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Paragon Minerals Corporation (CVE:PGR) reports gold recoveries from the second phase of metallurgical test work at Golden Promise JV gold project, Newfoundland, Canada.
The press release is quoted as saying:
Paragon’s joint venture partner, Crosshair Exploration & Mining Corp. (NYSE Amex: CXZ; TSX: CXX) (“Crosshair”) has received the final set of metallurgical test results from twelve drill holes at the Jaclyn Main Deposit indicating gold recoveries of 96%. Crosshair also received the necessary permits to carry out the surface bulk sampling program at the Jaclyn Main Deposit.
Michael Vande Guchte, President and CEO of Paragon Minerals Corporation says:
“We are very pleased with the metallurgical test results at the Jaclyn Main Gold Deposit. Gold recoveries of 96% clearly demonstrate that the gold is readily extractable and amenable to conventional metallurgical processing methods” “We look forward to getting the surface bulk sample completed and outlining the full potential of this project”. The exploration programs are being funded by Crosshair as part of the 2009 Joint Venture Agreement (see Paragon News Release dated April 9, 2009 and August 25, 2009). Paragon retains a 40% interest in the Golden Promise JV Project.”