Paramount Gold and Silver Corp. (AMEX: PZG) has expanded the target's size and found new, highly prospective bulk mineable styles of gold and silver mineralization on their wholly owned Monte Cristo project. The Monte Cristo project is located in the Palmarejo District of North Central Mexico. The original Monte Cristo target of about 300 meters by 400 meters has been expanded to over 700 meters by 1,000 meters. Results from the recent drilling intersected 12.5m showing 1.52 g/t Au and 109.9 g/t Ag.
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About Paramount Gold and Silver Corp.
Paramount Gold and Silver Corp. (Paramount) is an exploration-stage mining company. The Company is engaged in precious metals exploration in Mexico and in British Columbia, Canada. The Company focuses to explore and develop the San Miguel Project located in the State of Chihuahua, Mexico. During the fiscal year ended June 30, 2009 (fiscal 2009), it started exploratory activities on the Vidette Lake project located in British Columbia, Canada. Through its wholly owned Mexican subsidiary, Paramount Gold de Mexico S.A. de C.V., the Company owns a 100% interest in the San Miguel property. The Company also owns additional mining concessions in the state of Chihuahua, Mexico. In March 2009, the Company acquired all Magnetic Resources Ltd. In March 2009, the Company acquired the outstanding option on the Temoris project.
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