HI!
Noch ist es nicht zu spät auf den Zug aufzusteigen und richtung 10$ zu fahren!
Paramount gestern nachbörslich mit dieser Mega-News!
Hello all;
Paramount hit a new high of 4.17
US today. They also announced application of their drilling permit for the Linda project in Peru…read below.If you have any questions please do not hesitate to contact me.
Paramount Gold Applies for Drilling Permit to Prepare for 2000 Meter Drill Program at the Linda Property, Peru
Monday, January 23, 2006, 4:05 pm ET
Lima, Peru – (BUSINESS WIRE) – January 23, 2006 – Paramount Gold Mining Corp. (OTC:PGDP, Frankfurt:P6G) is pleased to announce that all required documents have been submitted for a drilling permit on the Linda property to the Ministry of Energy and Mines in Peru. Paramount recently signed a definitive agreement with Minera ABX Exploraciones S.A., a subsidiary of Barrick Gold Corporation (NYSE:ABX), to acquire a minimum 51% interest in the Linda.
The company expects to receive its drilling permit in the second week of February
. In the meantime, tenders have been sent to five drilling companies for the preparation of the first 2000 meters of drilling. At the end of 2005, Paramount completed 20.3 km of Induced Polarization and Resistivity survey on the Linda property in order to delineate drilling targets. The surveyed area coincided with the zone where previous surface sampling have returned a wide geochemical anomaly (28% of all samples have returned gold values greater than 0.3 g/t Au; see press release Oct 2005). The survey clearly indicated that no sulphides occur in this system up to a depth of 250 m where some low chargeability was detected and more importantly, that the geochemical anomaly coincides with a high resistivity anomaly. In point of fact, diamond drill hole # 4 that returned 26 m @ 1.5 g/t Au is located at the edge of this anomaly close to the contact between the barren volcanic rocks and the prospective limestones and also is strictly associated with oxide mineralization. On line 500 N, the anomaly to be tested is at least 500 m long. In general, the resistivity anomaly reflects very well the area mapped on surface as occupied by silicified rocks and the anomaly increases in intensity as being better developed at depth, between the 50 and 200m which may be interpreted as an increasing of the silicification.
Alain Vachon, Manager of Exploration, South America, commented: “I am very pleased to see such concordance between the results obtained from the geological mapping and sampling and the geophysical work. If the association between silicification and gold mineralization appears to be right, the mineralization such in the case of hole 4 will continue and improve at depth. The area that we have to target is quite large (800 m x 1.2 km) and the first drilling campaign of 2000 meters will focus on zones where high resistivity coincide with mineralized structures that returned better grades on surface ”
About the Linda Property
The property is comprised of six mining concessions totalling 4,500 hectares in an area currently being explored by numerous several junior and major companies.
Previous work carried out on the Property led to the discovery of a kilometric low grade gold system within Cretaceous sedimentary rocks including more particularly limestone and calcareous siltstone. In Paramount’s view, the system may be suitable for hosting a low grade, large tonnage heap leached deposit.
Previously detailed sampling conducted by ABX and Horschild (chip and channel) was completed over an area covering approximately 1.5 km x 1.0 km. A total of 928 surface samples were collected, of which 263 (28%) returned gold values greater than 300 ppb (0.3 g/t) Au, including 169 with values greater than 500 (0.5 g/t) and, 59 with values greater than 1000 ppb (1 g/t) Au. Of note, the arithmetic average of these 263 samples stands at 0.93 g/t Au. Paramount believes that this value compares very well with head grades of several large gold mines in Peru. A very limited drill program was completed in 1999, consisting of eight shallow holes on the property: Four holes cut oxide gold mineralization with a high value of 1.5 g/t Au over 26 m in hole # four.
About Paramount Gold
Paramount Gold Mining Corp. is a precious metals exploration and development company. It is management`s objective to grow Paramount into a significant gold and precious metals producer by developing the San Miguel and Linda projects in Mexico and Peru, and by acquiring other advanced-stage projects and/or producing mines in the most prolific precious metal districts in the world. The Company trades on the OTC market under the symbol “PGDP” and on the Frankfurt Exchange under the symbol “P6G”. 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).
Contact:
Investor Relations:
Skyline Communications
Tel: 1-613-226-9881
Toll-free: 1-866-481-2233
Or
Haynes Capital Corp.
416-850-2176
pgdp@haynescapitalcorp.com
www.haynescapitalcorp.com
© Copyright Paramount Gold Mining Corp. All rights reserved.
Best regards,
Clinton Joseph
Skyline Communications
T: (613) 226-9881 ext 202
F: (613) 226-5106
C: (613) 862-1495
cjoseph@skylinecommunicationsinc.com
www.skylinecommunicationsinc.com
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also ich denke dass wir anfang feb / ende februar nach den ergebnissen 5$ auf jeden fall erreicht haben werden!
Denkt dran Barrick
ist mit an Board!