THE DRILL SERGEANT: Prodigy Gold (ASX: PRX) has diamond drilling underway at the company’s Reynolds Range project in the Northern Territory.
Prodigy Gold is drilling to follow up the receipt of several high-grade surface sampling results that confirm the presence of a strong gold and base metal anomaly at the Scimitar Target.
The company recently undertook a moving loop EM (MLEM) survey over the Scimitar Target that resulted in detailed mapping that identified evidence of copper mineralisation at surface within a 3km long geochemical anomaly.
“The EM conductor identified in a historic survey was confirmed by the recent ground based moving loop EM survey,” Prodigy Gold managing director Matt Briggs said in the company’s announcement to the ASX.
“Strong geochemical anomalism over a large area has led to us prioritising this target for drilling.
“The initial drilling is designed to intersect the most conductive areas of the modelled EM anomaly.
“Two holes are being drilled 600 metres apart.
“The recent encouraging surface sampling results provide support for a metal mineralising event at Scimitar.
“The first two holes will give insight into the stratigraphy and potential structures in the area along with testing for sulphide related metal mineralisation.
“The drilling of one hole is co-funded by the Northern Territory government as part of the Resourcing the Territory initiative.
“This is the first of a number of targets to be drilled at Reynolds Range in the coming months.
“Drilling is also planned to extend the Falchion and Sabre Targets and the Reward Deposit.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE