Paramount Gold & Silver Drilling Expands PAD Zone at Sleeper Project

Paramount Gold & Silver (TSX:PZG,NYSE:PZG) announced the expansion in size of it’s PAD Zone at the Sleeper Gold Project in Nevada. The drilling is aimed at enhancing the economics of the recently completed PEA. Intercepts from the new zone and South Sleeper extensions include 16.76 m of 1.03 Au g/t.

As quoted in the press release:

Shallow drilling in the northeast portion of the Sleeper mine site under the original heap leach pad returned near-surface intercepts of 26.06 meters grading 0.59 Au g/T and 41.15 meters grading 0.61Au g/T, well above the PEA cut-off grade. This material is within easy reach of the PEA’s pit design at a low strip ratio. The PAD zone is now thought to connect to the Facility zone to the south. The PEA recommends that a portion of the old heap leach pad be moved to extract mineralized material from the Facility zone, opening up the PAD zone for exploitation without substantial additional capital costs.

Christopher Crupi, Paramount’s CEO, stated:

With the successful completion of the Sleeper PEA, we are now working to optimize the project’s economics by adding close-in resources at a higher average grade. One core rig is focused on targets in the vicinity of the original Sleeper mine site to find satellite deposits. We also have a reverse circulation rig drilling the recently acquired MIMI claims, located south of Sleeper towards Newmont’s Sandman project, where our geologists have defined several priority targets with the potential to discover a high grade deposit similar to the original Sleeper mine.

Click here to view the full press release.