View
Longitudinal View

VAL-D’OR, Québec, March 01, 2022 (GLOBE NEWSWIRE) -- Pershimex Resource Corporation ("Pershimex" or the "Company") (TSX VENTURE : PRO) is pleased to announce the results of its last drilling campaign carried out in the fall of 2021 on the Villebon property. Hole VB-21-08 intersected several mineralized intersections, including one grading 23.3 g/t gold over 1 meter below the Céré showing, while hole VB-21-07 intersected 18.4 g/t gold over 1.2 meters under the vein No. 3. These new drilling campaign are very promising and reactivate the Company's interest in this property, which had remained without work since 2014.

Approximately 1000 meters were drilled during this campaign for a total of 8 holes (VB-21-01 to 08). These were implanted to intersect the shear corridor between the Céré showing and vein No. 3, approximately 700 meters apart (see Figure 1). Two holes (VB-21-01 and VB-21-08) were drilled directly under the Céré showing to confirm at depth the continuity of mineralization. Recall that in 2014, the VB-14-07 hole had intersected, less than 25 meters from the surface, 17 g/t gold over 7.8 meters. Hole VB-21-01 intersected the mineralized zone at approximately 75 meters vertically (see Figure 2) and returned 3.9 g/t gold over 2 meters. Hole VB-21-08 intersected several mineralized intersections, including one grading 23.3 g/t gold over 1 meter at approximately 150 meters vertically.

Up to date, four drill holes were implemented under the Céré showing. All four confirmed the presence and continuity at depth of mineralization. The variability of the gold grade observed from one hole to another confirms the presence of a strong nugget effect. In this sense, several grains of free and coarse gold were observed in all the drill cores from the Céré showing. Drilling between the Céré showing and Vein No. 3 (VB-21-02 to VB-21-06) did not return any significant gold values. Hole VB-21-07 was located directly under vein No. 3 (Figure 3) to confirm the historical presence of gold mineralization. Indeed, the historic GR-5 hole had intercepted vein No. 3 at the beginning of the hole and this at shallow depth and returned 1.8 g/t gold over 2.8 meters. This same hole intercepted towards the end, the area containing vein No. 1, and returned 5.4 g/t over 1.1 meters. Hole VB-21-07 intercepted vein No. 3 at about 60 meters vertical depth and returned 18.4 g/t gold over 1.2 meters. The mineralized zone containing vein No. 1 was also intercepted by drilling but no significant gold results were obtained.

Table 1 shows the best gold intersections in hole VB-21-01, VB-21-07 and VB-21-08. Intersections do not represent the actual thickness of mineralization.

Table 1 : Mineralized intersections



#DDH

Showing

from
(m)

to
(m)

Mineralized
intersection
(g/t Au)

VB-21-01

Céré

75.9

77.9

3.9 g/t Au @ 2.0 m

VB-21-07

Vein 3

70

71,2

18.4 g/t Au @ 1.2 m

VB-21-08

Céré

135

137

4.5 g/t Au @ 2.0 m

VB-21-08

Céré

148

149

23.3 g/t Au @ 1.0 m

VB-21-08

Céré

187

188.6

6.0 g/t Au @ 1.6 m


Robert Gagnon, President and Chief Executive Officer of the Company, said: "This drilling campaign has enabled the Company to reactivate the Villebon property, while adding significant gold results. In the Céré showing area, we confirmed the deep continuity of the gold system with four positive holes (including those carried out in 2014). In Vein No. 3, we were able to confirm the historical results and again validate the variability in gold grades caused by the nugget effect and the presence of coarse free gold."

Quality Control and Disclosure Protocol

Following an analytical quality assurance and control program, blank samples and certified reference materials were added to the NQ-size half-core samples before being shipped and analyzed by the Bourlamaque Analytical Laboratory in Val-d'Or, Quebec using the pyro-analysis method.

Qualified Person

This press release was prepared by Robert Gagnon, professional geologist, and President of Pershimex, a qualified person under NI 43-101.

For more information, please contact:

Robert Gagnon, President

Jacques Brunelle, VP Corp. Dev.

Tél : (819) 825-2303

Tél : (819) 856-1387


Warning

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the information contained in this press release.

Facts stated in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that such statements are not a guarantee of success and that future developments and results may differ from those projected in such forward-looking statements.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/db27ae1a-3f05-4777-972d-cfdafd7c0a51
https://www.globenewswire.com/NewsRoom/AttachmentNg/430a8ef6-eaa6-416e-9dc2-5dd6ff891d07
https://www.globenewswire.com/NewsRoom/AttachmentNg/44e680b9-3b30-4bfd-8c89-81c849a373f6


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