Para Resources Inc. is pleased to provide an update on operations as follows: Gold Road Gold Road has completed 245 feet of development raise and incline to complete excavation of the new secondary escape route from the lowest levels of the mine as per the Mine Safety Health Administration request. Work continues on lining and landings to finalize this project by the end of August. As advised in June 2019, the new surface [...]
Para Resources Inc. at the request of IIROC is issuing this news release to clarify the disclosure it included in its June 20, 2019 news release. The previous news release omitted to include cautionary language as it relates to the Company's production plans for its projects that are not supported by a preliminary feasibility or feasibility study, and without first establishing mineral reserves, which could result in [...]
Company Also Announces Appointment of New Mine Manager at Gold Road Mine Para Resources Inc. is pleased to provide an update on operations as follows: Gold Road Gold Road received approval from Mine Safety and Health Administration for a new secondary escape route from the lowest levels of the mine. In Q2 of F2019 development advanced 614 ft in mineralized rock and waste with 425 tons of rock containing 39.5 ounces of [...]
Company Also Announces Commencement of Exploration Drilling Para Resources Inc. is pleased to announce that it has closed the Company's previously announced non-brokered private placement . Pursuant to the Offering, the Company has issued 29,591,788 units of the Company at a price of C$0.18 per Unit for gross proceeds to the Company of approximately C$5,326,522. Each Unit consists of one common share of Para and one-half [...]
Para Resources Inc. announces an initial exploration plan for the Tr-Ue Vein near Oatman, Arizona and approximately 1.5 miles from the Gold Road mill and mine. The program, anticipated to begin in May, will start with the first phase of approximately 5 holes totaling 3,750 feet in conjunction with a geophysics program to orient future drilling. The program focuses on the Tr-Ue vein around the historic United Western and [...]
Para Resources Inc. is pleased to announce the successful testing of the full CIP circuit at Gold Road Mine in Oatman, AZ, including a test pour of gold. A forty ounce doré bar was poured on March 11th, 2019 from the initial carbon strips after the entire plant was balanced. The full circuit of mining, crushing, grinding, leaching, electrowinning and smelting has now been fully tested and is operational. The ramp [...]
Para Resources Inc. is pleased to announce the successful re-start of the Gold Road mill and CIL plant. Low-grade inventory is being used for the initial feed in order to properly balance the system. Higher grade production from current mining faces will be fed to the plant once steady state conditions are achieved, expected within several weeks. The full circuit, including crushing, grinding and leaching has been fully [...]
Para Resources Inc. is pleased to announce that it has arranged a non-brokered private placement for total gross proceeds of up to C$5,000,000. The Private Placement will consist of up to 27,777,778 units at a price of C$0.18 per unit . Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant . Each Warrant entitles the holder to acquire one common share of the Company [...]
Para Resources Inc. is pleased to announce that underground mining has commenced at the Company's Gold Road Mine in Oatman, Arizona. The initial plant production target is 250 TPD, ramping up to full capacity of 500 TPD in Q2 2019. Mineralized rock is being stockpiled on the patio at the mill site. The mill will begin operations by the middle of February and first pour is expected before the end of the month. Ian Harris [...]
Para Resources Inc. is pleased to announce that effective January 1, 2019, it has entered into a Final Services Agreement with Clark Construction Group, LLC , a Maryland, limited liability company whereby Clark will provide contract mining services at the Company-owned, Gold Road Mine in Oatman, AZ. The contract transitions from the original "time and materials" contract that was previously announced in November 2018 with [...]
Para Resources Inc. is pleased to announce that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated November 6, 2018, were approved by the requisite majority of votes with 69.7% of eligible votes cast at the Company's Annual General and Special Meeting held on Wednesday, December 19, 2018. Additionally, further to the Company's [...]
Para Resources Inc. is pleased to announce that effective November 7th 2018, it has entered into a Services Agreement with Clark Construction Group, LLC , a Maryland, limited liability company which will provide contract mining services at the Company owned, Gold Road Mine in Oatman, AZ. The contract is initially on a "time and materials" basis but will evolve into a Unit Pricing contract, which is presently being [...]
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