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June 19, 2014
08:13 EDTPZGParamount Gold & Silver announces new PEA for San Miguel Project
Paramount Gold and Silver announced that its independent consultants are nearing completion of a new NI-43-101 compliant resource estimate for its 100%-owned San Miguel Project in Northern Mexico to be followed by a revised Preliminary Economic Assessment, or PEA, for the project. A PEA is a complete, integrated project design which estimates mining and processing methods and rates of production, capital and operating costs, cash flows at specified metal prices, rates of return, mine life and net present values at a proposed discount rate. Mine Development Associates of Reno, Nevada is currently preparing the new resource estimate to incorporate the results of drill holes within the resource areas since the last estimate prepared in September 2012. The updated resource estimate is expected to materially upgrade resources from the inferred classification to measured and indicated classifications as well as increase the overall size of the resource. A revised PEA for the San Miguel project will follow the completion of the resource estimate, once again prepared by Metal Mining Consultants of Denver, CO. The revised Mine Plan will incorporate: the new resource estimate; current gold/silver prices; a heap leach scenario for the San Francisco and San Antonio zones; and a reconfigured model using smaller ore blocks. The new heap leach scenario at San Francisco and San Antonio is the result of the Company's foresight to evaluate material which was not included in the previous mill-only PEA scenario. The metallurgical work completed by McClelland Laboratories of Reno, NV confirmed that heap leaching this material is a likely scenario and could increase estimated resources, mine life and project economics.
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October 23, 2014
05:41 EDTPZGParamount Gold & Silver intersects high-grade gold at San Miguel
Paramount Gold and Silver announced that the second drill hole on the newly discovered Dana structure at its 100%-owned San Miguel Project in northern Mexico has intersected high gold grades in addition to the significant silver grades found in the discovery hole released last week. The first hole drilled into Dana, DN-001, returned multiple intercepts of high grade silver with lower grades of gold including 3.6 meters of 157.1 grams per tonne of silver and 0.40 g/T of gold containing assays up to 659 g/T of silver and 1.18 g/T gold. Paramount geologists believed that gold grades would increase at lower elevations similar to the nearby, high grade, Don Ese deposit which it resembles. DN-002 was drilled along strike 100 meters northwest of DN-001 to intersect the Dana structure 50 meters deeper. DN-002 cut a stock work zone with internal silicified breccia totaling 5.4 meters and grading an average of 3.79 g/T gold and 183 g/T silver, which amounts to a 6.84 g/T gold equivalent grade using a gold-to-silver ratio of 1 to 60. The new Dana discovery runs 400-500 meters southwest of the Don Ese structure and parallel to it, and has a strike length potential on Paramount ground of about one kilometer. Don Ese is the highest grade and most valuable gold/silver deposit at San Miguel. The location of Dana favors early development from underground in parallel with Don Ese. Paramount has made Dana a top priority for resource expansion by immediately moving a second core rig onto this target. Dana is just 800 meters northeast of Coeur Mining's Guadalupe underground mine currently under development at its flagship Palmarejo Project. Guadalupe is expected to become the main source of ore for the Palmarejo operation. See the map below.
October 21, 2014
05:12 EDTPZGParamount substantially expands San Francisco bulk tonnage potential
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