SYDNEY (Yosefardi) – Paramount Mining Corporation Limited (PCP) has appointed the Drill Corp Group of Companies (Drillcorp) to carry out 4,000m diamond drilling program at the Gunung Rosa high grade gold, silver and base metals project in Indonesia.
Drillcorp is mobilising a diamond rig this week and the program is expected to commence early next week. The aim of the program is to increase the confidence in the existing 634koz gold Resource and to test the strike and depth extensions of the ore body to the north and south.
At this point in time if is expected that the drilling program will be seventeen holes and will be completed over the next three to four months.
Gunung Rosa is located 125km south of Jakarta in West Java. This project is the flagship project for Paramount and the company presently holds a controlling 72.25% equity interest. The project has a 20 year mining permit, issued in 2010.