VMS RESOURCE: Initial report issues for Paragon’s Lemarchant deposit

NEWFOUNDLAND - Vancouver-based Paragon Minerals has released the first 43-101-compliant resource estimate for the Lemarchant volcanogenic massive sulphide deposit on its South Talley Pond property. The deposit is located 20 km of Teck's Duck Pond mine and mill.

The Lemarchant deposit is defined to a vertical depth of 210 metres, and it remains open both at depth and along strike. The indicated resource is 1.24 million tonnes grading 5.38% Zn, 0.58% Cu, 1.19% Pb, 1.01 g/t Au and 59.17 g/t Ag or 15.40% ZnEq using a 7.5% ZnEq cut-off grade. The inferred portion is another 1.35 million tonnes grading 3.70% Zn, 0.41% Cu,0.86% Pb, 1.00 g/t Au and 50.41 g/t Ag or 11.97% ZnEq.

Paragon also reported that preliminary flotation tests on a composite sample made a concentrate grading 11.6% Cu and 36.8% Pb containing 6.96 g/t Au and 1,695 g/t Ag. A 60.8% Zn concentrate was also produced.

The Lemarchant technical report will be posted at ParagonMinerals.com.