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Update NI 43-101 Technical Report on Optioned Claims Covering the Tr-Ue Vein Adjacent to the Gold Road Mine
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2018) - Para Resources Inc. (TSXV: PB...
About this update from Soma Gold Corp.
[{"type":"text","content":"Update NI 43-101 Technical Report on Optioned Claims Covering the Tr-Ue Vein Adjacent to the Gold Road MineOption agreements and new staking covering an additional 69 patented and 74 unpatented claims representing 2,846.4 acresVancouver, British Columbia--(Newsfile Corp. - April 11, 2018) - 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 entitled \"2018 Technical Report on the Oatman Gold District Properties\" dated April 10, 2018 and authored by James R. Guilinger, a Qualified Person under NI 43-101 has been filed on SEDAR and is available for review. The Oatman Gold District Properties include multiple option agreements that Para has secured and staked that are in addition to the adjacent Gold Road Mine property that is the subject of the updated NI 43-101 Technical Report filed on SEDAR February 16, 2018. Some selected highlights from the report:Para has secured option agreements with various property owners covering 69 patented and 2 unpatented claims. In addition, Para has staked an additional 72 unpatented claims surrounding these patented claims. This land package covers all the known significant historical mines in the Tr-Ue vein system. Historical production from these claims on the Tr-Ue vein system was 1,930,000 tons at an average grade of 21.4 grams per ton, yielding 1,324,230 ounces of gold between 1897 and 1940. Historic mines located along the Tr-Ue vein system and throughout the district occur in veins of epithermal origin hosted in volcanic country rock consisting primarily of either the Tertiary Gold Road Latite or the Oatman andesite.The historical chutes on the Tr-Ue system produced approximately 200 to 500 thousand ounces and graded from 0.6 to 1.1- ounce (18.66 — 34.21 grams) gold per ton. Approximately 7 major chutes have been mined. The thicker chutes were between 30 and 50 feet thick and were 300 to 600 feet long. An average chute is estimated at 10 feet thick. The depth of the stopes is unknown as the vein was still present on the lower levels of the workings although thinner and lower grade.The report recommends a US $7 million multi-year phased exploration program consisting of 135 drill holes, representing approximately 30,000 meters of drilling on seven targets. Each of the targets potentia...