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Posts tagged ‘Paramount Gold and Silver Corp (PZG)’

News from Nevada

January 7th, 2013

Liberty, Renaissance, Midway and Paramount keep busy in the golden Silver State

by Greg Klein

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As Visual Capitalist points out, Nevada has given up 200 million ounces of gold so far. Once known as America’s “Silver State,” it now produces about 73% of U.S. gold and hosts the world’s second-largest concentration of the yellow metal. Favourable policies and extensive infrastructure complement the generous geology and correspondingly busy activity. On January 7, Liberty Silver TSX:LSL, Renaissance Gold TSX:REN, Midway Gold TSXV:MDW and Paramount Gold and Silver TSX:PZG all released news from the bountiful jurisdiction.

New claims and lower cutoff grades helped joint venture partners Liberty Silver and Renaissance Gold more than double their Trinity resource in Nevada’s Pershing County. The new estimate gives separate, imperial numbers for the oxide and sulphide deposits, both contained within the same potential open pit.

Using a cutoff of 0.5 silver ounces per ton, Trinity’s oxide deposit shows an inferred category of:

  • 6.43 million tons averaging 1.134 ounces per ton silver for 7.29 million silver ounces.

The sulphide deposit uses a cutoff of 0.8 silver-equivalent ounces, showing an inferred category of:

  • 19.79 million tons averaging 1.07 ounces per ton silver, 0.217% lead and 0.354% zinc (or 1.46 silver-equivalent ounces per ton) for 21.16 million silver ounces, 85.96 million lead pounds and 140.25 million zinc pounds (or 28.84 million silver-equivalent ounces).
An historic photo shows where mining ended in 1996 <br />at the Sleeper project, now held by Paramount Gold and Silver.” width=”400″ height=”300″ />
<p class=An historic photo shows where mining ended in 1996
at the Sleeper project, now held by Paramount Gold and Silver.

The silver-equivalent total for both deposits comes to 36.1 million ounces inferred. Since the previous resource released in December 2011, Trinity’s oxide silver estimate increased 131%, while the sulphide silver-equivalent estimate increased 132%. The 2011 estimate used cutoff grades of 1.37 ounces per ton silver for the oxide deposit and 1.69 ounces per ton silver for sulphides. The updated resource takes higher silver prices into consideration.

But the JV partners also attribute the resource increase to historic drilling on the adjoining Hi Ho Silver property, which they picked up in October. The 40-hectare acquisition raised Trinity’s land package to about 4,250 hectares.

The Trinity open pit was mined during 1988 and 1989, when it produced five million silver ounces. Both step-out and confirmation drilling began last year to expand and upgrade the resource. Liberty acts as project operator.

Liberty’s stock closed January 4 at $0.60, opened January 7 at the same price, then closed on the day’s high of $0.73. Renaissance opened January 7 at $0.55, two cents above its previous close, then sustained a daily high of $0.57 to the closing bell.

Step-out and confirmation drilling have also taken place at Midway Gold’s TSXV:MDW Gold Rock project in Nevada’s White Pine County, with new results released January 7. Estimates for true widths were provided for some intervals. Highlights include:

  • 3.26 grams per tonne gold over 9.1 metres
  • (including 9.12 g/t over 3 metres)
  • 0.89 g/t over 27.4 metres true width
  • (including 3.53 g/t over 1.2 metres)
  • (including 5.1 g/t over 1.5 metres)
  • 1.23 g/t over 18.3 metres true width
  • (including 4.9 g/t over 1.5 metres)
  • (including 7.44 g/t over 1.5 metres)
  • (including 3.77 g/t over 3 metres)
  • 0.58 g/t over 36.6 metres true width
  • 0.93 g/t over 18.3 metres true width
  • (including 4.46 g/t over 1.5 metres).

The top-most intercept began at three metres from surface while the lowest stopped at a down-hole depth of 310 metres. Assays are pending for six more holes.

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Paramount reports Mexico Assays up to 0.55 g/t Gold, 137.4 g/t Silver over 28.9m

August 21st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from the La Union, San Francisco and Don Ese targets on its 100%-owned San Miguel Project in northwest Mexico. Highlights include

0.55 grams per tonne gold, 137.4 g/t silver over 28.9 metres
(including 2.09 g/t gold, 305.95 g/t silver over 2 metres)
1 g/t gold, 149.62 g/t silver over 13.35 metres
7.11 g/t gold, 8.03 g/t silver over 8 metres)
(including 26 g/t gold, 25.1 g/t silver over 1.85 metres)
1.43 g/t gold, 3.66 g/t silver over 9.6 metres
0.58 g/t gold, 21.63 g/t silver over 30.95 metres
0.63 g/t gold, 48.57 g/t silver over 8.2 metres
0.26 g/t gold, 10.66 g/t silver over 30.5 metres

According to 2011 43-101 resource estimates, San Miguel contains 3.15 million ounces gold and 39.8 million ounces silver measured and indicated and 2.47 million ounces gold and 70.9 million ounces inferred.

View Company Profile

Glen Van Treek
VP Exploration
866.481.2233

Chris Theodossiou
Investor Relations
866.481.2233

by Kevin Michael Grace

Paramount reports Mexico Assays including 5.08 g/t Gold over 22m

May 1st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from the La Union zone of its San Miguel Project in Mexico. Assays include

3.29 g/t gold and 5.02 g/t silver over 27.5 metres
(including 11.04 g/t gold and 19.53 g/t silver over 5.7 metres)
15.15 g/t silver over 17 metres
1.34 g/t gold over 14.9 metres
19.9 g/t gold and 19.1 g/t silver over 1.5 metres
8.47 g/t gold over 7.7 metres
(including 54.1 g/t gold over 1.1 metres)
81.4 g/t silver over 4 metres
1.55 g/t gold and 23.72 g/t silver over 18.8 metres
5.08 g/t gold and 10.98 g/t silver over 28.2 metres
(including 17.06 g/t gold and 23.99 g/t silver over 7.7 metres)
6.21 g/t gold and 53.71 g/t silver over 4.9 metres

CEO Christopher Crupi commented, “La Union is now joining Don Ese and the San Miguel Vein as important sources of high-grade gold mineralization. These zones are expected to generate a substantial increase in gold resources in our next NI 43-101 estimate scheduled for later this quarter. More importantly, we believe that as we unravel the factors affecting gold deposition, we will be able to connect the high-grade occurrences into a much larger, continuous body. Two rigs continue to drill on the Guazapares Megastructure where the unexplored gaps are proving to be highly productive.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
866.481.2233

or Chris Theodossiou
Investor Relations
866.481.2233

by Ted Niles

Paramount reports Mexico Assays of 3.88 g/t Gold, 274.9m g/t Silver over 26m

April 3rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced drill results from the Don Ese North deposit of its San Miguel project in Mexico. Highlights include

3.88 g/t gold and 274.9 g/t silver over 26.1 metres
(including 17.91 g/t gold and 1,102 g/t silver over 2.5 metres)
0.85 g/t gold and 88.35 g/t silver over 4.6 metres
1.76 g/t gold and 289.87 g/t silver over 1.2 metres
37.84 g/t silver over 11.1 metres
2.47 g/t gold and 179.34 g/t silver over 2.6 metres
5.83 g/t gold and 245.95 g/t silver over 23.1 metres
(including 38.8 g/t gold and 2,570 g/t silver over 1 metre)

CEO Christopher Crupi commented, “We continue to drill the San Miguel project with three core rigs, one at Don Ese, one testing the gaps in the Guazapares Mega-Structure and one pursuing new targets such as the structure we have found east of Don Ese. Thanks to the quality and experience of our technical team, we are now consistently finding exceptional grades in our drilling and we are confident that this trend can continue. As a result, we have substantially upgraded our expectations for the San Miguel Project. We are proving that we have one of the best projects of its kind in Mexico.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
866.481.2233

or Chris Theodossiou
Investor Relations
866.481.2233

by Ted Niles

Paramount reports Mexico Assays of 4.67 g/t Gold, 19.39 g/t Silver over 9m

March 5th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from the San Francisco Target of its San Miguel Project in northwest Mexico. Assays include

4.67 g/t gold and 19.39 g/t silver over 9 metres
(including 25.5 g/t gold and 86.6 g/t silver over 1.5 metres)
1.51 g/t gold and 11.9 g/t silver over 23.6 metres
(including 5.46 g/t gold and 4.5 g/t silver over 2.1 metres)
1.04 g/t gold and 14.49 g/t silver over 23.4 metres
(including 8.43 g/t gold and 120.41 g/t silver over 1.6 metres)
2.46 g/t gold and 4.5 g/t silver over 8.1 metres
(including 27.1 g/t gold and 24 g/t silver over 0.7 metres)
0.94 g/t gold and 13.24 g/t silver over 14.8 metres
1.12 g/t gold and 65.93 g/t silver over 10.5 metres

CEO Christopher Crupi stated, “We are delighted that this recent drilling at San Francisco has likely increased both the grade and the size of the deposit. All eight holes intersected strong gold and silver mineralization. The Guazapares Megastructure continues to evolve in a quite extraordinary fashion with near-surface, bulk-minable zones such as San Antonio and San Francisco linked to bonanza grade clavo-style occurrences. These results open up options for large, low-cost mining and processing without sacrificing grade, all within a well-established North American mining district.”

View Company Profile

Contact:
Glen Van Treek
VP of Exploration
or Chris Theodossiou
Investor Relations
866.481.2233

by Greg Klein

Paramount reports Mexico Silver Assays up to 418 g/t over 11.5m

February 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from its San Miguel project in Mexico. Assays include

89.26 g/t silver over 4.3 metres
66.19 g/t over 3 metres
45.7 g/t over 10 metres
115.08 g/t over 2.4 metres
418.21 g/t over 11.5 metres (including 1,896.36 g/t over 2.2 metres)
303.62 g/t over 3.6 metres
198.02 g/t over 2.2 metres
62.3 g/t over 3.7 metres
20.06 g/t over 19.7 metres
101.16 g/t over 8.5 metres
201.89 g/t over 20.8 metres
29.92 g/t over 10 metres
218.27 g/t over 4.6 metres
104.18 g/t over 20.8 metres (including 445.69 g/t over 1.5 metres)
92.28 g/t over 11.5 metres
496 g/t over 0.5 metres
104.2 g/t over 14.2 metres
161.13 g/t over 4.7 metres

CEO Christopher Crupi commented, “These results are very exciting because they confirm the potential for a low-cost open pit mine which could offer excellent returns while the deeper, gold-rich deposits are developed from underground. We are also increasingly encouraged by the possibility of melding together the four deposits in the mega structure into one big operation with a significantly larger resource. All the evidence suggests that what we thought of as separate deposits are actually parts of a larger whole. The sheer number of exceptional opportunities available to us for resource expansion is proving to us that the San Miguel Project is one of the premier precious metals projects in Mexico.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
613.226.9881

or Christopher Crupi
CEO
613.226.9881

by Ted Niles

Paramount reports Mexico Gold Assays up to 29.51 g/t over 7.8m

February 16th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced drill results from the Veronica-Santa Clara mega structure of its San Miguel project in Mexico. Highlights include

29.51 g/t gold and 19.11 g/t silver over 7.8 metres
(including 156.83 g/t gold and 77.82 g/t silver over 1.4 metres)
1 g/t gold and 318 g/t silver over 2.6 metres
6.2 g/t gold and 29.2 g/t silver over 1.7 metres
5.94 g/t gold over 1.2 metres
3.7 g/t gold and 17.34 g/t silver over 79.4 metres
(including 21.82 g/t gold and 33.35 g/t silver over 5.5 metres)

CEO Chris Crupi stated, “These are some of the best drill results encountered in the entire district. The new Clavo discovery could prove to be a game-changer for the San Miguel Project for three reasons. First, we have taken another major step towards proving that the seven-kilometre long Veronica-Santa Clara corridor is a continuously-mineralized structure connecting the known deposits within it. The 2.8 kilometres of undrilled gaps within this corridor become more exciting with each hole we drill. Second, the greater widths evident in hole 27 could support open-pit mining which would have major economic benefits. Finally, we are discovering gold-rich zones at depth below previously-identified silver mineralization as we had hoped. Each of these developments could greatly enhance the value of the San Miguel Project.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
613.226.9881

by Ted Niles

Paramount reports Mexico Results up to 2.75 g/t Gold, 166.83 g/t Silver over 17.6m

February 1st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced assays from its San Miguel Project in Mexico. Highlights include

2.75 g/t gold and 166.83 g/t silver over 17.6 metres
(including 6.89 g/t gold and 363.62 g/t silver over 6 metres)
2.07 g/t gold and 3.97 g/t silver over 19.2 metres
(including 4.18 g/t gold and 15.6 g/t silver over 0.7 metres)
1.76 g/t gold and 128.24 g/t silver over 9.2 metres
(including 4.62 g/t gold and 293.4 g/t silver over 2.5 metres)

CEO Christopher Crupi stated, “The Don Ese Deposit increasingly resembles the neighbouring Guadalupe Deposit on Coeur’s Palmarejo Mine. Guadalupe, which is being prepared for production later this year, is just one kilometre from Don Ese and contains measured and indicated resources of 450,00 ounces gold and 37.3 million ounces silver as of January 2010. Ore from the Guadalupe Deposit will be moved by road to the Palmarejo Mill, which will improve access to Don Ese. Meanwhile every hole we drill in La Veronica-Santa Clara mega-structure takes us closer to the possibility that this is one continuous precious metal occurrence with major economic consequences. We are very excited to begin filling in the gaps in this corridor.”

View Company Profile

Contact:
Glen Van Treek
VP of Exploration
or Chris Theodossiou
Investor Relations
866.481.2233

by Greg Klein

Paramount reports Mexico Assays of 2.61 g/t Gold, 513.84 g/t Silver over 13.5m

January 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from its San Miguel project in Mexico. Assays include

3.81 g/t gold and 245.7 g/t silver over 5 metres
(including 10.31 g/t gold and 664.12 g/t silver over 1.7 metres)
1.44 g/t gold over 10.7 metres
36.16 g/t silver over 6.2 metres
86.02 g/t silver over 4.6 metres
1.17 g/t gold and 26.82 g/t silver over 25.8 metres
(including 3.94 g/t gold and 123.43 g/t silver over 2.1 metres)
14.6 g/t gold and 24.5 g/t silver over 0.7 metres
1.68 g/t gold and 24.07 g/t silver over 6.8 metres
4.87 g/t gold and 23.04 g/t silver over 6.7 metres
338.75 g/t silver over 15.4 metres
(including 2,900 g/t silver over 0.7 metres)
1.06 g/t gold over 18.9 metres
2.61 g/t gold and 513.84 g/t silver over 13.5 metres
(including 6.58 g/t gold and 1,285.87 g/t silver over 5.1 metres)
2.05 g/t gold over 8 metres

CEO Christopher Crupi stated, “Our drilling on the San Miguel vein has exceeded expectations in terms of both continuity and grade. Our new infill program is focused on expanding and confirming high-grade resources at Don Ese, La Union and San Francisco. In addition, exploration drilling is probing the highly-prospective gaps within the 7.5-kilometre long La Union-La Veronica mega structure including the 1.3-kilometre gap between the San Antonio and La Veronica deposits as well as the 1.2-kilometre gap between La Union and Santa Clara. If we are right about the continuity of this structure, we expect to announce significant new discoveries this year.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
866.481.2233

or Chris Theodossiou
Investor Relations
866.481.2233

by Ted Niles

Paramount reports Mexico Silver Assays up to 298.5 g/t over 12.5m

January 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningParamount Gold and Silver Corp TSX:PZG announced results from the San Antonio deposit of its San Miguel project in Mexico. Assays include

208.1 g/t silver over 2.7 metres
63.18 g/t over 14 metres
41.48 g/t over 21 metres
314 g/t over 2 metres
54.94 g/t over 25.5 metres
172.31 g/t over 24.1 metres
99.08 g/t over 8.3 metres
298.95 g/t over 12.5 metres
77.97 g/t over 22 metres
111.59 g/t over 8.5 metres
318.04 g/t over 9.4 metres
102 g/t over 8.1 metres
121.24 g/t over 6.8 metres
76.53 g/t over 24.5 metres
47.17 g/t over 10.8 metres
124.09 g/t over 13.7 metres

CEO Christopher Crupi remarked, “A bigger picture is now emerging for the San Miguel Project. What were originally thought to be smaller, individual deposits now appear to be connected links within very large mineralized corridors similar to the one hosting Couer d’Alene’s [TSX:CDM] neighboring Palmarejo mine. These continuous corridors not only offer the potential for expanded resources but also important economies of scale when they are exploited. The more we drill, the better San Miguel looks. We anticipate an exciting year of progress on this project in 2012.”

View Company Profile

Contact:
Glen Van Treek
VP Exploration
866.481.2233

or Chris Theodossiou
Investor Relations
866.481.2233

by Ted Niles