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Paramount Gold Nevada Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 8/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 2-8-2017: Paramount Gold Nevada Corp. announces an Exploration/Drilling Update report for its Grassy Mountain deposit at the Grassy Mountain project. Drilling results incl. 219.8 @ 1.85g/t Au, 8.7g/t Ag from 60.96m. WINNEMUCCA, Nev., Aug. 02, 2017 (GLOBE | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael McGinnis (Internal) | |
| ABSTRACT: | WINNEMUCCA, Nev., Aug. 02, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) (“Paramount”) announced today that assay results from five new holes drilled at the Grassy Mountain Project confirm the consistency of both the grade and thickness of the gold mineralization for economic underground mining and will likely enhance the mineable mineralized material. The 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 its Grassy Mountain Project located on private ground in eastern Oregon. The PFS drilling is primarily designed to convert underground measured and indicated resources to proven and probable reserves. Furthermore, the drilling has acquired material for additional metallurgical testing and geotechnical data, which are required to optimize precious metal recovery processes and to characterize the rock to determine the best mining method. Previous extensive met testing has demonstrated that a simple gravity process followed by leaching obtains excellent recoveries of both gold and silver. The PFS will also establish the parameters of a mining and milling operation, define capital and operating costs, and advance the project through the permitting process with the Bureau of Land Management (“BLM”), Oregon Department of Geology and Mineral Industries (“DOGAMI”) and the local agencies of Malheur County. The PFS is scheduled for completion in early 2018. | |
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