Business
Para Resources Inc.: Update NI 43-101 Technical Report on Gold Road Mine Filed on SEDAR
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2017) - Para Resources Inc. (TSXV: ...
About this update from Soma Gold Corp.
[{"type":"text","content":"Para Resources Inc.: Update NI 43-101 Technical Report on Gold Road Mine Filed on SEDARNI 43-101 Mineral Resource Estimate by RPM GLOBAL expected in early January 2018Vancouver, British Columbia--(Newsfile Corp. - December 7, 2017) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF)  (the \"Company\" or \"Para\") is pleased to announce that an NI 43-101 Technical Report on the Gold Road Mine and surrounding mineral claims under the control of Para has been filed on SEDAR and is available for review. Some selected highlights from the report:The Gold Road Mine has an excellent historic resource base that is expected to be upgraded with additional development.There are several significant exploration targets that, with appropriate exploration and development resources are expected to be upgraded into current NI 43-101 mineral resourcesThe report concludes that the proposed multi-year exploration plan be implemented to test additional targets along strike, down dip and parallel veins to the existing Gold Road Vein with the goal of upgrading the identified mineralization into a current NI 43-101 mineral resource. A program should also be developed to upgrade historic resources to NI 43-101 mineral resources (in addition to what will be upgraded by the sampling currently underway in association with the planned PEA confirmation sampling program).The targeted multi-year exploration budget of US$ 6.6 million, to be financed by planned production cash flow, is expected to yield a target of 716,000 new ounces of gold, at an average discovery cost of under $10 per ounce. To view the table, please visit: http://orders.newsfilecorp.com/files/3819/31101_a1512651856576_33.jpgThe Gold Road Mine has an extensive and successful operating historyThe potential of restarting operations at Gold Road Mine, pending the completion of the Exploration Plan and the PEA, appears reasonable due to the following:All surface disturbances are on private land owned by Gold RoadRecent operating history has demonstrated achievable and efficient mining methods and metallurgical recoveriesAll necessary permits are in place and securedThere has been a long history of environmental complianceGeoff Hampson, Para's CEO, states, \"This NI 43-101 Technical Report on the Gold Road mine is the first in a series of reports that we expect to be published in...