Assays Over 100 Grams of Gold per Tonne
November 12, 2015 – Vancouver, British Columbia. Para Resources Inc. (the “Company” or “Para”) (TSXV – “PBR”) (WKN – “A14YF1”) reports that sample preparation methods have been updated due to very high grade assays (over 100 grams gold per tonne) at the El Limon mine in Zaragoza Colombia.
A summary of recent grades from mining at the El Limon mine, as reported by three different laboratories, are summarized in the table below:
As a result of the high grade assays and variability encountered (due to nugget effect) between the various laboratories, El Limon has adopted the following procedure for sampling and assay analysis of high grade material:
The assay results obtained for both fractions and their respective weights will be then used to determine a final value for the grade of the material.
Geoff Hampson, Chairman and CEO of Para Resources, commented:
“We are very pleased to be seeing grades that are considerably greater than our projections. The new sampling techniques ensure that Para is accurately recording and reporting the grades of the material mined at El Limon but are also in a position to quickly and accurately determine the grade of the material being sold to the Mill by the local artisanal miners. The grade analyses from October indicate that there is great variability in the material being mined but that on average the grades are considerably higher than projected. If this trend continues it will have a very positive effect on the cash flow generated by the El Limon Mine.”
El Limon Overview
The El Limon property is located in the northwest part of Colombia near the town of Zaragoza, Antioquia, Colombia and is accessible via both paved highways and gravel roads. The Mine is situated in the wide Zaragoza Gold District which extends south from El Bagre to Segovia and Remedios, all towns with considerable historical alluvium mining and large underground gold mines that have operated for generations. The El Limon claims cover a total area of approximately 277.5 hectares, including 86.4 hectares in RPP No. 12011 and 191.1 hectares in the concession contract No. 620 which is located west of the currently exploited zone. Gold grade at the El Limon mine ranges from 5 grams of gold per tonne to more than 100 grams of gold per tonne; the expected diluted average gold grade is 7-10 grams per tonne. Extremely high-grade mineralization is common in the narrow-vein underground mines in the region.
It is CML’s intention to utilize a portion of any cash generated from mining to drill the El Limon property to expand the number of targeted areas for mining.
Mr. David Bikerman, a Member of the Australian Institute of Geoscientists (MAIG #3558), Mining Engineer, a CP/QP under NI-43-101, has reviewed and approved the scientific and technical information in this press release.
ABOUT PARA RESOURCES:
Para Resources is an exploration-stage gold mining and toll milling company. In addition to its existing properties, Para will continue to take advantage of current market conditions to acquire and develop additional assets that have strong exploration and development potential.
ON BEHALF OF THE BOARD OF DIRECTORS
“C. Geoffrey Hampson”
C. Geoffrey Hampson, Chief Executive Officer and Director
For further information, please contact Andrea Laird: Telephone: 604-398-3227
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