Paramount Gold and Silver (PZG) has intersected significant gold and silver mineralization while drilling the Don Ese target at its wholly owned San Miguel project in the Sierra Madres of Chihuahua, Mexico. The first hole into the blind target returned 16 metres averaging 2.11 grams gold and 90 grams silver per tonne, starting from 481 metres down-hole. The 16-metre section includes a higher-grade 7.6 metres of 4.25 grams gold and 133 grams silver. Stepping out along strike, Paramount has encountered similar grades and thicknesses in five of the first six holes drilled. The steeply-dipping mineralized structural zone that hosts the Don Ese vein has been traced for a strike length of 550 metres, with remarkable grade continuity. It runs north-northwest and remains open along dip and along strike for at least another 200 metres before it butts up both to the north and south against the neighbouring mine property of Coeur d'Alene Mines (CDE).
Paramount Gold and Silver Corp. (NYSE /TSX: PZG) (Frankfurt: WKN: A0HGKQ) ("Paramount") announced today that preliminary results from ongoing metallurgical test work on its 49.6 square mile, 100%-owned Sleeper Gold Project in Nevada confirm the potential for economic gold recoveries from the Sleeper waste dumps.
This is a great news and I think the company will start mining this gold discovery in 2012. I am giving PZG a $4 price target for 2012 but even a rally back into the $3's will treat you well. For the latest updates on the stock , visit paramountgold.com For the latest updates PRESS CTR + D or visit Stock Market news Today
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