PARADIGM METALS LTD ABN 28 102 747 133
ASX Release 13 October 2014Level 1/330 Churchill Avenue
Subiaco, WA 6008
Ph: +61 8 9200-4482
Fax: +61 8 9200-4469
Contact : Anthony Reilly Managing Director Email:info@paradigmmetals.com.au
Website:www.paradigmmetals.com.au
Directors: Anthony Reilly Graham Carman Brian McMaster THE LADIES COPPER PROJECT (PDM 100%)
EPM 19016 and EPM 25366 "the Ladies" is an IOCG style copper-gold project located 70km south west of Cloncurry in northwest Queensland. PDM completed a six (6) hole RC drilling program in the December quarter
2013 with results reported in an ASX release dated 7th January 2014.
There was no field exploration conducted at the Ladies during the quarter. The Company has placed further field exploration and drilling activities at
the Ladies on hold, but is continuing with desk top modelling to further
evaluate the potential of the project.
No work was carried out on EL 6325 Yellow Mountain during the quarter. The company is reviewing its commitment to the future exploration expenditure under the joint venture agreement.
WHITE ROCK (PDM 100%)
No work was carried out on EL 6274 during the quarter.
As announced in ASX release dated 23rd September 2014 the Company has entered into a conditional Tenement Sale Agreement with Strategic Metals Australia Pty Ltd. Upon satisfaction of certain conditions precedent (refer ASX release 23rd September 2014) the Company will receive AUD$140,000 cash on or before the 28th November 2014 and the release of an environmental bond of AUD$10,000.
No work was carried out on EL 6590 during the quarter.
FOUR MILE TANK (PDM 100%)No work was carried out on EPM 18294 during the current quarter.
ASX Symbol: PDM1
CORPORATE Opportunities
The Company continues to review a number of new resource project opportunities both in Australia
and overseas which will complement its current focus on base metals.
The Company has reviewed and initiated reductions in corporate overheads, director's fees and
salaries.
The Company is continuing to seek parties interested in farming in to its remaining non-core base metals and silver project in NSW.
Yours sincerely, Anthony Reilly
Chief Executive Officer
13 October 2014
Email: info@paradigmmetals.com.au
Website: www.paradigmmetals.com.au
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Graham Carman who is a Fellow of the Australasian Institute of Mining and Metallurgy. Dr Carman is a non- executive director of the Company, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr Carman
consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
2
APPENDIX 1 - TENEMENT TABLE
Tenement | Project | Holder | Interest at beginning of quarter | Interest at end of quarter | Location |
EL 6590 | Frogmore | Tungsten NSW Pty Ltd | 100% | 100% | Central NSW |
EL 6274 | White Rock | Tungsten NSW Pty Ltd | 100% | 100% | Central NSW |
EL 6325 | Yellow Mountain | Triako Resources Pty Ltd / Golden Cross Operations Pty Ltd | 30% | 30% | Central NSW |
EPM 18294 | Four Mile Tank | Paradigm Queensland Pty Ltd | 100% | 100% | Queensland |
EPM 19016 EPM25366 | The Ladies The Ladies | Paradigm Queensland Pty Ltd Paradigm Queensland Pty Ltd | 100% - | 100% 100% | Queensland Queensland |
EPM 16073 | Toolebuc JV | Toolebuc Resources Pty Ltd | 50% | 50% | Queensland |
APPENDIX 2 - SUMMARY OF PROJECT EXPENDITURE
Project | Quarter Cash Spend $A'000 |
Frogmore | 3 |
White Rock | 11 |
Yellow Mountain | - |
Four Mile Tank | - |
The Ladies | 29 |
Toolebuc JV | - |
Total | 43 |
3
|
distributed by
|
