Wednesday, 14th December 2005 (2990 views)

Paramount Gold Corporation has been exploring a low-grade gold deposit on the Linda property in South Peru.

To date, 90 samples have been collected and 28 per cent of them have returned gold values greater than 300 ppb gold, while ten per cent of them returned values greater than one g/t gold.

"We are very encouraged with these preliminary results as we now have a better understanding of the nature and the control of the mineralization on Linda," commented Paramount Gold's manager of exploration for South Amercia, Alain Vachon.

He said that the company was undertaking a three-dimensional Induced Polarisation survey in order to explore the gold source at depth, in addition to investigating its horizontal extension.

The Linda property contains six mining concessions and various mining companies are currently exploring it.

Paramount Gold aims to start a drilling programme at the beginning of 2006, subject to preparing the necessary permits.

 

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