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Paramount Gold Nevada Completes Geophysical Survey on Newly Acquired Bald Peak Project in Nevada
WINNEMUCCA, Nev., Oct. 19, 2021 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount”) announced today that it has completed a promi
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., Oct. 19, 2021 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount”) announced today that it has completed a promising ground geophysical survey of its recently acquired Bald Peak Project (“Bald Peak”) located in Mineral County, Nevada. The Controlled Source Audio-frequency Magnetotellurics Survey (“CSAMT”) totalling 21.4 km over 15 lines defined three-dimensional continuity of silicified zones which appear to be the source of surface gold on the property. These zones are identified as areas of resistivity by CSAMT. The Company’s technical team has reviewed and verified surface samples from these zones completed by previous operators which returned gold values of up to 8 g/T associated with strong silicification and occasional brecciation, a favourable feature also identified by the CSAMT survey. Paramount President and COO, Glen Van Treek, commented: “We are encouraged to find strong resistivity zones immediately below surface rock samples grading over 2 g/T and up to 8 g/T Au in this never before drilled project. The next phase of exploration is to design and execute our initial drill program.” The CSAMT survey measured the conductivity of the ground to a depth of approximately 400 meters. Numerous highly resistive bodies were found with values over 1,000 ohm-meters, a very high reading typically associated with high silica bearing bodies. The CSAMT survey was completed by Zonge International Geophysical Services and monitored by Jim Wright of Wright Geophysics, a well-known senior geophysicist with over 48 years’ experience in Nevada. An approximate 2-kilometer zone was identified striking NNE with similar veining to Hecla Mining’s Aurora mine immediately east of Bald Peak (see figures below). To stay informed of future press releases, subscribe to our E-Alerts Program and to learn more about our projects visit the projects section of our website. 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 constructin...