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Pershing Gold Begins Construction

Wed May 09, 2018 - West Edition #10
CEG


Initial ground clearing at Relief Canyon.
(Pershing Gold Corporation photo)
Initial ground clearing at Relief Canyon. (Pershing Gold Corporation photo)
Initial ground clearing at Relief Canyon.
(Pershing Gold Corporation photo)
Existing infrastructure at Relief Canyon.
(Pershing Gold Corporation photo)

Pershing Gold Corporation, an emerging Nevada gold producer, announces the start of preliminary construction activities at Relief Canyon.

On Feb. 13, 2018, Ames Construction began initial land clearing in preparation for potential construction at Relief Canyon, including future heap leach pads, haul roads and waste rock storage facilities. If the company is able to achieve further financing for the project, it will then be able to move directly into construction of the heap leach pads, overland conveyors, crushing facilities, contractor yards and process plant optimization. The current plan anticipates contract mining of the permitted Phase 1 open pit, and contract-mining personnel would mobilize during this period.

“The beginning of preliminary construction activities at Relief Canyon is an exciting and vital next step for the company as we continue to advance Relief Canyon toward commercial production,” said Stephen D. Alfers, Pershing Gold's chairman, president and CEO. “This initial work includes clearing approximately 165 acres of land,” explained Alfers. “Because of the existing infrastructure at Relief Canyon and the low initial estimated CAPEX and working capital of approximately $35 million required to restart the mine, we continue to anticipate a six to nine-month construction period, following the completion of project financing,” stated Alfers.

For more information, visit pershinggold.com.