A New Discovery of Paramount Importancehttp://www.fool.com/investing/small-cap/2010/12/09/a-new-discovery-of-paramount-importance.aspx Christopher Barker
December 9, 2010
From Ferdinand Magellan to Neil Armstrong, the sagas of legendary explorers are routinely condensed into a timeline of fateful achievements. For small-cap gold explorer Paramount Gold (AMEX: PZG ) , this is one of those defining moments.
Within the same Sierra Madre Occidental silver and gold belt in Mexico that hosts some of the industry's most exciting discoveries, Paramount Gold has delivered on its niche strategy of developing prospective properties in the vicinity of proven lodes that support existing mines. With a fresh new discovery at its San Miguel property, Paramount has not only created the promise of substantial resource expansion right in Coeur d'Alene Mines' (NYSE: CDE ) backyard, but it claims to have struck a direct extension of the Palmarejo geological structure that hosts Coeur's world-class mine of the same name.
Before we delve into the particulars, we need to establish some context. San Miguel is located within a concentration of gold and silver mines that include Goldcorp's (NYSE: GG ) El Sauzal mine to the south, and Minefinders (AMEX: