Panama: Existence of Gold in Cerro Quema Confirmed

Pershimco Resources, which owns the Cerro Quema gold mine, announced it intersected 128 meters of 1.41 grams of gold per ton.

Thursday, November 18, 2010

The drilling confirmed the presence of gold, the company said in a news release, adding that copper was also found at a lesser gradient than gold.

The Cerro Quema mine project is located in the Azuero Peninsula in Los Santos province, 45 kilometers from the city of Chitre.

More on this topic

Pershimco Mining Company Announces Results of Study

September 2011

Validation tests in the Cerro Quema gold mine in Panama, indicate the existence of new areas for drilling.

The Canadian company specializing in exploration and extraction of precious metals have released the latest results from a feasibility study at Cerro Quema mine in Panama.

Positive Results from Gold Prospecting in Cerro Quema

June 2011

The Canadian mining company Pershimco Resources has announced positive results in the search for evidence of productive veins in order to expand the Gold-Copper Trend in Cerro Quema.

Their press release states:

Pershimco is pleased to announce assay results from the 2011 exploration campaign at the Company's Cerro Quema Gold-Copper Project (the "Project") in Panama.

Petaquilla Mine to Sell $45 Million Worth of Gold Futures

September 2010

The mining project located in Panama has agreed the sale to Germany's Deustche Bank of 66,650 ounces of gold over the next five years.

Petaquilla has announced that its production commitments with Deustche Bank represent only 6% of the projects total resources.

Of the $45 million price, $2 million will be invested in working capital for the mine while an additional $40 million will go toward paying off pending bond debts.

Panama Triples Gold Exports

March 2010

Gold exports summed $16 million in 2009, three times more than in 2008, according to data from the Economy ministry.

Zorel Morales, president of the Mining Chamber of Panama, explained that the main driver of this growth was the opening of Petaquilla Gold mine, located in Donoso, Colón.

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