Last Updated :
08 January 2010 at 15:40 IST
Paramount Gold discovers Gold deposits
ONTARIO (Commodity Online): Paramount Gold and Silver Corp. (NYSE Amex:PZG) (TSX:PZG)(FRANKFURT:P6G) has discovered a new, gold-rich, bulk-mineable style of deposit with the potential to meet Paramount’s goal of adding two million ounces of in the current program.
The initial phase of target test drilling at Paramount’s 100% owned San Miguel Project in the Palmarejo Mining Camp, Chihuahua State, Mexico.
The test phase has to date drilled 10,191 meters of core into seven different targets.
Three of these targets with bulk mineable potential have been moved to the next phase of work-- resource definition drilling-- to begin in January 2010 using a diamond core drill and a reverse circulation drill both contracted from Layne de Mexico SA de CA.
According to Chris Crupi, CEO of Paramount the focus on resource expansion at the highest priority targets, ‘we are most excited about a new, gold-rich bulk deposit style which could rapidly expand the size and quality of our project.’
NCDEX GOLDINTLJUL2012 30 July 2012
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