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Paramount Gold Nevada Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 6/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 21-6-2017: Paramount Gold Nevada Corp. announces an Exploration/Drilling Update report for its Grassy Mountain deposit at the Grassy Mountain project. Drilling results incl. 74.7m @ 8.15g/t Au, 12.4g/t Ag from 160.3m. WINNEMUCCA, Nev., June 21, 2017 (GLOB | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael McGinnis (Internal) | |
| ABSTRACT: | WINNEMUCCA, Nev., June 21, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE MKT:PZG) ("Paramount”) announced today that assay results from four new holes drilled at the Grassy Mountain Project confirm the consistency of grade and thickness of gold mineralization required for underground mining and may enhance the mineable resource. 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 is expected to: convert, a significant portion of the underground 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 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 drilling is designed to: improve the confidence level of the resource; better define and potentially expand 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. Drilling was completed using a reverse circulation (“RC”) rig for the upper portion of the deposit and a core rig for the high grade underground portion which will be incorporated into a mine plan | |
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