Metals and Mining
Company Overview of Pershing Gold Corporation
Pershing Gold Corporation engages in the exploration, development, and mining of gold and precious metal properties primarily in Nevada. It focuses on the exploration of Relief Canyon properties covering an area of approximately 25,000 acres located in Pershing County in northwestern Nevada. The Relief Canyon properties include approximately 948 owned unpatented mining claims, 120 owned millsite claims, 172 leased unpatented mining claims, and 2,235 acres of leased and 2,770 acres of subleased private lands. The company was formerly known as Sagebrush Gold Ltd. and changed its name to Pershing Gold Corporation in February 2012. Pershing Gold Corporation is based in Lakewood, Colorado.
1658 Cole Boulevard
Lakewood, CO 80401
Key Executives for Pershing Gold Corporation
Executive Chairman, Chief Executive Officer and President
Total Annual Compensation: $700.0K
Principal Financial Officer, Principal Accounting Officer, Vice President of Finance and Controller
Total Annual Compensation: $235.0K
Chief Operating Officer
Total Annual Compensation: $114.3K
Senior Vice President
Total Annual Compensation: $325.0K
Compensation as of Fiscal Year 2014.
Pershing Gold Corporation Key Developments
Pershing Gold Corporation Provides Update on its 2015 Drilling Program
Aug 10 15
Pershing Gold Corporation announced an update on its 2015 drilling program. Initial results from this program 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 have been operating at Relief Canyon for the past two weeks. One core-drill rig is working in the North Target Area. A second drill rig has commenced drilling in the Jasperoid Target Area. The third and fourth core rigs are drilling in the Southwest Target Area. Approximately 25% of the total 2015 drilling program has been completed to date, which includes approximately 24,500 feet (7,500 meters) and 43 holes. Assay results have been received for the first 26 holes. Eleven core holes have been completed in the North Target area. The most significant is the intercept in RC15-300 with 48.2 feet (14.7 meters) of 7.5 gpt, 0.219 oz/ton Au. This intercept is an offset to the high-grade zone encountered in RC13-133 reported 42.7 feet (13 meters) of 6.664 gpt, 0.194 oz/ton Au in the Lower Zone. Up to 25 core-drill holes and approximately 16,000 feet (5,000 meters) are planned for the North Target Area this year. This area hosts the high-grades in the Lower and Jasperoid Zones encountered in the 2014 drilling program. The 2015 drilling program will include offset and step-out core drilling from several of those higher-grade results.
Pershing Gold Corporation Announces NI 43-101 Compliant Resource Estimate for Relief Canyon Project in Pershing County, Nevada
Jul 6 15
Pershing Gold Corporation announced an upgraded NI 43-101 compliant resource estimate for its Relief Canyon Project in Pershing County, Nevada. The upgraded resource shows a Measured and Indicated Resource of 739,000 ounces of gold and an Inferred Resource of 70,000 ounces of gold. This new resource shows a 34% increase in the Measured and Indicated total compared to the 552,000 ounces of Measured and Indicated Resource in March 2014 estimate. Pershing Gold has identified an Inferred Resource of 24,000 ounces of gold in an historic stockpile located just southwest of the existing pits. The gold ounces remaining in the stockpile, which are included in the tabulation of Inferred-Oxide Resource shown in Table 1, are the result of much higher cutoff grades used by past operators. Gold-bearing material from this stockpile is planned to be processed in the first year of production at Relief Canyon. The Company is currently in the process of executing its 2015 drilling program, which is planned to include 100 core holes and approximately 75,000 feet (nearly 23,000 meters) of drilling. Pershing Gold currently has two core rigs drilling on site and expects to add two additional drill rigs later this week. The third core-drill rig will be operating in the Jasperoid Target Area. The fourth drill rig will be working on the Buffalo Pediment, an exploration target located approximately one and a half miles north of the existing pits. The Relief Canyon deposit remains open in all directions. The Company plans to incorporate the results of this aggressive 2015 drilling program into a further updated NI 43-101 resource estimate upon completing of the 2015 program.
Pershing Gold Corporation Appoints Alan Branham and Ed Karr to Board of Directors
Jun 11 15
Pershing Gold Corporation announced that it has appointed Alan Branham and Ed Karr to its board of directors. Currently, Mr. Branham runs American Innovative Minerals, a private exploration group developing mines in Montana and Nevada. He is the Chief Executive Officer and founder Strategic Asset Management SA, Strategic Swiss Advisors Sarl and Rampartners SA.
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