Paramount Gold and Silver Intercepts 8.4 Meters of 685.6 g/t Silver and 1.09 g/t Gold

Paramount Gold and Silver Corp. (TSX:PZG,NYSE:PZG) announced assay results from six new core holes drilled at the Dana vein. Dana was discovered earlier this year, and lies between Paramount’s Don Ese deposit and Coeur Mining Inc.’s (NYSE:CDE) Guadalupe mine. All six holes intercepted gold and silver mineralization.

As quoted in the press release:

A total of eight holes have now been drilled at Dana, all returning significant precious metal values. Drill holes DN-003, DN-006 and DN-007 appear to have found the main Dana structure where it has widths ranging from 7 to 12 meters, which indicates the structure is conducive for underground mining. These holes contain intercepts with exceptional silver values and, thus far, moderate gold grades. Additional narrower crosscutting veins have also been intersected in the drilling. Three dimensional modeling conducted by Paramount geologists shows that that the main Dana structure is probably an offshoot from the southern portion of Don Ese.

Paramount’s CEO, Christopher Crupi, said:

We believe the Dana structure could add further value to the proposed acquisition of Paramount by Coeur Mining (NYSE: CDE). Mining of the Dana deposit would take advantage of the existing infrastructure that will be in place when Coeur mines the Don Ese and Independencia deposits. This is an exciting development because it has the potential to add additional mineralized material which could extend the mine life of Coeur’s Palmarejo complex.

Click here to read the Paramount Gold and Silver Corp. (TSX:PZG,NYSE:PZG) press release