Paramount Gold and Silver Corp. (NYSE:PZG, AMEX:PZG,TSX:PZG) announced that new drilling at their Sleeper Gold Project expanded the PAD Zone and the prospective South Sleeper area.
As quoted in the press release:
The PAD and South Sleeper drill results are outside the current resource as defined in the PEA and are expected to expand the Sleeper Gold Project’s in-pit resource. Shallow drilling in the northeast portion of the Sleeper mine site under the original heap leach pad (the PAD zone) returned multiple near-surface intercepts well above the PEA cut-off grade including 48.8 meters grading 0.453 g/T gold, 9.1 meters of 0.82 g/T gold and 7.8 g/T silver and 6.7 meters of 0.83 g/T gold.
Paramount’s CEO, Christopher Crupi, said:
With the successful completion of the Sleeper PEA, we are now working to optimize the project’s economics by adding close-in resources at a higher average grade. The Sleeper project is a surprisingly robust project given its low grade, primarily because of its high volumes and low capital costs.
|Otis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.|