Pershing Gold Reports By Far Its Highest Grade Results, A Game Changer

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The following interview of Pershing Gold's (PGLC) CEO Steve Alfers was conducted by phone and email from February 2-4. I, Peter Epstein have no prior or existing relationship with Pershing Gold.

Q. Please expand upon the significance of Pershing's February 4th press release regarding new high-grade drill results.

A. We reported an intercept over 39.0 ft./11.9 meters of 10.12 grams per tonne (gpt) gold (Au)/0.295 ounces per ton (opt) Au including an interval over 4.7 feet/1.4 meters of 76.8 gpt Au/2.24 opt Au, by far our highest grade gold intercept at the Relief Canyon project. In the context of our entire 2014 drilling program this core hold RC15-264 is an exclamation point on our 135-hole drill program in the North Target Area. Throughout the 2014 drilling program we have consistently reported a pattern of thick intercepts with gold grades two to five times higher than the average grade of the existing gold resource at Relief Canyon.  RC15-264 includes an intercept at a grade an order of magnitude higher than the average grade of the resource. As such, it is a game changer.  These results demonstrate once again that our deposit appears to be growing in size and in grade. These results will be included in our upcoming resource report. They should significantly enhance the economics of the project, potentially making Pershing Gold the premier emerging gold producer in Nevada. 

Q. There has been a lot of news flow lately, please give readers a description of Pershing Gold.

A. Simply stated, Pershing Gold Corporation is an emerging Nevada gold producer uniquely positioned to create shareholder value by the reopening of the Relief Canyon Mine, as soon as October of this year. Pershing Gold’s strategy to create shareholder value has four elements. First, confirm, expand and upgrade the gold resource. Second, re-commission the existing heap-leach processing facility at Relief Canyon to fast track the company to production. Third, explore strategically located 25,000-acre contiguous land package around Relief Canyon. Fourth, create value through strategic acquisitions. We expect to be the next gold mine to reach production in mining friendly Nevada but we don’t expect to stop there. Pershing Gold is a growth story in the gold mining business.

Q. If Pershing Gold commences production in the fourth quarter, how long might it take to ramp up to nameplate capacity?

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Disclosure: I have no prior or existing relationship with any company mentioned in this article. I own shares of Pershing Gold that I acquired myself. 

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Comments

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Peter Epstein 4 years ago Author's comment

I don't speak with Alfers that much, but I will keep those and other questions in mind for sure.

Peter Epstein 4 years ago Author's comment

I have no prior or existing relationship with Pershing Gold seems fairly clear to me. I own shares of PGLC which I acquired myself. Myself or a firm that I work with has never received shares or compensation of any sort. I don't work for anyone owning PGLC shares. I don't have further info regarding testing for silver.

Michele Grant 4 years ago Member's comment

Very glad to hear that, as I enjoyed this interview very much. Hope to see more like it.

Steve Levy 4 years ago Member's comment

Thank you! Happy that you are a fellow shareholder. IF you could, the next time you speak with Mr. Alfers, please ask for more information on the extent of density of silver and any other non-gold precious metals and any plan for recovery of the silver, etc.

Steve Levy 4 years ago Member's comment

Peter, Some clarification would be appreciated. You state that "have no prior or existing relationship with Pershing Gold" yet you have interviewed Pershing staff and written about them many times, posted as PotNGold on IHub, and so forth. That gives rise to the following questions: 1. Do you own any shares in PGLC? 2. Have you, or a firm for which you work, ever received compensation for writing these articles from Pershing or any of it's investors. 3. Do you work for anyone owning Pershing shares? 4. Do you have any further information from Pershing regarding testing for and/or reserves of silver, beyond that small tidbit above? I had been told by Pershing staff that they were not testing for silver, at least at that time. Can't put my hands on the email at the moment.