Message #45 From:
Stock News Bot Date: March 28, 2007 05:00:00 AM
PGDP News 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)--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 and0.80 meters from 106.7 to 107.5 of 199 g/t silver with 1.71% combinedlead/zincSA-16 averaged 12.9 meters from 49.6 to 62.5 of 172 g/t silverincluding 0.8 meters from 49.6 to 50.4 of 362 g/t silverincluding 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 silverincluding 4.3 meters from 45.0 to 49.3 of 218 g/t silverincluding 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 with0.41% combined lead/zincincluding 1.75 meters from 37.0 to 38.75 of 1,294 g/t silverincluding 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 silverincluding 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.
