What Paragon Geochemical Laboratories does

Paragon Geochemical Laboratories is a Nevada-incorporated commercial geochemical testing laboratory founded in 2019 in Sparks, Nevada, providing sample preparation and analytical services to the mining and mineral exploration industries. The company serves clients ranging from junior exploration companies running drill programs to global mining producers requiring grade-control assay work, with operational presence in Sparks, Nevada (ISO/IEC 17025:2017 accredited headquarters), Hamilton, Ontario, and Surrey, British Columbia. Its service portfolio spans sample preparation (drying, crushing, splitting, pulverizing), classical fire assay for precious metals, geochemistry via ICP-OES/ICP-MS, carbon/sulfur analysis, and design-build-operate on-site laboratory services for operating mines.

The company's technical differentiation centers on a partnership with Chrysos Corporation to operate PhotonAssay™ units, a non-destructive gamma-ray/X-ray activation method that quantifies gold, silver, and copper in under three minutes on approximately 500g samples — versus 3-4 hours for fire assay on 10-50g samples — while eliminating hazardous reagents and reducing CO₂ emissions per sample by up to 50%. The lab also offers Quantitative Core Scanning (announced), combining high-resolution imaging with XRD and XRF for mineralogical analysis without sample preparation. Paragon was acquired in June 2023 by Britannia Mining Solutions Inc. (BMS), a subsidiary of Britannia Life Sciences Inc. (CSE: BLAB) backed by mining-sector investors including Eric Sprott, Tony Makuch, and Dr. Quinton Hennigh; in November 2025, McEwen Inc. acquired a 31% strategic equity interest for C$15.3 million, becoming Paragon's largest shareholder with board representation and signaling support for a potential future public listing.

Name

Paragon Geochemical Laboratories

Legal name

Paragon Geochemical Laboratories Inc.

Website

https://paragongeochem.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Paragon Geochemical Laboratories is an ISO 17025-accredited commercial assay lab in Sparks, Nevada providing sample preparation, fire assay, PhotonAssay™, geochemistry, and on-site laboratory services to junior explorers and global mining producers across North America.

Ownership category

akta.pro rank

Product category

Mining Laboratory Services

NAICS

Testing Laboratories and Services (54138), Testing Laboratories and Services (541380)

SIC

Services-Testing Laboratories (8734), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industry

Laboratory Testing & Analytical Services (in-house/contract labs; microbiology, metals, organics) (EUANAJAB)

Keywords

• Geochemical laboratory services
• Sample preparation services
• Fire assay analysis
• Mining assay services
• Mineral analysis laboratory

Headquarters

HQ city

Sparks

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Analytical Testing Services: Paragon provides sample preparation and analytical services to the mining industry including fire assay, PhotonAssay™, geochemistry, and carbon/sulfur analysis. Revenue is generated through per-sample fees for analytical testing services. The company offers a rate book with pricing for various services.
2. On-Site Laboratory Services: Design, construction and management of custom-built laboratory facilities at client mining operations. Services tailored to individual client requirements for grade control and processing sample turnaround.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Paragon Geochemical Laboratories is a commercial geochemical testing laboratory providing sample preparation and analytical services to the mining and exploration industries. From its ISO 17025:2017 accredited facility in Sparks, Nevada, the company performs Fire Assay, PhotonAssay™, multi-element geochemistry (ICP-OES/ICP-MS), carbon/sulfur analysis, and on-site laboratory deployment for grade control at operating mines.

Product overview

Paragon Geochemical Laboratories operates as a mid-size provider of commercial assay lab services offering a comprehensive suite of geochemical laboratory services for the mining industry. The company provides sample preparation services (drying, crushing, splitting, pulverizing) and multiple analytical methods including Fire Assay for precious metals analysis, PhotonAssay™ (in partnership with Chrysos Corporation) for rapid non-destructive gold/silver/copper assays, Geochemistry using ICP-OES/ICP-MS instruments, and Carbon/Sulfur Analysis. Additional services include On-Site Services for dedicated mining site laboratories. The company was acquired by Britannia Mining Solutions in 2023 and operates from its flagship facility in Sparks, Nevada.

Differentiator

Problem solved

Functional benefit

Products and services

• Sample Preparation Comprehensive sample preparation including drying, two-stage crushing to nominal 2mm, riffle splitting, and pulverizing to greater than 85% -75 microns using ring mill or Bico plate pulverizers, with unlimited sample storage.
• PhotonAssay™ Rapid, accurate, non-destructive analytical service using gamma ray activation and high-energy X-rays to atomically quantify gold, silver, and copper in geological and process samples, delivering results in under 3 minutes on approximately 500g samples.
• Fire Assay Classical precious metals quantification technique using lead flux or nickel sulfide collection, with samples fused at over 1000°C and precious metal beads analyzed by gravimetric, AA, or ICP methods for gold, silver, and platinum group metals.
• Geochemistry Multi-element geochemical analytical services including cyanidation, carbon/sulfur analysis, mercury analysis, and multi-element packages, using FAAS, ICP-OES, ICP-MS, and elemental analyzers for exploration, mine production, mineral processing, and shipping exchange analysis.
• Carbon/Sulfur Analysis

Quantifiable outcome

• Sample turnaround time reduced from 3-4 hours (fire assay) to under 3 minutes (PhotonAssay™)
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered flagship, core and minor.

• Britannia Mining Solutions Inc. (BMS)flagshipStrategic or Co-development Partner · 5 June 2023BMS acquired 100% of Paragon Geochemical Laboratories in June 2023. BMS is a partially owned subsidiary of Britannia Life Sciences Inc. (CSE: BLAB). BMS is supported by investors including Eric Sprott, Tony Makuch, and Dr. Quinton Hennigh. The acquisition accelerates BMS's entry into the minerals assay market.
• Chrysos CorporationcoreTechnology or IntegrationPartnership with Chrysos Corporation for PhotonAssay™ technology. Paragon operates Chrysos PhotonAssay™ units under license, providing cutting-edge, environmentally friendly assay technology for gold, silver, and copper analysis. The technology offers results in under 3 minutes and is non-destructive.
• Bennett Jones LLP and Dorsey & Whitney LLPminorImplementation/ SI/ Consulting PartnerLegal counsel to Britannia for the acquisition of Paragon Geochemical Laboratories.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• ALS Limited: ALS is a global testing, inspection, and certification company with a large Geochemistry division offering mineral assay, geochemical analysis, and metallurgical services to mining clients worldwide. Highly comparable as Paragon's most direct global competitor in commercial mining assay services.
• Bureau Veritas: Bureau Veritas operates a Commodity Testing business line covering minerals, metals, and agricultural commodities, with geochemical and assay services for mining clients. It competes directly with Paragon for mining exploration and production assay contracts globally.
• SGS SA: SGS operates one of the world's largest networks of minerals laboratories, providing geochemical analysis, fire assay, and metallurgical testing for mining and exploration clients. BMS Managing Director Shaun Compton previously held executive roles at SGS, underscoring the comparability.
• Intertek Group: Intertek provides minerals and assaying services globally, including sample preparation and analytical testing for the mining sector. The company is a primary competitor to Paragon in commercial geochemical analysis; Compton also held prior executive roles at Intertek.
• Cotecna: Cotecna is a global testing, inspection, and certification company with minerals and mining laboratory capabilities. It is an adjacent incumbent competitor to Paragon in commercial mining assay and inspection services, particularly across emerging mining jurisdictions.

Direct peers

• Activation Laboratories (Actlabs): Actlabs is a Canadian commercial geochemical laboratory offering sample preparation, fire assay, ICP-MS/OES, and a range of analytical services to mining and exploration clients in North America. It is one of the closest direct comparables to Paragon in terms of service mix, customer base, and geography.
• MSALABS: MSALABS is a global provider of geochemical laboratory services to the mining industry, with significant fire assay and PhotonAssay™ capacity. It is a direct competitor in commercial mining assay services and in deploying PhotonAssay™ units in regional hubs.

Emerging players

• Chrysos Corporation: Chrysos developed the PhotonAssay™ technology that Paragon operates under license. It is comparable as the technology provider/partner enabling Paragon's core differentiation, and itself is rolling out PhotonAssay™ units globally via a similar hub-and-spoke model.

Regional players

• Eastern Analytical: Eastern Analytical is a North American commercial laboratory providing geochemical and assay services to the mining and exploration sector. Comparable as a regional competitor serving similar junior and mid-tier mining clients across North America.
• TSL Laboratories (now part of MSALABS): TSL Laboratories was a Saskatchewan-based geochemical lab serving Canadian mining exploration and production clients with sample preparation, fire assay, and ICP analysis. Comparable to Paragon as a regional Canadian mining-focused assay lab prior to its integration into MSALABS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paragon Geochemical Laboratories