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New High Grade Surface Samples at Paramount’s Bald Peak Prospect Align With Large, Shallow Geophysical Target
WINNEMUCCA, Nev., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) announced today assay result
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., Nov. 02, 2021 (GLOBE NEWSWIRE) -- 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...