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Thursday, 29th June 2006 (3639 views)

Paramount Mining Corporation has announced that it is to commence testing for the presence of gold on one of its existing diamond sites in Ghana.

The project is the first gold investigation undertaken by the company, which is focused in the main upon diamond exploration.

Paramount's diamond interests occur within a gold-rich area in Ghana, known as the Kibi Gold Belt, in the east of the Osenase Project.

Chief executive at the company Maureren Muggeridge said: "Extensive alluvial gold is found throughout the Kibi Gold Belt, pointing to the probable presence of bedrock gold occurrences.

"The gold investigations will commence with a grid survey over the main gold prospective zone and some flanking areas to detect signs of gold mineralisation, with later fill in sampling as required."

She added that the company hopes to have compiled results for 1,500 geochemical samples taken from a 90-kilometre grid by the end of this year.

 

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