Paramount Gold and Silver Corp. Discovers a Third Bulk-Mineable Gold Zone at the San Francisco Area

Paramount Gold and Silver Corp. (NYSE:PZG,TSX: PZG) reported that resource definition drilling continues to progress successfully on bulk-mineable gold deposits in the San Francisco area in December 2009.

The press release is quoted as saying:

Earlier drilling focused on the South and North San Francisco zones which have expanded steadily as reported in news releases dated January 7, March 8 and June 17, 2010. More recent drilling has discovered a further Central zone (see drill results below). Although the San Francisco area remains open, a geological model is in preparation to evaluate results and generate an initial resource estimate while exploration continues. San Francisco is one of four targets currently being drill tested at Paramount Gold’s San Miguel project in northwestern Mexico.

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