VALE — Paramount Gold Nevada Corp officials have reported that a new survey recently completed at its Frost Project has confirmed “high value” gold targets that back up previous surveys and surface mapping.
The Frost location, south of Harper (according to a map), is about 12 miles west of Grassy Mountain where Paramount is in the last stages of a permitting process to operate an underground gold mine.
According to a company news release the survey found signs of structural corridor hosting historical high-grade gold drill intercepts and, based on the survey results, Paramount staked additional claims at Frost.
“Frost is in a favourable geological setting strikingly similar to the Grassy Mountain deposit and is located within trucking distance to our proposed mine and mill operation,” wrote Paramount CEO Glen Van Treek in a statement. “We think Frost has the potential to add valuable mine life to our Grassy project.”
Paramount Gold Nevada is a precious metals exploration and development company that is the sole owner of the Grassy Mountain Project in Malheur County, the company news release reads. While the whole project consists of about 11,000 acres on private land as well as land managed by the Bureau of Land Management, the gold-silver deposit is entirely on private land.