Paramount Gold and Silver Corp. (NYSE:PZG, AMEX:PZG,TSX:PZG) announced that new drilling at their Sleeper Gold Project shows expansion to the PAD Zone and the prospective South Sleeper area.

As quoted in the press release:

The PAD and South Sleeper drill results are outside the current resource as defined in the PEA and are expected to expand the Sleeper Gold Project’s in-pit resource. Shallow drilling in the northeast portion of the Sleeper mine site under the original heap leach pad (the PAD zone) returned multiple near-surface intercepts well above the PEA cut-off grade including 48.8 meters grading 0.453 g/T gold, 9.1 meters of 0.82 g/T gold and 7.8 g/T silver and 6.7 meters of 0.83 g/T gold.

Paramount’s CEO, Christopher Crupi, said:

With the successful completion of the Sleeper PEA, we are now working to optimize the project’s economics by adding close-in resources at a higher average grade. The Sleeper project is a surprisingly robust project given its low grade, primarily because of its high volumes and low capital costs.

To view the whole press release, click here.