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Para Resources Inc.
Summary
| Project: | Gold Road Mine | |
|---|---|---|
| Deposit: | Gold Road Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 12/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-12-2017: Para Resources Inc. announces an Exploration/Drilling Update report for its Gold Road Mine deposit at the Gold Road Mine project. Technical report of the property. The Gold Road Mine (Gold Road, The Mine) was discovered in 1900 in Mohave County | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James R. Guilinger (World Industrial Minerals LLC) | |
| ABSTRACT: | The Gold Road Mine (Gold Road, The Mine) was discovered in 1900 in Mohave County, Arizona. Located 15 miles (24 km) northeast of the Arizona-California-Nevada border, Gold Road exists in Arizona’s greatest primary gold producing district. The San Francisco district has produced over 2,100,000 ounces within the last century. Total historic production from Gold Road is 746,040 ounces with an average grade of 0.315 oz/ton (9.77 g/t) Au. Following the geologic pattern of the district, the Gold Road deposit is of epithermal origin. Historic gold production has come from a vein system averaging approximately 40 feet in width. Typically the ore grade section of the vein is on or near the footwall of the vein system. Although sometimes found in multiple veins, economic grade is most often found within a single vein. An extensive review of existing exploration and mine plans has been completed. In this review consideration was given to the recent (2010 - 2015) historic production at Gold Road, including resources, operations and exploration recommendations. This updated Technical Report forms the basis going forward for the completion of a planned PEA that will address the development, scheduling, costing, production and economic model for Gold Road Mine. The conclusions of this evaluation indicate that at the current price of gold, the Company should proceed with a confirmatory sampling program of a select number of existing historic resource blocks followed by a PEA to assess the feasibility of restarting production at the Gold Road Mine. Risk in moving forward towards restarting operations has been markedly reduced due to the experience gained via the recent operation of The Mine by the previous owner Mohave Desert Minerals whose key personnel are now Associates of the Company. | |
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