Paramount Gold Nevada Corp. (NYSE American: PZG)
("Paramount”) is pleased to provide highlights of our
progress in 2021 and a glimpse of what you can expect in 2022.
Friends of Paramount Gold,
Last year provided no shortage of challenges for the gold sector
despite an economic, fiscal, and monetary backdrop that was broadly
expected to be constructive for the gold price and related
equities. Nonetheless, we persevered with the de-risking
initiatives we had previously outlined, and we are extremely
pleased with the progress we achieved despite the uncertainties
related to the Covid-19 pandemic.
Over the past year, at Paramount we continued to make strides
towards achieving our top priority of permitting the high-grade
Grassy Mountain gold project in eastern Oregon. The submissions of
a modified Plan of Operation to the Bureau of Land Management (BLM)
and an amended Consolidated Permit Application to the State of
Oregon in December 2021 represent the culmination of two years of
diligent effort by our team. The submissions were supported in part
by technical drilling, laboratory testing & analysis and
submissions of remaining Baseline Data Reports. Earlier in the year
we received a two-year extension of the Conditional Use Permit from
Malheur County.
We are encouraged by the collaboration with State and Federal
regulators which was integral to the completion of both
submissions. We will continue to work with the State of Oregon to
ensure they have all information necessary to deem the application
complete, thereby issuing the Notice to Proceed. The Notice to
Proceed will initiate the State’s Environmental Assessment and
commence the preparation of draft permits within a 225-day period
as indicated under State law. Parallel to the State of Oregon
process, our team will collaborate with the BLM to ensure that our
modified Plan of Operations meets all their requirements so that
the Notice of Intent can be registered with the federal registrar
to initiate the National Environmental Policy Act (“NEPA”) process
which will include the Environmental Impact Statement of the
proposed mining operation.
With an eye to potential growth in Oregon and to further
maximize the return profile at Grassy Mountain, we initiated the
first drill program in over 30 years at the Frost project located
approximately 12 miles away. The program was designed to follow up
on historical intercepts of up to 25g/t of gold and to test
previously identified additional targets. Final assay results and
associated analysis are expected shortly.
Switching gears to one of the world’s best-established mining
jurisdictions, in 2021 we took the first steps towards awakening
the former high-grade Sleeper gold mine in northern Nevada. We
consolidated our land holdings surrounding the former Sleeper pit
to ~40k acres with the acquisition of additional claims located
approximately two miles south of the pit. We continue to review
metallurgical recovery methods and the analysis of processing
alternatives that will assist in defining the parameters of a new
technical report to be completed in 2022. In conjunction with this
work, we conducted a review of the vast historic database at
Sleeper to identify new drill targets geared towards resource
expansion and an improved grade profile. This resulted in the first
drilling at Sleeper in almost a decade. Assay results and analysis
from the drilling campaign are still pending.
Staying in Nevada, in August we acquired Bald Peak, a highly
prospective property in Mineral County that has never been drilled
despite exhibiting high-grade gold samples at surface. The results
of a CSAMT identified zones of high resistivity and interpreted
structural zones that coincide with the positive assays from
surface sampling that returned gold grades of up to 10.85 g/t
within favorable alteration. In 2022 we will further evaluate the
results of the 2021 program and plan for an initial drill campaign
at the project.
In closing, we would like to thank you for your interest in
Paramount Gold. From our team to your family, we hope that you had
a great holiday season and wish you health, happiness, and
prosperity in 2022 and into the future.
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 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 and search for additional high-grade deposits
similar to the former producer.
The newly acquired Bald Peak Project in Nevada, consists of
approximately 2,260 acres.
Safe Harbor for Forward-Looking Statements
This release and related documents may include
"forward-looking statements" and “forward-looking information”
(collectively, “forward-looking statements”) pursuant to applicable
United States and Canadian securities laws. Paramount’s future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and other
applicable securities laws. Words such as "believes," "plans,"
"anticipates," "expects," "estimates" and similar expressions are
intended to identify forward-looking statements, although these
words may not be present in all forward-looking statements.
Forward-looking statements included in this news release include,
without limitation, statements with respect to the use of proceeds
from the Offerings. Forward-looking statements are based on the
reasonable assumptions, estimates, analyses and opinions of
management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements
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
disclosures as filed with the SEC and the Ontario, British Columbia
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
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From May 2024 to Jun 2024
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From Jun 2023 to Jun 2024