Part of the Monte Cristo target is located on ground recently acquired from Mexoro Minerals Ltd. Their drilling confirmed economic gold concentrations in east-west trending structures at very shallow depths. Paramount Gold geologists have reinterpreted the Monte Cristo feature as a volcanic basin on the margin of a volcanic dome complex with potential for larger stratigraphic gold occurrences in the basin as well as richer deposits along north-northwest and east-west trending structures. Recent drilling by Paramount Gold on its nearby San Miguel deposit has demonstrated that these north-northwest trending structures host better gold grades at depth. The original Monte Cristo target area of about 300 meters by 400 meters has now been expanded to more than 700 meters by 1,000 meters, reflecting the new drill results, surface mapping and integration of the Mexoro drill data.
Results of Paramount Gold's recent drilling at Monte Cristo are as follows:
----------------------------------------------------------------------- --- Hole No. From (m) To (m) Interval Au g/t Ag g/t -------------------------------------------------------------------------- MC-09-04 120.5 149.5 29.0 0.69 106.1 incl.
