Para Resources Commences Mining at Gold Road Underground Mine, Arizona
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Para Resources has has commenced underground mining at the company’s Gold Road Mine in Oatman, Arizona. The initial plant production target is 250 TPD, ramping up to full capacity of 500 TPD in Q2 2019. Mineralized rock is being stockpiled on the patio at the mill site. The mill will begin operations by the middle of February and first pour is expected before the end of the month.
“Mining at the 4158 stope, the first operational production face, is a significant step forward for Gold Road. With the plant preparing for restart, our contractor ramping up operations, and a world-class team led by Gold Road general manager, Ken Kins, we look forward to the first production of doré and to incrementally increasing production. Achieving the full production capacity of the Gold Road Mine is fundamental to our strategy of unlocking the full potential of the entire Oatman district,” said Ian Harris, president.
In addition, planning and geological work has begun to design the anticipated drilling program on the adjacent TR-UE vein which is expected to begin in 2019. The TR-UE vein is 1.5 kilometers away from the Gold Road mill, over a paved road. More than 1.3 million ounces of gold were produced from the TR-UE vein from 1890 - 1942 when mining ceased due to the USA entering the second World War.
About Para Resources
Para Resources Inc. is a junior gold mining and exploration company. The company owns two projects in that couple areas of highly prospective exploration potential with an existing mining and milling operation that can generate cash flow to support an exploration program. Purchasing existing and fully permitted mines and facilities dramatically reduces the exploration risk as the small mining operations are profitable and provide excellent returns as a stand-alone entity. This is a unique approach to developing “world class” assets. In addition, Para is unique in that the Insiders have invested more than $20 million of their own capital and own approximately 70 percent of the equity.
To stop by Para Resources’ website, CLICK HERE
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