Business
Para Provides Update on Gold Road Mine
Vancouver, British Columbia--(Newsfile Corp. - March 13, 2018) - Para Resources Inc. (TSX...
About this update from Soma Gold Corp.
[{"type":"text","content":"Para Provides Update on Gold Road MineVancouver, British Columbia--(Newsfile Corp. - March 13, 2018) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to announce that is has successfully completed the dewatering of its 88% owned Gold Road underground mine in Arizona.  Completing dewatering has allowed underground rehabilitation work to continue at the lowest levels of the mine. In addition, approximately 11,000 feet of the decline ramp has been rehabilitated, providing rubber tire access. Initial ventilation has been established, the electrical system has been re-energized and the compressed air system installed. The completion of this work has allowed access to all areas of the mine for sampling and assaying as required for the NI 43-101 PEA which is scheduled to be completed in early April. Mr. Ian Harris, Para's President states, \"Dewatering completion is a significant milestone moving us closer to completing the rehabilitation of the Gold Road Mine.  With mine access reestablished we can finalize our resampling program to update historical resources, the mine plan and production restart.\"ABOUT PARA RESOURCES:Para is a junior producing gold mining company. Para owns approximately 80% of the El Limon project, in Colombia, which in addition to its current underground operation is purchasing mineralized rock mined by small artisanal miners working on the Company's property. The El Limon and OTU properties also have exploration and development upside. The Company also owns 88% of the Gold Road Mine in the Oatman District of Arizona. The Company has hired RPM Global as consulting engineers in order to produce a NI 43-101 Technical Report which it expects will establish a current Mineral Resource estimate and anticipates that it will publish a NI 43-101 PEA thereafter. Para will continue to take advantage of current market conditions to acquire and develop additional highly economic, near-term production assets that have strong exploration and development upside.Cautionary Notes:This press release contains forward-looking information under Canadian securities legislation.  Forward-looking information. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as \"plans\", \"expects\" or \"does not expect...