Hot Gold Stocks 2011 - Stocks to Buy - Gold
Stocks - Paramount Gold and
Silver Corp (PZG) - Paramount Gold and Silver Corp. (PZG) recently made my top gold stocks for 2011 list
weeks before the start of 2011 due to the following news.
Paramount Gold Discovers High Grade Strike Extension of Main Palmarejo Mine Vein at San Miguel
- Paramount Gold Discovers High Grade Strike Extension of Main Palmarejo Mine Vein at San Miguel
December 9, 2010, New drilling on the Don Ese
vein target on Paramount Gold and Silver Corp (NYSE/TSX:PZG) San Miguel Project has discovered the south southeast strike
extension of the main Palmarejo structural corridor that hosts Coeur d`Alene Mines (NYSE:CDE) Palmarejo Mine. The structural
corridor is partly obscured by younger volcanic rocks, but new drilling has intersected the target below this cover.
nearly vertical structural zone that is host to the Don Ese vein strikes north northwest towards the Palmarejo Mine.
True width of the Don Ese vein is typically in the range of 10 meters, but locally is up to 19 meters wide. To
date, the mineralized vein has been traced by core drilling for a strike length of 550 meters; the feature remains open down
dip and along strike for at least another 200 meters. Don Ese is a massive quartz vein with textures characteristic
of low sulfidation epithermal deposits, consistent with other vein deposits in the district. The vein cuts and off-sets
both andesite and felsic volcanic units and has several localized dacite intrusions. Follow-up drilling will continue
in the new year to develop resources on this discovery.
Paramount CEO, Christopher Crupi said, "this is the
most significant discovery we have made to date at our San Miguel Project. In the beginning, our huge land position had too
many targets and different target types which needed to be assessed and prioritized. Systematic exploration over the past
two years has enhanced our understanding of the district and we are now reaping the benefits with each drill program; we have
become more focused and effective. Finding this blind target increases our confidence in making additional discoveries."
This news was very positive and caused PZG stock to double in price from $1.50 to $3.00 in a few days. I am
looking for PZG to hit $5-$6 in 2011 if the results from this gold discovery come to fruition.