Paramount Gold and Silver Corp TSX:PZG announced resource remodelling for the La Union and San Antonio deposits of its San Miguel project in northern Mexico. At a 25 g/t silver-equivalent cut-off, La Union now has resources of 807,000 ounces silver and 8,800 ounces gold indicated, and 9.03 million ounces silver and 147,000 ounces gold inferred. At the same cut-off, San Antonio has resources of 7.02 million ounces silver and 3,000 ounces gold indicated, and 12.42 million ounces silver and 7,700 ounces gold inferred.
Resources for all of San Miguel’s deposits will be re-estimated in 2Q 2012 to incorporate 2011 and early 2012 drilling. The updated estimate will be used in the preliminary economic assessment.
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Glen Van Treek
or Chris Theodossiou
by Ted Niles