Paramount Intercepts Up to 12.20m Wide Grading 1.22 g/T Gold

- November 29th, 2012

Paramount Gold and Silver ( (NYSE:PZG, AMEX:PZG, TSX:PZG) announced drilling results from four additional holes into the growing La Bavisa target on their San Miguel Project in Mexico.

Paramount Gold and Silver ( (NYSE:PZG, AMEX:PZG, TSX:PZG) announced drilling results from four additional holes into the growing La Bavisa target on their San Miguel Project in Mexico.

As quoted in the press release:

The La Bavisa target, located 700 meters north of the high-grade Don Ese resource, has been traced on surface for over 2.8 km. To date, a total of eight drill holes have been completed into La Bavisa, defining a mineralized strike of 1.5 km. containing intercepts up to 12.20 meters wide grading 1.22 g/T gold and 255.8 g/T silver (approximately 5.5 g/T of gold equivalent at a conservative silver-to-gold ratio of 60:1). La Bavisa has not yet been incorporated into San Miguel’s resource estimates and therefore is not part of the project’s first Preliminary Economic Assessment scheduled for completion by year-end.

Paramount’s CEO, Christopher Crupi, said:

The Don Ese resource area has emerged as a major target, potentially the most important of the four main mineralized zones on San Miguel. A swarm of higher-grade structures has now been identified at Don Ese and are likely to be exploited together. The reality is that San Miguel continues to grow quickly and we are far from exhausting our list of excellent opportunities for resource expansion. Our challenge is to develop current engineering and economic projections while at the same time undergoing rapid resource expansion.

To view the whole press release, click here.

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