Paradigm's key gold and base
metal projects are located in the central and southern Lachlan Fold Belt
(LFB) in the State of New South Wales, Australia - see Figure 1. The
LFB has several world class gold and copper porphyry deposits currently
operating including Cadia Valley, Northparkes, and Cowal.
FIgure 1. Location of Paradigm projects in central NSW, Australia.
Yellow Mountain joint venture
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
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.
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
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.
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.
Figure 2. Geology map of PDM's base metal projects in southern New South Wales
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
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.