Paramount starts drilling at Frost
US-based explorer and developer Paramount Gold Nevada has initiated a drill programme at its Frost project, about 20 km south-west of the high-grade Grassy Mountain gold project in Eastern Oregon.
Paramount president and COO Glen van Treek says that the Frost property is a very close analog to the Grassy Mountain high grade deposit now in the final stages of permitting.
“We are extremely excited to drill Frost. Discovering a deposit so close to our proposed mine would extend mine life and substantially improve overall project economics. We have carefully assembled a strong set of data confirming the key characteristics we would like to see in a drill target and the structures have the potential size to host a significant addition to reserves.”
The first phase of drilling will be a 15-hole reverse circulation programme of about 2.7 km in total. The programme is designed to test prospective targets related to interpreted silicification, and structures identified by the Paramount team based upon historic assays, field mapping and geophysical surveys. Historic drilling completed in the early 1990s intersected up to 25 g/t of gold and 27 g/t of silver.
The short distance between Frost and Paramount’s proposed Grassy Mountain gold mine presents a significant opportunity for the company to increase mine life as economic mineralised material would be trucked as mill feed to the Grassy processing facility.
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