Kasperske Hory drilling under way

Drilling is under way at the Kasperske Hory gold project, 80 miles southwest of Prague in the Czech Republic.

Two Vancouver-listed partners — Paramount Ventures & Finance and Royalstar Resources — have acquired an 80% interest and plan, initially, to drill 5,000 ft. underground and 40,000 ft. on surface.

The work is intended to prove up the possible and probable drill-indicated resource of 10.3 million tons grading 0.22 oz. gold per ton. Both companies have completed financings to cover the cost of the estimated $1.5-million program.

In a first for a North American company, Paramount plans to have its shares listed on the Prague Stock Exchange.

The company has prepared and submitted the required documentation and expects to be called for trading in late January or early February.