Paramount Gold Nevada to Acquire Bald Peak Project, Nevada
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Paramount Gold Nevada has entered into an agreement with Nevada Select Royalty to acquire 100 percent interest in the Bald Peak Project located in Mineral County, Nevada. Nevada Select is a wholly owned subsidiary of Ely Gold Royalties, which was recently acquired by Gold Royalty Corp.
“We are thrilled to expand our portfolio of assets in a cost-effective manner to fuel future growth. This project has excellent gold values at surface but has never been drilled and is in one of the world’s best mining jurisdictions. Bald Peak fits our strategy of applying our team’s technical expertise to de-risk and advance U.S. precious metals assets through the mine development cycle,” said Paramount President and COO, Glen Van Treek.
Bald Peak is a large gold and silver epithermal system with several miles of prospective ground in the prolific, Bodie-Aurora-Borealis district which has produced over 3 million ounces of gold from open pit mines. Gold and silver mineralization is associated with strongly silicified rock in a well-defined 4-mile-long structural system. Surface outcropping has returned rock samples grading over 8 g/T gold. The gold-bearing silicified material exhibits a strong, easy-to-follow resistivity signature.
During due diligence, the Paramount technical team identified an alteration system stretching beyond the Bald Peak property and has staked additional claims extending towards Hecla Mining’s Aurora Mine.
Paramount’s plan is to initiate surface sampling, geological reconnaissance, and a subsequent geophysical survey to map silicification at depth to identify drill targets.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account.
Paramount owns 100 percent of the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain project contains a gold-silver deposit (100 percent located on private land) for which a PFS has been prepared and key permitting milestones accomplished. Additionally, Paramount owns a 100 percent interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares).
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