Paramount Gold Nevada has begun an initial assessment (IA) at the Sleeper Gold Project in Humboldt County, Nevada, US.
Conducted under US Securities and Exchange Commission (SEC) S-K 1300 regulations, the assessment will analyse the economic potential of this Paramount-owned, past-producing, high-grade gold mine.
The IA will explore a staged, cost-effective development strategy concentrating solely on heap-leachable material.
This involves approximately 54 million tonnes of economically viable material, including surface material from previously unexamined waste dumps and oxide and mixed in-situ mineralisation suitable for heap leaching.
The strategy could lead to faster cash flow and better project economics, enhancing previous assessments primarily focused on in-situ resources.
It also aims to aid in planning and evaluating possible expansion efforts.
The company is also proceeding with permitting processes for infill drilling at Sleeper, targeting surface materials to potentially inform future feasibility studies.
SLR International has been engaged to conduct the study, leveraging its expertise, particularly in leach kinetics.
SLR's activity on-site also supports ongoing monitoring and reclamation efforts.
Parallel to the Sleeper project, Paramount is advancing final permitting and feasibility activities at the Grassy Mountain Project, aiming to advance these key projects concurrently.
The IA is due to be completed by late in the second quarter of 2026, marking a significant step in evaluating development opportunities at Sleeper.
Paramount CEO Rachel Goldman said: “Following our internal review, we believe substantial historic data supports an initial assessment of a heap-leach-only operation at Sleeper, and we are now progressing the evaluation of development options.
“Sleeper is a large, past-producing asset in a well-established mining jurisdiction with existing infrastructure, and in the current gold price environment, we see a compelling opportunity to unlock value.
“Focusing on the oxidised and transitional material is a logical first step to define the project’s development potential and guide the next phase of work.
“At the same time, we continue to advance our Grassy Mountain Project through final permitting and feasibility activities, positioning the company with two meaningful projects moving forward.”
