Paramount Gold Nevada Corp. (PZG) stock soared 37.97% in the pre-market trading session at the price of $1.09 despite no fundamental development. The last published news was the initial results from the drill program of its Sleeper Gold Project.
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Paramount, located in the United States, is a firm that explores and develops precious metals. The company sells its assets to regular clients and enters joint ventures to operate and construct its account. PZG owns a 100 percent interest in several gold projects, including Frost, Grassy Mountain, Bald Peak, and Sleeper.
PZG Announced Sleeper Gold Project Results
On 23rd February 2022, PZG published testing results from its Sleeper Gold Project. The company has completed the drilling work in conjunction with the re-evaluation and development of its silver and gold resources.
The first stage of drilling had composed of six drilled holes in the eastern direction of the Sleeper pit. The goal is to discover an analog to the high-grade Sleeper vein as these residues exhibit periodicity along strike or with parallel structures. A second objective was to design a plan to manipulate high-grade sulphide material left by the prior operator.
President and COO of PZG, Glen Van Treek, remarked that this step is just the initiation of their plans at Sleeper. They are working to exploit the potential of this project which extended beyond the actual high-grade pit. The resource model confirmation of West Wood with initial results will enhance the economics and resource grade in the mine plan. The preliminary economic assessment results will disclose by the third quarter of 2022, Glen added.
PZG Frost Project Positive Results
Earlier on 8th February 2022, PZG published favorable results from the drill program of its Frost project located at Grassy Mountain Mine operation. The company has completed 13 reverse circulation drill pits summing 9000 feet to test targets based on sampling, surface geology, and geophysical surveys.