Paramount Gold and Silver Corp. (NYSE:PZG, AMEX:PZG,TSX:PZG) announced that new drilling at their Sleeper Gold Project shows expansion to 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.
Get Our Expert Guide to Silver Investing FREE!Download this FREE Special Report, When Will Silver Go Up: Is the Highest Price of Silver Still to Come?