Profile: Paramount Gold and Silver Corp (PZG.A)
14 Mar 2014
Paramount Gold and Silver Corp. (Paramount), incorporated on March 29, 2005, is an exploration stage mining company with projects in northern Nevada and Chihuahua, Mexico. 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 San Miguel Project is located in southwestern Chihuahua in Northern Mexico. The project is about 20 kilometers north of the town of Temoris, adjacent to the village of Guazapares. It is in the Guazapares mining district, which is part of the Sierra Madre Occidental gold-silver belt. The San Miguel project consisted of 17 smaller concessions clustered near Guazapares, Chihuahua with a total area of 427 hectares, plus the much larger Andrea, Gissel and Isabel concessions. On August 23, 2010, the Company acquired X-Cal Resources Ltd. (X-Cal).
The principal asset of X-Cal is the Sleeper Gold Mine located in Humboldt County, Nevada. The Company completed its exploration at the Sleeper Gold Mine in January 2011. The Temoris project forms part of the greater San Miguel project. Magnetic Resources Ltd. (Magnetic) also holds 2% net smelter rotalty (NSR) from production arising from the Iris mineral concessions located in the Municipality of Ocampo in Chihuahua, Mexico. The Morelos Project and the Iris Project are ancillary to its primary business plan. Paramount’s Mexican subsidiary acquired the Guazapares claims from the Mexican subsidiary of Mexoro Minerals. Through its wholly owned Mexican subsidiary, the Company has granted mineral claims, which grant it exploration and exploitation rights.
Sleeper Gold Property
The Sleeper Gold Property is located 26 miles northwest of Winnemucca, Nevada. An office building, heavy equipment enclosure plus assorted equipment are present on the Sleeper Gold Property. Necessary supplies, equipment and services to carry out full sequence exploration and mining development projects are available in Winnemucca, Reno, and Elko, Nevada.
Mill Creek Property
The Mill Creek property comprises a contiguous block of 36 unpatented lode mining claims. The claims total approximately 720 acres and are located in the NW part of the Shoshone Range, 33 kilometers south of Battle Mountain. The Mill Creek property is an early-stage gold exploration prospect.
Reese River Property
The Reese River/Horse Mountain Window Project is located in Lander County, north-central Nevada, approximately 25 miles south of Battle Mountain. The Property lies on the west flank of the Shoshone Range in the Basin and Range Province. The property consists of 148 unpatented lode mining claims that cover an area of approximately 2960 acres.
Spring Valley Property
The Spring Valley property consists of 38 lode mineral claims in the Spring Valley Area, Pershing County, Nevada. The project is located approximately 2.5 kilometers northwest of the Rochester mine in the Humboldt Range, 30 kilometers northeast of Lovelock, Nevada. The property covers rocks folded into a broad anticline broken into blocks by north-trending faults.
Paramount Gold and Silver Corp
665 Anderson Street
Winnemucca NV 89445