Paramount Mining intercepts up to 41.4g/t gold at Indonesian gold silver project

17-Oct-2011 Intellasia | Proactive Investors Australia | 7:01 AM

Paramount Mining (ASX: PCP) has received assay results that support the presence of high-grade mineralisation at the Gunung Rosa Gold-Silver Project in Indonesia.

Intersections from the first stage of due diligence diamond drilling at Gunung Rosa included:

– 3 metres at 26.55 grams per tonne (g/t) gold, 29.6g/t silver, 0.29 percent zinc and 0.68 percent copper, including 1.5 metres at 31.95g/t gold, 38.65g/t silver, 0.33 percent zinc and 0.68 percent copper and 0.75 metres at 41.4g/t gold, 69.1g/t silver, 0.41 percent zinc and 1.31 percent copper; and

– 3.4 metres at 17.51g/t gold, 39.79g/t silver, 7.07 percent zinc and 0.93 percent copper including 1.6 metres at 34.8g/t gold, 62.75g/t silver, 8.11 percent zinc and 1.21 percent copper.

The drill programme tested the vein system at Cap Palu and the base metal-rich Cisudi section of the vein. The programme has been extended from 6 holes to 12.

Based on the results so far, the company expects an early initiation of trial mining to firm up full scale mining options and installation of a pilot plant for large scale beneficiation testing of ores, subject to satisfactory results from metallurgical testing of bulk samples due to commence shortly.

http://www.proactiveinvestors.com.au/companies/news/20709/paramount-mining-intercepts-up-to-414gt-gold-at-indonesian-gold-silver-project-20709.html