Paragon and Golden Dory Begin Drilling at Huxter Lane Gold Project

Paragon Minerals Corp. (TSXV:PGR) reported that exploration partner, Golden Dory Resources Corp. (TSXV:GDR) has started a 2,000 metre drill program at the Huxter Lane gold project in central Newfoundland.

As quoted in the press release:

The drill program is designed to expand the National Instrument 43-101 compliant gold resource at the Huxter Lane – Mosquito Hill gold deposit and to test a large, untested geophysical and geochemical gold anomaly located about 1,000 metres to the northwest of the currently defined gold deposit. On completion of the drill program, Golden Dory plans to update the NI43-101 gold resource and complete a preliminary economic assessment.

The Mosquito Hill gold deposit is a near surface, bulk tonnage gold target that contains an indicated resource of 11.18 million tonnes averaging 0.546 g/t gold for 196,257 ounces gold and an inferred resource of 38.76 million tonnes averaging 0.457 g/t gold for 569,496 ounces gold at a cutoff of 0.30 grams per tonne gold (see Paragon Minerals Corporation news release dated September 29, 2010). The deposit remains open for expansion.

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