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PARADIGM METALS LIMITED

ASX: PDM

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Paradigm Metals Ltd is a mineral exploration company listed on the Australian Securities Exchange (ASX: PDM). Paradigm is targeting economic gold mineralisation at its exploration projects in the Lachlan Fold Belt of New South Wales. Copper-gold mineralisation is a focus in the Cloncurry region of Queensland.

Paradigm has an option to earn up to a 51% interest in the Yellow Mountain gold project EL 6325, near Condobolin, central New South Wales. Yellow Mountain contains a number of targets prospective for disseminated gold mineralisation which the Company is currently drill testing. An adjacent exploration licence application (Marranoonbah project) is 100% owned by Paradigm and offers additional gold exploration upside.

The Rosedale gold project is located 50km east of Newcrest's Cadia Valley operations and 18km south of the Newmont-Alkane McPhillamys gold discovery in central NSW, which requires further drill testing. The Temora gold project located on the prospective Gilmore Suture will be explored with initial drilling in early 2011.

Paradigm has a base metal sulphide resource at Kangiara, southern New South Wales, which has potential to be significantly expanded with further drilling. This project is a farm-in opportunity for companies seeking prospective base metal projects in NSW. The Company also has a small tungsten (scheelite) resource nearby which it is seeking to divest.

Paradigm is actively exploring several copper-gold prospects in the Cloncurry region. The Toolebuc project is a 50:50 joint venture with Exco Resources Limited. Paradigm is the manager of this project.

Yellow Mountain joint venture - NSW

Paradigm signed an option agreement with Triako Resources and Golden Cross Resources in August 2010 for the right to earn a 51% joint venture interest in the Yellow Mountain gold project (EL 6325) near Condobolin NSW. The project is prospective for disseminated epithermal gold and porphyry style copper-gold deposits. Yellow Mountain contains several gold prospects including Quarry Hill, which is the current exploration focus. At Quarry Hill, a 4 km2 gold anomaly has been defined by surface geochemistry. Past drill results include 16m @ 2.7g/t, 11m @ 1.2g/t and 1m @ 5.3g/t Au. Only a small part of the 4 km2 area has been drilled and there are numerous untested targets.

Kangiara silver-gold and base metals - NSW

The Kangiara project (EL 7273) has potential to host significant base metals and gold associated with polymetallic sulphide mineralisation immediately along strike from the old Kangiara copper - lead mine. Following drilling in 2009, a JORC compliant Indicated and Inferred Mineral Resource was calculated at Kangiara in March 2010, with mineralisation remaining open along strike. A silver-rich oxide cap is being investigated as a potential oxide only operation. The silver-rich cap has minimal overburden, and favourable silver-gold recoveries have been achieved from preliminary metallurgical testwork.

Frogmore copper - NSW

The Frogmore copper project (EL 6590) covers late 19th century copper mines with about 12,000 tonnes smelted on site from ore which graded 10% Cu. Drilling in 2008 encountered strong copper mineralisation as chalcopyrite in chloritic breccia and veins. Potential to significantly expand the mineralised footprint exists with further drilling.

Rosedale gold project - NSW

The Rosedale project is a gold project located 18km from McPhillamys gold project near Blayney NSW. Gold mineralisation has been found over a 2 sq km area in surface samples and air core/RC drill holes.

Tungsten project- NSW

The White Rock tungsten project (EL 6274) contains a JORC Indicated and Inferred Mineral Resource of 260,000 tonnes at 0.7% tungstate, including a high grade zone of 123,000 tonnes at 1.15% WO3. Mineralisation is mostly less than 30m deep, occuring within flat-lying magnetite skarn lenses next to a granite outcrop.

Copper gold projects in Cloncurry region of Queensland, Australia

The Blue Bush project (EPM 15324) is 150km north of Cloncurry, and is prospective for Iron Oxide Copper Gold (IOCG) deposits in Proterozoic rocks beneath shallow cover.

The Toolebuc project east of Cloncurry (EPM 16073) is a 50:50 joint venture with Exco Resources Limited. Copper potential is believed to exist also on this tenement below shallow cover.

Mine For

gold, copper, lead, silver, zinc, tungsten, tin, uranium, molybdenum, vanadium, rare earth elements, rees

Location of operation(s)

Queensland, New South Wales

Address

Suite 202 , 122 Walker Street
NORTH SYDNEY, NSW, AUSTRALIA

Phone

(02) 9955 7130

Email

Website


Last Updated

19/02/2013

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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