Paramount Gold and Silver Corp. Reports High Grade Gold Assays at Clavo 66
Paramount Gold and Silver Corp. has received assays from hole LU-20 drilled at depth in Clavo 66 to test continuity between existing holes previously intercepting significant gold mineralization. Drill hole LU-20 intercepted a hanging wall structure grading 9.60 g/t Gold across a true thickness of 4.40 meters. Immediately adjacent lower-grade mineralization included 5.04 meters (true width) grading 0.43 g/t gold and 2.00 g/t silver. The main targeted structure contained a 0.60 meter (true width) intercept grading 13.35 g/t gold and 135 g/t silver. The immediately adjacent footwall mineralization contained an average grade of 1.44 g/t Gold across a true width of 4.01 meters.
Larry Segerstrom, COO of Paramount Gold and Silver Corp., commented, “Continued drilling in Clavo 66, including drill hole LU-20, confirms the continuity of high gold mineralization at Clavo 66. As with drill hole LU-19, significant mineralization was encountered in a hanging wall structure providing another target zone for future drilling. These continued significant results at Clavo 66 support Paramount’s decision to move towards feasibility of mine development.”
Drill hole SJ-15 was one of three drill holes (SJ 13-15) that were drilled to test a geophysical anomaly below surface mineralization. Surface mapping and earlier drilling indicated that the mineralized zone generally dips east. However, there are some veins at the surface that also dip west, towards a strong geophysical anomaly. As with drill holes SJ-13 and 14, this hole confirmed that minor veining dips west, but thickness and grade were not significant. The geophysical anomaly appears to be owing to the steep side of a shallow intrusion that underlies the San Jose area to the immediate east at a much higher level.
