Paramount Receives Favorable Gold, Silver Results from Second Dana Drill Hole

Paramount Gold and Silver Corp. (TSX:PZG,NYSE:PZG) announced that the second drill hole on the Dana structure at its Mexico-based San Miguel project has intersected both high gold grades and “significant” silver grades.

As quoted in the press release:

The first hole drilled into Dana, DN-001, returned multiple intercepts of high grade silver with lower grades of gold including 3.6 meters of 157.1 grams per tonne of silver (g/T) and 0.40 g/T of gold containing assays up to 659 g/T of silver (21 ozs per ton) and 1.18 g/T gold (see news release of October 15, 2014). Paramount geologists believed that gold grades would increase at lower elevations similar to the nearby, high grade, Don Ese deposit which it resembles. DN-002 was drilled along strike 100 meters northwest of DN-001 to intersect the Dana structure 50 meters deeper. DN-002 cut a stock work zone with internal silicified breccia totaling 5.4 meters and grading an average of 3.79 g/T gold and 183 g/T silver, which amounts to a 6.84 g/T gold equivalent grade using a gold-to-silver ratio of 1 to 60.

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