Paramount Gold Nevada Corp. [PZG-NYSE American] reported assay results from 44 new surface samples collected by the company primarily from silicic outcrops at its recently acquired Bald Peak Project 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 metres by 1,400 metres.
“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.
Paramount holds a 100% interest in four gold projects: Grassy Mountain; Frost; Sleeper and Bald Peak. The newly acquired Bald Peak Project in Nevada covers approximately 2,260 acres.