Paramount Gold and Silver Climbs 2% on San Miguel Project Update


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Paramount Gold and Silver Corp. ( PZG ) 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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This article appears in: Investing , Commodities

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