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Para Resources Announces a Drilling Program at El Limon to Mirror 1998 Program
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2017) - Para Resources, Inc. (TSXV...
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[{"type":"text","content":"Para Resources Announces a Drilling Program at El Limon to Mirror 1998 ProgramPara Also Adds Depth to Management TeamVancouver, British Columbia--(Newsfile Corp. - November 16, 2017) - Para Resources, Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to announce that it has engaged Perfotec S.A.S. of Medellin, Colombia to commence a drilling program on the El Limon project to twin 3 historic diamond drilling holes completed 1997 and 1998 and to drill four other off set holes in the same formation. The drilling program will be completed in two phases as follows:Phase 15 holes along a centerline every 50m Estimated drilling depth 700m total 3 holes twinning historical drill logs with identified collars 3 holes to end of alteration zone + 10m into bedrock, 2 holes through upper and lower El Limon veins + 10mTotal cost (estimated): US $103,000 k (drilling + lab)Phase 2 - (with positive results in Phase 1)5 additional holes 50m west of phase 1 to establish resource calculationBasic metallurgical test work  Total cost (estimated): US $101,00Perfotec has confirmed that the drill rig will be on site this coming weekend. Para's Vice-President of Exploration, Paulo Andrade P. Geo will be on site to supervise the program as a Qualified Person to ensure QA and QC and compliance with National Instrument 43-101 standards.Geoff Hampson, Para's CEO states, \"We are excited at the possibility of replicating the results attained in the 1997-98 drilling program and to determine the width and breadth of the formations encountered there. We continue to believe that there are many different systems at play on the Company's El Limon and Otu properties. Hampson further states, \"The Company's goal is to prove out the presence of a resource at depth along the Otu fault as evidenced by artisanal miners working the system at surface.\"Drilling results are expected before year end. The Company also announces that effective January 1, 2018, Mr. Timothy Lallas, CPA, CMA will join Para as Chief Financial Officer of Para. Mr. Lallas has previously been VP Finance for Granada Gold Mines, Castle Silver Resources and Champagne Resources. He was also the Deputy Finance Manager for ArcelorMittal for the $1.5 Billion Mont Wright Expansion Project. Mr. Lallas also served as VP Finance for Calvista Gold ...