ROUYN-NORANDA, QUEBEC- January 24, 2007
Pershimco Resources Inc.(TSX VENTURE: PRO)is pleased to announce that a 5,000 meters diamond drill campaign has started on its Courville Gold Property. The objective of the campaign is to extend the known gold mineralization along the full length of the 3 kilometer long Thibodeau intrusive complex or TIC.
The preliminary geological review (as reported in a January 18, 2007 news release) has determined that the Courville Gold Property mineralization occurs mainly as a series of sub-horizontal quartz stockwork domains- five(5) for now - ranging from 2.5 to 7.5 meters each in width, within a 125 meter long by 75 meter wide by 75 meter deep segment of the TIC. Assays for the tested TIC averaged 1.09 g/t gold. Four(4) separate centers of gold concentrations are outlined within the quartz stockwork domains grading between 2 and 5 g/t gold. Preliminary grade modeling indicated that 48% of the rock volume from the 125 meter long by 75 meter wide by 75 meter deep segment of the TIC consists of grades under 1 g/t gold; 27% consists of grades between 1 and 2 g/t gold; 15% consists of grades between 2 and 2.5 g/t gold; and 10% consists of grade over 2.5 g/t gold.(see graphic above)
The company has hired two drilling contractors that will drill simultaneously on the Courville gold property, and plans to add more drilling based on the results as they become available.
Mr. Alex Horvath P.eng, of A.S. Horvath Engineering Services has already started work to produce a National Instrument 43-101 compliant resource estimate for the Courville Gold Property, scheduled for completion by the end of the second quarter of 2007 based on the current Courville drill data base.
Mr. Jean Lafleur, P. Geo., will be the Company's Qualified Person within the meaning of National Instrument 43-101 overseeing the Courville Gold Property work.
Documents referred to in this press release can be found on Sedar at www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of the contents herein.
FORWARD-LOOKING INFORMATION -- This press release contains forward-looking statements
reflecting Pershimco objectives, estimates, expectations and the impact of acquisitions on
Pershimco’s financial performance. These statements are identified by the use of verbs such as
"believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional
tenses. By their very nature, these types of statements involve risks and uncertainty.
Consequently, reality may differ materially from Pershimco’s projections or expectations.
