paradigm shift

Paradigm shifts (from Sydney Morning herald 10th Aug)

Part of the article...



Headed by a well-known geologist, Graham Carman, (Rio Tinto, Savage Resources and Pasminco), Paradigm is a couple of weeks away from punching some holes into its Blue Bush prospect about 130 kilometres north of Cloncurry, north-west Queensland. It is of the so-called iron oxide copper gold-type that gave us Olympic Dam and Prominent Hill.

A geophysical anomaly was partly tested there in 1983 and returned some minor copper mineralisation. But the main geophysical target, 100 metres beneath soft sedimentary cover, remains to be tested.

The unlisted - currently anyway - Northwest Discovery is funding an initial two-hole program to depths of 300 metres to earn a 25 per cent interest in Blue Bush. That is under a broader agreement under which Northwest must spend $725,000 on drilling costs to earn a 50 per cent interest.

Early next month Paradigm also plans to be drilling at its wholly owned Rosedale gold-silver project near Bathurst.

It will be well followed by the punters as it sits 18 kilometres along from the McPhillamys gold discovery of Newmont and Alkane, and is on the same regional fault structure. Earlier work by Paradigm gave it the encouragement to probe deeper at Rosedale to chase the type of increase in widths and grade of mineralisation being encountered in deeper holes at McPhillamys.

Also next month, a drilling program will begin at Paradigm's Kangiara gold and base metal project west of Goulburn. Kangiara, worked by the old-timers early last century, is being pursued for its open-cut potential base and precious metals potential.