Para Resources Pours First Dore at Gold Road Mine, Arizona
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Para Resources Inc. has successfully smelted and poured a 380.0 ounce doré bar containing 220.8 ounces of gold at the Gold Road Project.
“The production of a doré bar is a significant milestone for Gold Road, confirming the production cycle from mine to bar can be completed successfully. The doré bar and in-circuit inventory balances with the last nine days run of the Gold Road Mill,” said Ian Harris, president of Para Resources.
“We look forward to increasing bar size now that plant in-process inventory has been established, and mine continues to add additional mining faces and convert to stope mining, which will produce higher grades due to lower dilution,” added Harris.
The company also said that the first of two Alimak machines have been delivered to the site and will be installed this month. The second Alimak is scheduled to be installed in early Q1 2020. The Alimaks will open two new production raises that will give the mine access to the higher-grade material and improve airflow to the lowest levels of the mine.
The company expects to produce a doré bar 2-3 times per month, ramping up to 2,500-3,000 ounces of Au per month during Q1 2020.
About Para Resources
Para Resources Inc. is a junior gold mining and exploration company. The company owns two projects that both include existing or near-term mining and milling operations as well as highly prospective exploration properties. The company has acquired fully permitted mines and facilities with adjacent properties that have either been past producers or where there is an abundance of small artisanal miners, dramatically reducing the exploration risk. It is anticipated that the operating mines will be profitable in the short term, providing a return on capital, as stand-alone entities and funding regional exploration to build out resources.
Para is unique in that the Insiders have invested more than US$30 million of their capital and own approximately 70 percent of the company’s equity.
Para’s management team is seasoned and proven, having discovered, built, managed and sold several different mines over the last 40 years. The company has two major projects: The Gold Road Mine in Arizona, USA and the El Limon Mine in Zaragoza, Colombia.
To stop by Para Resources’ website, CLICK HERE
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