New High Grade Surface Samples at Paramount’s Bald Peak Prospect Align With Large, Shallow Geophysical Target
November 02 2021 - 7:00AM
Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or
the “Company”) announced today assay results from 44 new surface
samples collected by the company primarily from silicic outcrops at
its recently acquired Bald Peak Project (“Bald Peak”) in Mineral
County, Nevada. The samples averaged 2.62 g/T gold and 4.2 g/T
silver, with more than half assaying above 2 g/T gold and running
as high as 10.85 g/T gold.
Paramount President and COO Glen Van Treek
commented: “We are extremely excited about these results. The
samples align with a large, intense CSAMT-derived resistivity
anomaly about 300 feet below. Resistivity indicates silicification
and we know that gold at Bald Peak is found in association with
silica. It is also exceedingly rare to find these surface grades in
a Nevada project which has never been drilled.”
The best surface values are clustered in close
proximity to the most intense area of the geophysical anomaly which
measures about 600 meters by 1,400 meters (see map below).
”These assay results suggest the potential for
an open pit deposit. The alignment of surface samples and CSAMT
anomalies are exactly what we were looking for when we acquired
Bald Peak. This work will define our initial drill program at Bald
Peak which is targeted for next year,” added Van Treek.
Several examples of the higher-grade results are listed in the
table below.
Sample ID |
Au(g/t) |
Ag(g/t) |
Sample Source |
Description |
298502 |
10.9 |
3.7 |
Outcrop |
Quartz vein, strong FeOx, some quartz boxwork |
298558 |
7.9 |
5.7 |
Outcrop |
Quartz vein, 2' w, moderate to strong FeOx, void with secondary
quartz mineralization |
298548 |
5.6 |
2.7 |
Outcrop |
Quartz vein outcrop, 1' w, moderate FeOx, void <2 cm with
secondary quartz mineralization |
298507 |
5.5 |
10.3 |
Outcrop |
10' w, minor quartz vault/stockwork, void, moderate FeOx, euhedral
calcite boxwork |
298557 |
5.3 |
1.7 |
Outcrop |
Quartz vein, 2' w, moderate to strong FeOx, void with secondary
quartz mineralization, |
298546 |
4.9 |
2.7 |
Float |
Quartz vein float, void <2cm with secondary Qtz mineralization,
strong FeOx, Bx |
298545 |
4.8 |
2.2 |
Outcrop |
Quartz vein, 6"w, FeOx |
298501 |
4.4 |
1.7 |
Outcrop |
Quartz vein, 4"w, FeOx |
298553 |
3.6 |
3.0 |
Outcrop |
Quartz vein, 6' w, visible strata in vein, moderate to strong FeOx,
void with secondary quartz mineralization, quartz boxwork, vault
<2" |
298555 |
3.6 |
1.6 |
Outcrop |
Quartz vein, 6'w, weak to moderate FeOx, void with secondary quartz
mineralization |
298552 |
3.6 |
8.7 |
Outcrop |
Quartz vein, strong FeOx, 7"w |
298547 |
3.5 |
4.8 |
Outcrop |
Quartz vein & vault, 1"w 20" l, strong FeOx, old
exploration/prospecting pit, some voids with minor secondary quartz
mineralization |
298560 |
3.4 |
2.5 |
Outcrop |
Quartz vein, 1'w, strong FeOx, some voids with FeOx and secondary
quartz mineralization |
298571 |
3.2 |
16.2 |
Outcrop |
Quartz vein, 6'w, fault separating 2 sections of outcrop, dominant
feature at outcrop, boxwork in vein and wall rock, void with
secondary quartz mineralization |
298581 |
3.2 |
12.7 |
Outcrop |
Quartz vein zone, 4'w, 20% silicified wall rock, strong FeOx on
fractures & disseminated in wall rock |
298554 |
2.8 |
1.0 |
Float |
Quartz vein float, weak to moderate FeOx, void with secondary
quartz mineralization |
298576 |
2.7 |
2.7 |
Outcrop |
Quartz vein outcrop and float, FeOx, void with secondary quartz
mineralization |
298559 |
2.7 |
2.0 |
Outcrop |
2' Quartz Vein |
298556 |
2.5 |
0.9 |
Outcrop |
Quartz vein, 2'w, weak FeOx, void with secondary quartz
mineralization, boxwork (euhedral calcite voids) |
298503 |
2.3 |
1.7 |
Outcrop |
Quartz vein in lithic tuff outcrop, 2'w, weak FeOx, void with
secondary quartz mineralization, weak propylitic alteration
(epidote) |
Figure 1 Rock samples shown in CSAMT slice from a
depth of 300 ft. to 450 ft.
-https://www.globenewswire.com/NewsRoom/AttachmentNg/b11463e5-eaa4-454c-bdab-ce520a7deb60
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About Paramount Gold Nevada
Corp.Paramount Gold Nevada Corp. is a U.S. based precious
metals exploration and development company. Paramount’s strategy is
to create shareholder value through exploring and developing its
mineral properties and to realize this value for its shareholders
in three ways: by selling its assets to established producers;
entering joint ventures with producers for construction and
operation; or constructing and operating mines for its own
account.
Paramount holds a 100% interest in four gold
projects: Grassy Mountain; Frost; Sleeper and Bald Peak.
The Grassy Mountain Gold Project consists of
approximately 8,200 acres located on private and BLM land in
Malheur County, Oregon. The Grassy Mountain Gold Project contains a
gold-silver deposit (100% located on private land) for which
results of a positive Feasibility Study have been released and key
permitting milestones accomplished.
Frost is comprised of 84 unpatented lode claims
covering approximately 1,730 acres located 12 miles southwest of
the Company’s proposed high-grade, underground Grassy Mountain gold
mine in Malheur County, Oregon (“Grassy”). An initial drill program
is ongoing.
The Sleeper Gold Project is located in Northern
Nevada, the world’s premier mining jurisdiction. The Sleeper Gold
Project, which includes the former producing Sleeper mine, totals
2,322 unpatented mining claims (approximately 60 square miles or
15,500 hectares). The Sleeper gold project is host to a large gold
deposit (over 4 million ounces of mineralized material) and the
Company has completed and released a positive Preliminary Economic
Assessment. With higher gold prices, Paramount has begun work to
update and improve the economics of the Sleeper project.
The newly acquired Bald Peak Project in Nevada, consists of
approximately 2,260 acres.
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are made, but which may prove to be incorrect. Management believes
that the assumptions and expectations reflected in such
forward-looking statements are reasonable. Assumptions have been
made regarding, among other things: the conclusions made in the
feasibility study for the Grassy Mountain Gold Project (the “FS”);
the quantity and grade of resources included in resource estimates;
the accuracy and achievability of projections included in the FS;
Paramount’s ability to carry on exploration and development
activities, including construction; the timely receipt of required
approvals and permits; the price of silver, gold and other metals;
prices for key mining supplies, including labor costs and
consumables, remaining consistent with current expectations; work
meeting expectations and being consistent with estimates and plant,
equipment and processes operating as anticipated. There are a
number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including, but not limited to:
uncertainties involving interpretation of drilling results;
environmental matters; the ability to obtain required permitting;
equipment breakdown or disruptions; additional financing
requirements; the completion of a definitive feasibility study for
the Grassy Mountain Gold Project; discrepancies between actual and
estimated mineral reserves and mineral resources, between actual
and estimated development and operating costs and between estimated
and actual production; the global epidemics, pandemics, or other
public health crises, including the novel coronavirus (COVID-19)
global health pandemic, and the spread of other viruses or
pathogens and the other factors described in Paramount’s
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and Alberta Securities Commissions.
Except as required by applicable law, Paramount
disclaims any intention or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this document.
Paramount Gold Nevada Corp. Rachel
Goldman, Chief Executive OfficerChristos
Theodossiou, Director of Corporate
Communications866-481-2233Twitter:
@ParamountNV
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