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HIGHLIGHTS
Paradigm has discovered of a wide zone of gold with minor silver mineralisation at Rosedale over a 2km strike. The Rosedale project is located just 50km from Newcrest's Cadia-Ridgeway mine, and 18km from the recent Newmont-Alkane gold discovery at McPhillamys near Bathurst, NSW. See Figure 1.
Highlights of exploration to date include:
- Best drill intersections: 26m @ 0.3g/t Au from 10m, and 13m @ 0.8g/t Au and 20g/t Ag from 100m hosted by volcanic metasediments - still in mineralisation at base of hole.
- Results from a recent RC drill programme at Rosedale indicate an important rock-type control to gold mineralisation focused by a major regional fault. Gold assays up to 0.76g/t gold were returned within a dacite porphyry beneath a sequence of permeable volcanic metasediments.
- Exploration is now concentrating on a 200m x 1000m gold anomalous corridor along strike concentrating on the volcanic metasediments. See Figure 2.
Prospectivity of the Rosedale area is highlighted by Newmont’s recent decision to progress the McPhillamys gold project through to Bankable Feasibility. McPhillamys is just 18km from Rosedale and located adjacent to the same fault.
Similar geological characteristics with McPhillamys include the Silurian volcanic-sedimentary rocks, proximity to a major regional fault, extensive sericite - pyrite - silica alteration, and minimal quartz veining. An associated of gold with low-grade copper is also apparent.
Figure 1. Location of Rosedale EL 7343 on a tenure map for gold and other metals. Tenure map includes granted ELs and EL applications as of 3 March 2010.
Figure 2. Geology map of Rosedale with drill intersections, gold-in-soil anomalies, and targets.
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