High Grade Gold and Silver Results At San Miguel Vein

CHIHUAHUA, MEXICO - Paramount Gold and Silver Corp. reported assay results from its first four drill holes in the San Miguel vein of its San Miguel project, in the Guazapares Mining District, Mexico. Drill holes SM-01 TO SM-04 were drilled 40-50 meters apart and were designed to intercept the previously undrilled San Miguel structure approximately 70 meters below the surface (see map). The San Miguel structure is exposed for at least 1 kilometer and appears to be open along strike to the northwest.
The area in which these four holes were drilled (see map) was selected because of very good grades in 12 surface channel samples across the vein, which averaged 9 meters at 4.22 g/t Au Eq. This area also has several shallow old mine workings, which had high precious metal grades according to local miners. In addition, geologists quite familiar with the nearby Palmarejo deposit have said that the veins here have an appearance virtually identical to those at Palmarejo. The assay results tabulated below support that suggestion. These results are particularly exciting because the ratio of gold to silver is significantly higher than at other portions of the property.
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