Paramount Gold and Silver Corp. (AMEX:PZG) announced that the company has received assay results from the first ten drill holes finished in the La Veronica area of its San Miguel project. These holes were drilled to test a new area of old workings and attractive surface geochemistry, and tests have confirmed that mineralization persists for at least 70 meters below the surface exposures.

Larry Segerstrom, COO of Paramount Gold and Silver Corp, stated “We are encouraged by the positive results from this first phase of drilling at La Veronica and in particular the presence of higher gold values. Several more holes have been completed and we are looking forward to the results from those holes. This drilling adds a new 400 meter segment of attractive mineralization within the 8 km long main structural zone at San Miguel.”

Before drilling began, Paramount took detailed photos of the entire core. Paramount also took details into account that introduced certified standards, blanks and duplicates into the sample stream to make sure quality control was in place. The qualified person who has reviewed this news release is Dana C. Durgin, M. Sc. Economic Geology.

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