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Paramount Gold Nevada Corp.
Summary
| Project: | Grassy Mountain | |
|---|---|---|
| Deposit: | Grassy Mountain | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 1/30/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-1-2017: Paramount Gold Nevada Corp. announces an Exploration/Drilling Update report for its Grassy Mountain deposit at the Grassy Mountain project. Drilling results incl. 43.0m @ 47.51g/t Au, 12.68g/t Ag from 166.12m. Paramount Gold Nevada Corp. (NYSE | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael McGinnis (Calico Resources USA Corp.) | |
| ABSTRACT: | Paramount Gold Nevada Corp. (NYSE MKT: PZG) ("Paramount”) today announced that the first results from its current drill program at its Grassy Mountain Project are exceeding expectations in terms of grade and rock quality for mining purposes. The results to date are confirming the high-grade core of the deposit which is surrounded by a larger envelope of lower grade gold mineralization. Paramount’s plan is to construct an underground mine to exploit the high-grade core. The current 29-hole drill program is part of an ongoing Pre-Feasibility Study (“PFS”) required to raise resources to proven and probable reserves and complete the mine permitting process. Paramount CEO Glen van Treek commented: “The results from the first four holes confirm our expectation of a possible improvement in the resource. We expect that the infill drilling will continue to find smaller but very high grade zones that can add meaningful ounces to the overall resource. Previous resource estimates may not have captured the impact of these very high grade occurrences. Further drill results are needed to come to a firm conclusion but we are excited by the assays we have received to date which lead us to believe that incremental improvements in quantity and overall grade may be achievable.” Paramount has paused the drilling due to current weather conditions at the site and expects to resume its drill program in February. | |
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