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Paramount Gold Nevada Initiates Drill Program at the Historic Sleeper Gold Mine
Paramount Initiates Drill Program at Sleeper - YouTubeTap to unmuteParamount Initiates Drill Program at SleeperParamount GoldParamount Gold65 subscribersWatch o
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" Paramount Initiates Drill Program at Sleeper - YouTubeTap to unmuteParamount Initiates Drill Program at SleeperParamount GoldParamount Gold65 subscribersWatch on WINNEMUCCA, Nev., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount”) announced today it has initiated a reverse circulation drill program to test several exploration targets identified by our team and Mine Development Associates (“MDA”) in our joint evaluation designed to bring the Sleeper Mine back into production. Paramount Gold Nevada owns a 100% interest in the Sleeper Gold Project, a former high-grade open pit gold producer located off a main highway approximately 25 miles northwest of the town of Winnemucca, Nevada. The famed Sleeper mine was operated by AMAX Gold Inc. (“Amax”) from 1986 until 1996, producing 1.66 million ounces of gold and 2.3 million ounces of silver. Paramount has assembled a district-scale project with significant unexplored gold potential. The project land position includes staked and purchased lands which brings the total holdings to approximately 60 square miles or about 40,000 acres. Paramount President and Chief Operating Officer Glen Van Treek stated: “After a thorough review of the extensive database of historic assays and geophysical data during the first half of the year, our technical team has identified numerous drill targets. We are excited to have started this first phase of drilling and for the potential of discovering another high-grade “Sleeper type” deposit. As part of the Company’s ongoing effort to restart the historic Sleeper Gold Mine, Paramount contracted MDA in December of 2020 to evaluate the following: The most prospective drill targets with the goal of defining a new high-grade Sleeper type vein deposit; Priority drill targets within the Sleeper deposit which could improve the overall grade and confidence level of the current resource; A scoping level study comparing various processing and throughput alternatives for restarting production at Sleeper; and Define the parameters of a new technical report. The Sleeper Project currently hosts a large, low-grade open pit resource. Sleeper Project Pit Constrained Mineral Resource Estimate Classification Tonnes (000’s) Au Grade (g/t) Au oz (000’s) Ag Grade (g/t) Ag oz (000’s) Measured 209,4...