Paragon Minerals Corporation (CVE:PGR) reports a further update on its exploration activities on its South Tally Pond volcanogenic massive sulphide project, Newfoundland.
The press release is quoted as saying:
Paragon has made a significant copper-lead-zinc-silver-gold VMS discovery at the Lemarchant prospect, located approximately 20 kilometres from the Duck Pond mine site. The 2011 drill program is aimed at further defining the Lemarchant mineralization towards a NI 43-101 compliant resource and to test other high priority targets areas on the property. Ten drillholes (3,326 metres) of a planned 9,000 metre drill program have now been completed.
Paragon’s President and CEO, Michael Vande Guchte says:
“We remain encouraged with the drilling to-date at the Lemarchant massive sulphide discovery. Rapid changes in thickness of the massive sulphides can be expected in these types of environments and further step-out and infill drilling is required”