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Paramount Gold and Silver Corp. (NYSE:PZG, TSX:PZG) announced that they have intersected gold and silver grades beyond greater-than-expected widths suggesting that there is opportunity for additional resource development.
Paramount Gold and Silver Corp. (NYSE:PZG, TSX:PZG) announced that they have intersected gold and silver grades beyond greater-than-expected widths suggesting that there is opportunity for additional resource development.
As quoted in the press release:
Drill hole DS-13-030 targeted the Don Ese Vein approximately 100 meters below hole DS-12-025 which was drilled on the same section last year (see section below). DS-13-30 intercepted two structures– 6.6 meters grading 2.5 grams per tonne (g/T) gold and 315 g/T silver in the hanging wall (8.4 g/T gold equivalent at current metal prices) and a further intercept of 19.4 meters grading 2.3 g/T gold and 246 g/T silver in the footwall (6.9 g/T gold equivalent). These two intercepts lie within a structural zone which is 50.6 meters wide with an average grade of 1.33 g/T gold and 150 g/T silver (4.1 g/T gold equivalent). Hole DS-13-030 is one of the best drilled to date at Don Ese and represents clear evidence of a structure which is widening at depth while continuing to report exceptional precious metal values.
Paramount’s CEO, Chris Crupi, said:
We have thought for some time that the Don Ese Vein would continue to depth and that widths and grades could increase. This new drill hole, along with additional drilling now in progress, demonstrates that the current resource is wide open to an unknown depth which we intend to define and integrate into an updated resource estimate later this year.
To view the whole press release, click here.Â
