Project Overview
The Sleeper gold project is a past-producing open pit gold mine located off a main highway approximately 25 miles northwest of the town of Winnemucca, Nevada and is wholly owned and operated by Paramount Gold Nevada Corp. (“Paramount”). The historic gold mine saw production from AMAX Gold Inc. throughout 1986 to 1996 of over 1.6 million ounces of gold and 2.3 million ounces of silver. Paramount has assembled a district-scale project with significant unexplored gold potential. Sleeper has a land position that includes staked and purchased lands of approximately 44,917 acres stretching south on trend to Newmont Corporation’s Sandman Project.
Current exploration work has proved to be very encouraging, with both recovery and drilling programs returning with excellent results. Recovery tests have resulted in recovery rates as high as 83% in contrast to the PEA average recoveries of 76% to 81%. The exploration program has confirmed the continuity of higher-grade mineralization at West Wood and extension of its current inferred resources, an area fully encapsulated by the Gold Royalty NSR.
Paramount continues to complete its drill exploration program to test several targets identified to bring Sleeper back into production. Paramount is evaluating the advancement of Sleeper’s PEA and additional searching of high-priority targets outside the main resource area through new geophysics programs. Currently an updated PEA is planned to be released in 2023, including the West Wood zone.