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Para Resources Reports on Filing National Instrument 43-101 Technical Report on El Limon Gold Project
VANCOUVER, BC / ACCESSWIRE / September 30, 2015 / Para Resources Inc. (the "Company" or "...
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[{"type":"text","content":"Para Resources Reports on Filing National Instrument 43-101 Technical Report on El Limon Gold ProjectVANCOUVER, BC / ACCESSWIRE / September 30, 2015 / Para Resources Inc. (the \"Company\" or \"Para\") (TSX Venture: PBR) (WKN: A14YF1) is pleased to advise that it has filed a technical report dated September 15, 2015 authored by David Bikerman, EM,MS, MAIG of Bikerman Engineering & Technology Associates, Inc. (or \"BETA\") (the \"El Limon Report\") on the El Limon project, prepared in accordance with National Instrument 43-101 of the Canadian Securities Administrators. The El Limon Report is available for review on SEDAR under Para's profile and also has been posted on our website: www.pararesources.com\nGeoff Hampson, CEO of Para, commented:\n\"Para is pleased that the El Limon Report has been completed as it provides far more detail about the El Limon project from both a historical perspective on past mining operations, as well as our go forward plan on refurbishing the mine works and increasing production capabilities. As detailed in our news release of September 11, 2015, we are excited about the improvements being undertaken at El Limon, and we look forward to the completion of upgrades. Our representatives have been negotiating contracts among approximately 60 independent mining operations in the vicinity of the El Limon mine and the upgraded capacity will give us tremendous toll-milling opportunities. All in all, we are extremely pleased with progress as we continue to execute our plan of acquiring and developing advanced assets with strong development potential.\"\nEl Limon Overview\nThe El Limon Project is a property of merit with a rich history of mining. The first mill was built on site in 1938. Gold production from the El Limon mine has progressed with remarkable continuity over the 75 years since. The grade of the gold-bearing vein mined over the years was quite high, at over 20 grams per tonne. Recent bulk-tonnage grades of mineralized material mined average between 5-10 grams of gold per tonne, while recuperation of pillars has yielded mineralized vein grading greater than 80 grams of gold per tonne. Additional exploration will be required to delineate future mine resources and reserves. \nThe crushing plant and mill are currently being upgraded as part of a $1.75 million mine reconstruction plan of which approx...