Paramount Sees Increased Indicated and Inferred Silver Resources at San Miguel Project

Paramount Gold and Silver Corp. (AMEX:PZG) announced that new drill results from extensions to its La Union deposit at its Mexican San Miguel project have boosted indicated silver resources to 53.6 million ounces plus 46.2 million ounces inferred.

As quoted in the press release:

Of 13 new core holes drilled, 10 intersected significant gold and silver values which are expected to improve the size and grade of San Miguel’s estimated resources.

Christopher Crupi, Paramount’s CEO, commented:

Drilling the Guazapares Megastructure consistently generates good results, demonstrating an unusual continuity of mineralization along this very large precious metals corridor. We continue to explore the potential of our large San Miguel property in pursuit of additional resource expansion while the PEA is in progress. Numerous untested targets are being prioritized for drilling as well as extensions of known deposits, many of which remain open.

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