Paradigm Metals announced the results of a recent aircore drill program at its 100% owned Kangiara and Democrat projects in New South Wales with strong silver and gold assays in several drill holes.
Three separate prospects were drilled to test the shallow gold and silver potential to the base of oxidation. Gold and silver was returned from the oxide cap above the Kangiara sulphide resource over 260 meters strike length, open to the north.
Hole KAC 008 intersected 18 meters 151 gram per tonne Ag and 0.6 gram per tonne Au from surface including 4 meters 512 gram per tonne Ag and 1.3 gram per tonne Au and hole KAC 002 intersected 7 meters 88 gram per tonne Ag and 1.2 gram per tonne Au from surface.
Potential to significantly increase the oxide and sulphide footprint at Kangiara exists along strike, down plunge and in other untested sub parallel structures.
In total 40 holes were drilled for an advance of 700 meters. Several aircore holes were extended beyond oxide into sulphide mineralization with percussion drilling, but only oxide intercepts are reported here as the partial sulphide intersections do not significantly affect the previous sulphide resource estimates.
The main aims of the aircore drill program were to determine the grade and thickness of gold silver mineralization in the oxide zone above the sulphide resource at Kangiara and to determine the extent of oxide mineralization at Ally’s prospect.
Paradigm said that these aims were achieved. Drilling of three short holes at Kangiara North did not detect any significant oxide mineralization.
Drilling of aircore holes at the Ally’s prospect did not intersect economic grade mineralization. However, a number of holes at the eastern end of the southern drill line returned anomalous Pb+Zn in oxidised rocks. DAC 019 also intersected minor visible galena and sphalerite from 2024 meters.
Potential exists for further oxide mineralization within untested structures highlighted by the magnetic data. The company is assessing these targets and will consider a drill program going forward.
Sulphide potential over and above the current sulphide resource of 2.75 million tonnes 2.3% Zn+Pb, 0.18%Cu, 0.5 gram per tonnes Au, and 24 gram per tonne Ag exists in extensions of the Kangiara mineral resource especially down plunge to the south.
Paradigm announced on March 24th 2010 a maiden JORC Mineral Resource estimate for the Kangiara project as follows: 2.75 million tonnes grading 1.3% zinc, 1.0% lead, 0.2% copper, 0.5 gram per tonne gold and 24 gram per tonne silver. This includes a higher grade resource component of: 1.25 million tonnes grading 1.9% zinc, 1.6% lead, 0.3% copper, 0.75 gram per tonne gold and 36 gram per tonne silver.
(Sourced from Proactiveinvestors.com)
