Drilling Results From its San Miguel Project
posted on
Nov 26, 2008 12:06PM
Exploring for gold and silver in Mexico
November 26, 2008 | |
Paramount Gold and Silver Corp. Reports Drilling Results From its San Miguel Project | |
CHIHUAHUA, MEXICO--(Marketwire - Nov. 26, 2008) - Paramount Gold and Silver Corp. (TSX:PZG) (NYSE.A:PZG) (FRANKFURT:P6G, WKN: A0HGKQ) has received the assays from recently completed drill holes in the northern portion of its San Antonio resource area. These holes were drilled to test the northern extensions of the San Antonio vein system and to follow up an interesting gold intercept. Holes SA-57 and 59 were drilled from east to west across the northern part of the San Antonio vein system. SA-57 intersected three gold-silver vein-breccias and SA-59 intersected a single 3.4 meter vein structure. Holes SA-56 and 58 were drilled eastward into the El Carmen North structure. SA-56 was drilled below SA-53, which had better gold grades than is common in the San Antonio area. SA-56 had three intercepts with good gold and silver grades; it appears to be the same structure as intersected in the earlier SA-53. SA-58 intersected only a thin gold-silver vein with modest grades. Highlights are below (visit www.paramountgold.com for further details). ---------------------------------------------------------------------- Hole From To Inter- True Gold Silver Gold Grade val Width Equiv.(i) Thickness Gold Equiv.(i) ---------------------------------------------------------------------- Number (m) (m) (m) (m) (g/t) (g/t) (t/t) (g x m) ---------------------------------------------------------------------- SA - 53 29.00 31.00 2.00 1.78 2.13 273.00 6.68 11.89 ---------------------------------------------------------------------- 31.00 34.00 3.00 2.17 0.12 18.00 0.30 0.65 ---------------------------------------------------------------------- 72.00 73.00 1.00 0.67 0.22 0.00 0.22 0.15 ---------------------------------------------------------------------- 103.40 104.20 0.80 0.53 0.17 0.00 0.17 0.09 ---------------------------------------------------------------------- 108.70 109.55 0.85 0.47 0.16 0.00 0.16 0.08 ---------------------------------------------------------------------- ---------------------------------------------------------------------- SA-56 10.00 11.95 1.95 1.46 0.17 137.2 2.91 4.25 ---------------------------------------------------------------------- 130.90 138.00 7.10 5.33 0.15 54.6 1.24 6.62 ---------------------------------------------------------------------- 150.80 157.00 6.20 4.65 0.23 143.2 3.09 14.39 ---------------------------------------------------------------------- ---------------------------------------------------------------------- SA-57 0.00 5.20 5.20 3.99 0.03 46.7 0.96 3.83 ---------------------------------------------------------------------- 9.00 11.00 2.00 1.54 0.01 103.5 2.08 3.20 ---------------------------------------------------------------------- 13.00 14.00 1.00 0.77 0.02 108.0 2.18 1.68 ---------------------------------------------------------------------- ---------------------------------------------------------------------- SA-58 63.00 64.20 1.20 0.69 0.08 113.0 2.34 1.61 ---------------------------------------------------------------------- ---------------------------------------------------------------------- SA-59 0.00 5.90 5.90 3.39 0.11 43.3 0.98 3.32 ---------------------------------------------------------------------- ---------------------------------------------------------------------- (i) Calculated at Ag/Au equals 50 Larry Segerstrom, COO of Paramount Gold and Silver Corp., commented, "The stream valley at the north end of San Antonio appears to occupy a fault zone. South of the fault, the San Antonio mineralization continues right up to the fault as expected. Additional planned drilling is expected to increase the San Antonio resource up to that fault and further to the west." Paramount will meet investors at its booth at the San Francisco Gold show November 30 and December 1. |