Paramount Gold Files Preliminary Economic Assessment for San Miguel Project in Mexico

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--Last month, Paramount Gold and Silver Corporation (NYSE:PZG) (Winnemucca, Nevada) presented a preliminary economic assessment (PEA) for its fully owned San Miguel Gold Project in Chihuahua, Mexico. The company plans to conduct a feasibility study in mid-2014, and the mine is expected to begin production in 2017.

The PEA was performed by U.S.-based consulting companies Metal Mining Consultants Incorporated and Mine Development Associates Incorporated. It showed an average grade of 4.5 grams per ton of gold; when operational, it is expected to produce approximately 50,000 ounces per year of gold and 3 million ounces per year of silver.

The initial capital expenditure, estimated at $232 million, includes an open pit and underground mine, a 4,000-ton-per-day grinding circuit and a cyanide-leaching plant, followed by a Merril Crowe circuit to produce doré bars.

Paramount Gold and Silver Corporation is an exploration and development company with fast-growing, multi-million ounce, advanced-stage precious metals projects within the mining-friendly jurisdictions of Nevada (Sleeper Gold Project) and northern Mexico (San Miguel Project).

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