Paramount Gold Drills 569 g/t
Silver Across 3.0 meters and 184 g/t Silver Across 61.90 meters, Ending in
Mineralization of 438 g/t silver at their San Miguel Project, Mexico
Chihuahua, Mexico – (BUSINESS WIRE)
– March 28, 2007 – Paramount Gold Mining Corp. (OTC: PGDP) (Frankfurt: P6G, WKN: A0HGKQ), is pleased to announce the most recently reported assays from its
ongoing drill program at the San Miguel Project near Temoris, Chihuahua,
Mexico. The following results are six in-fill drill holes completed in
the San Antonio area, between drill holes SA-10 (10.7 meters of 296 g/t
silver) reported on Jan. 30th, 2007 and SA-01 (44.85 meters
averaging 133.4 g/t silver) reported Dec. 14th, 2006. These
six drill holes span a distance along strike of approximately 360 meters.
Drill hole SA-19 had numerous high grade
intersects of silver, including 1.75 meters of 1,294 g/t silver and 4.40 meters
of 1,162 g/t silver. SA-19 intersected 61.9 meters that averaged 184 g/t
silver with 0.41% combined lead and zinc from 25.0 to 86.9 meters. The hole
ended in strong mineralization at 89.10 meters with a 0.90 meter intersect from
88.20 to 89.10 meters of 438 g/t silver with 2.36% combined lead/zinc.
SA-19 was drilled at a 55 degree angle, and with most drill holes
being drilled at 55 to 65 degrees, true widths are estimated to be 80% of
reported drill core lengths.
SA-17 intersected 4.3 meters (45.0 to 49.3) of
218 g/t silver and 7.0 meters (57.0 to 64.0) of 253 g/t silver. The best
intersect for SA-16 was 3.0 meters (59.5 to 62.5) of 569 g/t silver.
Bill Reed, Exploration Manager for Mexico said, “The recent results in the San Antonio zone fill in
some of our previous wide spaced drill holes. Not only does it
potentially expand our silver resource, but it also gives us more confidence in
the continuity of this zone. The mineralized zone appears to widen out in
the San Antonio
area as witnessed by drill hole SA-19 that intersected 61.9 meters of strong
silver mineralization and the hole was still in strong mineralization when it
ended."
San
Antonio zone Highlights (see the
drill table below)
SA-15 cut 2.30 meters from 25.3 to 27.6 of 196
g/t silver with 1.18% combined lead/zinc and
0.80 meters from 106.7 to 107.5 of 199 g/t
silver with 1.71% combined lead/zinc
SA-16 averaged 12.9 meters from 49.6 to 62.5 of
172 g/t silver
including 0.8 meters from 49.6 to 50.4 of 362
g/t silver
including 3.0 meters from 59.5 to 62.5 of 569
g/t silver.
SA-17 averaged 19.0 meters from 45.0 to 64.0 of
156 g/t silver
including 4.3 meters from 45.0 to 49.3 of 218
g/t silver
including 7.0 meters from 57.0 to 64.0 of 253
g/t silver.
SA-19 averaged 61.9 meters from 25.0 to 86.9 of
184 g/t silver with 0.41% combined lead/zinc
including 1.75 meters from 37.0 to 38.75 of
1,294 g/t silver
including 1.80 meters from 57.0 to 58.8 of 287
g/t silver.
including 6.50 meters from 76.0 to 82.5 of 172
g/t silver
including 4.40 meters from 82.5 to 86.9 of
1,162 g/t silver.
The hole ended in strong mineralization at
89.10 meters with a 0.90 meter intersect from 88.20 to 89.10 meters of 438 g/t
silver with 2.36% combined lead/zinc
Drill Hole Locations
A drill hole and trench location map can be
found at Paramount's
web site www.paramountgold.com.
SA-19 is located approximately 50 meters to the
south of SA-10 which reported 51.6 meters that averaged 78 g/t silver with
0.57% combined lead and zinc from 11.3 to 62.9 meters, including 8.25 meters of
683 g/t silver, 16.70 meters of 129.0 g/t silver and 8.4 meters of 137 g/t
silver with 1.19% combined lead and zinc.
SA-16, SA-17 and SA-18 were collared from the
same location, between previous drill holes SA-11 (5.4 meters of 217 g/t
silver) and SA-13 (10.7 meters of 296 g/t silver) and approximately 180
meters south of SA-19. SA-16 was drilled vertical (90 degrees),
SA-17 was drilled towards the east (60 degrees)
at a 55 degree angle and SA-18 was drilled towards the southwest (240 degrees)
at a 55 degree angle.
SA-14 is located approximately 60 meters east
of SA-01 (44.85 meters averaging 133.4 g/t silver) and SA-15 is located
approximately 50 meters north of SA-14.
Quality Control
Person
Paramount takes detail photos of the entire
core before it is cut to half core which is assayed at ALS Chemex's Vancouver laboratory. As
part of quality assurance, quality control (QAQC), a blank
(sterile) sample is
submitted every 20th sample. Later, pulps from a number of intervals will be
renumbered and pulps from known standards will be inserted between them in
numerical order. These will then
be submitted for
reanalysis. The results will then be compared to the original values reported,
and the known values of the inserted standards. Half-core samples have been
retained on site for verification
and reference purposes.
C.W. (Bill) Reed, B. Sc.
Mineralogy, is the qualified person and has prepared the detail and review with
respect to this news release.
|
Drill hole
|
From
|
To
|
Width
|
Gold
|
Silver
|
Gold
|
Lead
|
Zinc
|
|
|
Meters
|
Meters
|
Meters
|
g/t
|
g/t
|
Equiv
|
%
|
%
|
|
SA - 14
|
0.00
|
7.40
|
7.40
|
0.03
|
19.00
|
0.34
|
0.01
|
0.09
|
|
|
44.80
|
49.05
|
4.25
|
0.00
|
19.00
|
0.31
|
0.12
|
0.32
|
|
|
191.05
|
194.10
|
3.05
|
0.00
|
4.00
|
0.06
|
0.92
|
0.45
|
|
|
199.10
|
201.10
|
2.00
|
0.00
|
5.00
|
0.08
|
0.31
|
0.59
|
|
|
208.90
|
210.00
|
1.10
|
0.00
|
41.00
|
0.68
|
0.42
|
0.65
|
|
|
|
|
|
|
|
|
|
|
|
SA - 15
|
20.40
|
25.30
|
4.90
|
0.00
|
29.00
|
0.48
|
0.07
|
0.33
|
|
|
25.30
|
27.60
|
2.30
|
0.04
|
196.00
|
3.97
|
0.49
|
0.69
|
|
|
29.10
|
30.75
|
1.65
|
0.00
|
115.00
|
1.92
|
0.45
|
1.21
|
|
|
32.30
|
34.80
|
2.50
|
0.00
|
28.00
|
0.47
|
0.11
|
0.29
|
|
|
82.00
|
84.80
|
2.80
|
0.00
|
33.00
|
0.54
|
0.15
|
0.39
|
|
|
99.00
|
101.00
|
2.00
|
0.00
|
112.00
|
1.86
|
0.07
|
0.13
|
|
|
101.00
|
104.70
|
3.70
|
0.00
|
27.00
|
0.44
|
0.46
|
0.21
|
|
|
106.70
|
107.50
|
0.80
|
0.00
|
199.00
|
3.32
|
0.53
|
1.18
|
|
|
107.50
|
112.50
|
5.00
|
0.00
|
20.00
|
0.32
|
0.14
|
0.27
|
|
SA - 16
|
0.00
|
14.35
|
14.35
|
0.00
|
24.00
|
0.40
|
0.02
|
0.27
|
|
|
27.45
|
28.50
|
1.05
|
0.00
|
90.00
|
1.50
|
0.03
|
0.11
|
|
|
49.60
|
50.40
|
0.80
|
0.00
|
362.00
|
6.03
|
0.10
|
0.13
|
|
|
50.40
|
59.50
|
9.10
|
0.00
|
25.00
|
0.42
|
0.02
|
0.12
|
|
|
59.50
|
62.50
|
3.00
|
0.00
|
569.00
|
.9.49
|
0.04
|
0.10
|
|
|
62.50
|
68.00
|
5.50
|
0.00
|
39.00
|
0.64
|
0.02
|
0.09
|
|
|
90.00
|
90.85
|
0.85
|
0.00
|
71.00
|
1.18
|
0.10
|
0.31
|
|
|
108.80
|
112.15
|
3.35
|
0.00
|
8.00
|
0.13
|
0.26
|
0.82
|
|
|
182.60
|
183.20
|
0.00
|
0.00
|
71.00
|
1.18
|
0.72
|
1.93
|
|
Average
|
49.60
|
62.50
|
12.90
|
0.00
|
172.00
|
2.87
|
0.03
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
SA - 17
|
0.00
|
6.00
|
6.00
|
0.00
|
46.00
|
0.76
|
0.05
|
0.26
|
|
|
6.00
|
23.50
|
17.50
|
0.00
|
13.00
|
0.21
|
0.03
|
0.24
|
|
|
23.50
|
29.00
|
5.50
|
0.00
|
46.00
|
0.77
|
0.02
|
0.18
|
|
|
37.50
|
39.50
|
2.00
|
0.00
|
73.00
|
1.22
|
0.05
|
0.18
|
|
|
45.00
|
49.30
|
4.30
|
0.00
|
218.00
|
3.64
|
0.08
|
0.16
|
|
|
49.30
|
57.00
|
7.70
|
0.00
|
32.00
|
0.53
|
0.06
|
0.18
|
|
|
57.00
|
64.00
|
7.00
|
0.00
|
253.00
|
4.22
|
0.23
|
0.24
|
|
|
64.00
|
66.70
|
2.70
|
0.00
|
44.00
|
0.74
|
0.19
|
0.18
|
|
|
95.90
|
105.00
|
9.10
|
0.00
|
33.00
|
0.55
|
0.19
|
0.47
|
|
|
105.00
|
108.80
|
3.80
|
0.00
|
106.00
|
1.17
|
0.33
|
0.90
|
|
|
108.80
|
128.80
|
20.00
|
0.00
|
33.00
|
0.56
|
0.22
|
0.60
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
45.00
|
64.00
|
19.00
|
0.00
|
156.00
|
2.59
|
0.13
|
0.20
|
|
Average
|
95.90
|
128.80
|
32.90
|
0.00
|
41.00
|
0.69
|
0.22
|
0.60
|
|
|
|
|
|
|
|
|
|
|
|
SA - 18
|
37.50
|
38.70
|
1.20
|
0.00
|
92.00
|
1.53
|
0.09
|
0.25
|
|
|
42.00
|
43.00
|
1.00
|
0.00
|
46.00
|
0.77
|
0.03
|
0.23
|
|
|
53.25
|
54.05
|
0.80
|
0.00
|
66.00
|
1.10
|
0.04
|
0.10
|
|
|
|
|
|
|
|
|
|
|
|
SA - 19
|
0.00
|
21.00
|
21.00
|
0.00
|
52.00
|
0.87
|
0.05
|
0.14
|
|
|
25.00
|
28.00
|
3.00
|
0.00
|
199.00
|
3.31
|
0.20
|
0.31
|
|
|
28.00
|
37.00
|
9.00
|
0.00
|
25.00
|
0.42
|
0.05
|
0.12
|
|
|
37.00
|
38.75
|
1.75
|
0.00
|
1294.00
|
21.57
|
0.61
|
0.44
|
|
|
38.75
|
57.00
|
18.25
|
0.01
|
78.00
|
1.30
|
0.19
|
0.43
|
|
|
57.00
|
58.80
|
1.80
|
0.00
|
287.00
|
4.78
|
1.33
|
0.62
|
|
|
61.25
|
61.60
|
0.35
|
0.00
|
347.00
|
5.78
|
0.70
|
0.59
|
|
|
76.00
|
82.50
|
6.50
|
0.00
|
172.00
|
2.87
|
0.21
|
0.38
|
|
|
82.50
|
86.90
|
4.40
|
0.05
|
1162.00
|
19.37
|
0.12
|
0.25
|
|
|
86.90
|
88.20
|
1.30
|
pending
|
pending
|
|
|
|
|
|
88.20
|
89.10
|
0.90
|
0.00
|
438.00
|
7.30
|
1.06
|
1.30
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
37.00
|
61.60
|
24.60
|
0.00
|
176.00
|
2.93
|
0.29
|
0.40
|
|
Average
|
76.00
|
86.90
|
10.90
|
0.02
|
572.00
|
9.53
|
0.18
|
0.33
|
|
Average
|
25.00
|
86.90
|
61.90
|
0.00
|
184.00
|
3.06
|
0.16
|
0.25
|
About San Miguel
San Miguel is currently
comprised of 16 concessions covering an estimated +8 kms strike of silver and
gold mineralization. It is located in Chihuahua,
Mexico and lies
in the Guazapares mining district, part of
the gold-silver belt of
the Sierra Madre Occidental. Paramount
signed an agreement in August 2005 with Amermin S.A. de CV, a subsidiary of Tara
Gold Resources, and has earned a 70% interest in the
San Miguel project.
About Paramount Gold
Paramount Gold is a precious metals exploration
company quoted on the OTCBB under the symbol PGDP and listed on the Frankfurt
Stock Exchange under the symbol P6G (WKN: A0HGKQ). The Company's objectives are
to explore and develop the San Miguel project, located in Chihuahua,
Mexico within the Sierra
Madre Occidental gold/silver belt and fully develop the potential of the
strategic alliance with Teck Cominco for gold
exploration in South America. For more
information, please visit the Company's web site at: www.paramountgold.com (now available
in the following
languages: English, German, French, Spanish,
and Mandarin).
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: The statements contained herein which
are not historical are forward-looking statements that are subject to risks
and uncertainties that could cause actual
results to differ materially from those expressed in the forward-looking
statements, including, but not limited to, certain delays beyond the company's
control
with respect to commencement of drilling
operations, concentration in mineral deposits, delays in testing and evaluation
of ore samples, and other risks detailed from time to time in the
Company's filings
with the Securities and Exchange Commission.
Contacts:
Charles W. Reed, Exploration Manager, Mexico
520-907-9986
Chris Halkai, Corporate Relations
Toll-free: 1-866-481-2233
613-226-9881
