Paradigm also has another potential site in Queensland – Blue Bush – which is "an interesting oxide-copper-gold-uranium project" which had been previously drilled by the old Conzinc Rio Tinto, which some of you will remember as CRA, back in 1983, and which shows similar geology to the old Mary Kathleen.
But the other interesting string to Paradigm's bow is its project at White Rock, 120km south of Orange in NSW. Here Paradigm is sitting on an indicated and referred resource of 150,000t at 0.9% WO3 (which is tungsten oxide to you and I). Grigor notes that the value of the tungsten is roughly equivalent to the combined value of the five times larger Wolfram Camp tungsten and molybdenum project being developed by Queensland Ores.
Paradigm sees potential to lift the White Rock resource to 500,000t or even 1mt which would give it the critical mass to develop a mine. If the project can go to production, Grigor suggests this alone would justify a multiple of the current Paradigm share price.
IOD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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