Paramount Gold and Silver Corp. (
) is trading 1.7% higher after reporting results from four
additional holes into the growing La Bavisa target on the company's
100%-owned San Miguel Project in Mexico.
To date, a total of eight drill holes have been completed into
PZG's La Bavisa target, defining a mineralized strike of 1.5 km.
containing intercepts up to 12.20 meters wide grading 1.22 g/T gold
and 255.8 g/T silver.
The company also reported results from the first holes drilled
at another new target known as Barranca Blanca. The three
preliminary holes were drilled to test the structure for precious
metals, returning encouraging values of up to 0.7 g/T of gold and
31.2 g/T of silver. The Barranca Blanca will now be drilled in a
more systematic fashion designed to intersect the optimum
elevations for higher grade material.
PZG is trading at $2.35 in a 52-week range of $1.95 - $2.83.
Shares have fallen 3% in the last 12 months.
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