American Company Paramount Gold acquires Nevada gold prospect

American-listed Paramount Gold Nevada has purchased a 100% interest in the Bald Peak project, in Mineral county, Nevada, from a subsidiary of Ely Gold Royalties, which was recently bought by Gold Royalty.
Bald Peak is a large gold and silver epithermal system with several miles of prospective ground in the prolific Bodie-Aurora-Borealis district, which has produced more than three-million ounces of gold from open pit mines.

“This project has excellent gold values at surface, but has never been drilled and is in one of the world’s best mining jurisdictions. Bald Peak fits our strategy of applying our team’s technical expertise to de-risk and advance US precious metals assets through the mine development cycle,” says Paramount president and COO Glen Van Treek.

Paramount’s plan is to initiate surface sampling, geological reconnaissance, and a subsequent geophysical survey to map silicification at depth to identify drill targets.
Paramount has the right to acquire a 100% interest in the Bald Peak project for total consideration of $300 000.