The Company
Business: A company engaged in the acquisition, exploration and
development of natural resource properties.
ARGENTINA
Paramount maintains a strong presence in Argentina where it has an interest in approximately 100,000 hectares. In January 1998 the Company was awarded the mineral rights to the core of the El Alisal property, a porphyry copper/gold/molybdenum prospect. In 1997 the Company completed a 25 hole drill program on the wholly owned copper/silver Juramento property. The drill indicated grades and tonnages are estimated at 11.5 million tons of 0.8% copper and 21.8 g/t silver and an additional resource (geologically inferred) is estimated at 36.7 million tons with the same grade. The resource remains open at depth and along strike.
DIAMONDS
Paramount's Joint Venture partner Canabrava Diamond Corporation will soon start exploration on both the Macap and the North Bahia properties in Brazil. Initial work has begun on the Kap Project, Ontario, where Canabrava is the Operator.
INDONESIA
Paramount is currently reviewing plans for the future of the Gunung Pani Project in North Sulawesi.
OIL AND GAS
Paramount is involved in the exploration for oil and gas in Texas and
Louisiana with interests in two high potential gas prospects.
OTHER
Paramount is also involved in several joint venture diamond exploration projects in Canada with Senior Mining companies who act as operator on these projects. The Company continues to evaluate other acquisitions worldwide. |
