Paramount reports encouraging results in Gunung Rosa drilling
Tuesday, July 10 2012 - 03:26 AM WIB
ASX-listed Paramount Mining Corporation Limited announced the significantly wider intercepts of gold-copper-base metal mineralization from four additional diamond drill-holes GR00014, GRDO15, GRDO16 and GRDO17 from its ongoing due diligence program at its Gunung Rosa gold-silver-base metal project in West Java Province.
The results continue to build on the very encouraging results from its previous thirteen diamond drill-holes (GRDOO1 to GRDO13) disclosed in the company?s previous announcements.
?These results are a valuable addition to our knowledge of the extent and controls on distribution of mineralization in that they are likely to result in an increase in the inferred mineable resources of gold, silver and base metal mineralization recognized at Gunung Rosa and point to potential to add significantly to inferred resources at depth,? . Paramount?s Chairman Mo Munshi said.
?The variation in grade and intersection widths seen is not unusual in mesothermal and epithermal systems but it is the persistence of wide mineralized intersection widths that is encouraging. Our program of bulk metallurgical and beneficiation testing currently being undertaken in Perth will assist in defining the mineable extent of economic mineralization now being drilled in these zones?.
The four holes infill between drilled vein mineralization to further assess changes in vein widths and grades within the main mineralized ore zone.
The tests on holes GRDOO14 to GRDO16 demonstrate that significantly wider envelopes of mineralization are occurring below Cap Palu. Hole GRDO17 tested a broader section of the base metal-rich Cisudi vein closely beneath historic development drives supporting wider intercepts in that section.
Editing by Adianto P. Simamora