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Paramount Gold and Silver Reports Substantial Intercepts on San Miguel Deposit

Paramount Gold and Silver, a US-based exploration and development company, has reported high-grade silver and gold values from 10 more holes that were drilled on the San Miguel Vein deposit at its San Miguel Project in Mexico.

All 10 holes, which were drilled in the end of 2011 on the San Miguel Vein deposit, returned numerous intercepts of substantial silver and gold mineralization, including 5.1 m grading 1,285.9 g/t of silver and 6.58 g/t of gold.

On the whole, the company had completed 34 infill drill holes totaling 9,160 m on the San Miguel Vein deposit in the year 2011 out of which assay results have been reported for 33 holes. These results should considerably boost the indicated and measured resources at this deposit. Overall, the company has completed 100 drill holes consisting 30,952 m into the San Miguel Vein deposit.

The direction of these drill holes was designed to interrupt the structural features at right angles in order to offer a close estimation to true width, but deep intercepts could have cut the formations at less than right angles due to usual deviation.

Paramount's CEO, Christopher Crupi stated that the drilling project conducted on the San Miguel vein has surpassed the expectations in both grade and continuity. The company’s new infill project will primarily extend and confirm high-grade resources at San Francisco and Don Ese, La Union. Crupi further added that exploration drilling is being done to study the high potential gaps in the La Union-La Veronica mega structure including the 1.2 km gap between Santa Clara and La Union and the 1.3 km gap between the La Veronica and San Antonio deposits. The company anticipates announcing new discoveries in 2012, if the continuity of the structure proves positive.

Source: http://paramountgold.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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