Paragon and Crosshair Recover 314 Ounces Gold

Paragon Minerals Corporation (TSXV:PGR) reports an update on the trenching and bulk sampling program funded and operated by JV partner, Crosshair Exploration (TSX:CXX) on the Golden Promise JV project in central Newfoundland. 

The press release is quoted as saying:

Highlights of the program include:

• 313.59 ounces of gold and 23.05 ounces of silver were recovered from a 2,174 tonne surface bulk sample;
• a bulk sample grade of 5.59 grams/tonne (g/t) gold which is approximately 26% higher than the average block model grade of 4.42 g/t gold; and
• positive milling characteristics of the mineralized material.

Based on the encouraging results of the bulk sample, Crosshair plans to prepare a new resource estimate that will include the 2010 drilling and bulk sample. The Jaclyn Main deposit remains open along strike and to depth.

Click here to access the entire news release.

Click here to access Paragon’s company profile.