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Paramount Gold Nevada Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 5/17/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 17-5-2017: Paramount Gold Nevada Corp. announces an Exploration/Drilling Update report for its Grassy Mountain deposit at the Grassy Mountain project. Drilling results incl. 194.2m @ 2.74g/t Au, 6.3g/t Ag from 39.6 m. WINNEMUCCA, Nev., May 17, 2017 (GLOBE | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael McGinnis (Internal) | |
| ABSTRACT: | WINNEMUCCA, Nev., May 17, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE MKT:PZG) ("Paramount”) announced today that ongoing drilling at its Grassy Mountain Gold Project in Eastern Oregon continues to intersect the underground core of the deposit with high gold grades. Results from four new holes verify the high-grade gold material for the proposed underground mine plan with expected variability. The current 30-hole drill program is part of a Preliminary Feasibility Study (“PFS”) which Paramount is undertaking for construction and operation of an underground mine to exploit the high-grade gold core at Grassy Mountain. The PFS is expected to: convert, a significant portion of the measured plus indicated resources to proven and probable reserves; establish the parameters of a mining and milling operation; define capital and operating costs; and advance the project through permitting process with the Bureau of Land Management (“BLM”), Oregon Department of Geology and Mineral Industries (“DOGAMI”) and local agencies of Malheur County. The drilling is designed to: improve the confidence level of the resource; better define the high-grade core; and acquire material for additional metallurgical testing and geotechnical data required to determine precious metal recovery processes and mining method. The PFS is scheduled for completion in early 2018. The four holes reported today were drilled within a 400ft. by 200 ft. area located on the south western edge of the high-grade core zone (see map below). | |
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