Paramount Gold and Silver, a US-based exploration and development company, has announced high-grade assay results from two new drill holes in the Veronica-Santa Clara mega structure at its San Miguel Project located in México. The company is continuing exploration activities at the San Miguel Project.
LU-12-027 and LU-12-026 drill holes identified a new high-grade gold zone, also called Clavo, on the La Union deposit’s southern edge and also within the unexamined gap towards the Santa Clara deposit. In addition, the 8.65 m intercept in hole 27, grading 19.27 g/t silver and 13.02 g/t gold, exists into a broad mineralized zone of stock works and veins, totaling 79 m in thickness and averaging 17.34 g/t of silver and 3.70 g/t of gold. This zone is believed to have a minimum thickness of 60 m.
LU-12-025 drill hole in the central portion of La Union encountered 7.75 m grading 19.11 g/t of silver and 29.51 g/t of gold. This drill hole may increase the dimension of the La Union deposit’s high-grade core. In addition, intersection of 1.35 m grading 77.82 g/t of silver and 156.83 g/t of gold validates the significant grades related to the La Union’s core zone, which could establish them as the highest grade deposit encountered in the Palmarejo District.
Paramount's CEO, Christopher Crupi informed that the latest Clavo discovery will increase the value of the San Miguel Project. First, the company has proved that the Veronica-Santa Clara passage is a continuously-mineralized structure linking the identified deposits within it; second the thicknesses apparent in hole 27 can sustain open pit mining and this can provide significant benefits; and finally the company has identified gold-rich zones at depth beneath prior-discovered silver mineralization. All these developments throw a positive light in the San Miguel Project, Crupi concluded.
Source: http://paramountgold.com/