A management team with more than 500 years of combined mining experience Paramount Gold and Silver Corp. is a well financed precious metals exploration company listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE.A) under the symbol "PZG", and quoted on the Deutsche Borse under the symbol "P6G" (WKN: A0HGKQ).
Paramount holds a 100% interest in the San Miguel Project and has completed 47,560 meters of diamond drilling on 213 holes and 3,743 meters of exploration trenching at San Miguel since the summer of 2006. Paramount has recently expanded its land holdings by acquiring a 100% interest in the Temoris Project from Garibaldi Resources; a land package of over 54,000 hectares. Paramount's land package now includes most of the ground surrounding Coeur d'Alene's Trogan project and is in excess of 140,000 hectares.
Further, as part of the recent acquisition of Magnetic Resources Inc., Paramount also acquires title to the underlying concessions forming the Morelos gold and silver project currently optioned to Garibaldi. The Morelos property covers a historic mining area about 25 kilometers southeast of Goldcorp's El Sauzal Mine and 30 kilometers south of Mag Silver's Batopilas project. Should Garibaldi exercise its option, Paramount would receive a $2,000,000 cash payment in April 2010 and a 2% NSR. Finally, Paramount also acquires the 2% NSR held by Magnetic Resources over Garibaldi's Iris project near the Pinos Altos and Ocampo mines.
Paramount's geologic team along is currently evaluating targets on all of their land holdings in the Guazapares Mining District, part of the Sierra Madre gold-silver belt in Chihuahua, Mexico and plan to begin further exploration in May 2009 with a focus in building a 5 to 10 million ounce gold resource. The San Miguel Project - a significant discovery Since Feb 2007, when Paramount initially released their first National Instrument 43-101 compliant mineral resource estimate they have successively increased their resource over 250%. In February 2007 the estimate was 800,000 ounces of Gold Equivalent, then in June 2008 it was upgraded to 1,800,000 ounces of gold equivalent and then most recently in November 2008 the resource increased again to 2,645,000 ounces of Gold equivalent at San Miguel. Paramount is confident that there is tremendous potential to continue resource growth with further drilling. {C}{C}{C}{C}{C}{C}{C}{C}{C}{C}{C}{C} |