Prodigy Gold Drills Higher-Grade Hyperion Intercepts

THE DRILL SERGEANT: Prodigy Gold (ASX: PRX) reported receipt of all results for a reverse circulation (RC) drilling program completed at the Hyperion deposit, part of the company’s Tanami North project in the Northern Territory.

Prodigy Gold completed drilling of the RC program at Hyperion in August, which was designed as a two part program.

The first part was planned to improve the company’s confidence and potentially increase the metal inventory of the Hyperion mineral resource, which has not been updated since July 2018.

The second part of the program was designed to follow up on surface sampling results at the recently re-mapped Brokenwood, Stoney Ridge and Laydown prospects with exploration holes completed to test the potential for mineralisation in these areas.

The company explained the results returned several intercepts based on a 0.5g/t gold cut-off, including higher-grade highlights of:

HYRC2305A
40 metres at 6.2 grams per tonne gold from 60m (Estimated True Width (ETW) of 26m);

HYRC23010
6m at 8.1g/t gold from 98m (ETW of 2m); and

HYP23_068
4m at 3.1g/t gold from 62m (ETW 3.2m).

“The recently received results from the Hyperion RC drilling are providing confidence in Prodigy Gold’s strategy to focus efforts on the Tanami North project area,” Prodigy Gold managing director Mark Edwards said in the company’s ASX announcement.

“Not only has this recent drilling added more information to the Hyperion mineral resource but it has also highlighted the potential for new discoveries with the success of the holes drilled at the Brokenwood prospect, some 7km south of the Hyperion mineral resource.

“This has highlighted that there is still potential for further discoveries in and around existing resources in the Tanami North project area.

“The holes designed to drill-test the north-south trending Seuss structure, which is part of the Hyperion mineral resource, have yielded higher grade mineralisation within a wide mineralised envelop.

“More drilling will be designed to test the significance of this structure, as the grades and widths seen in this program are considered of critical importance to the overall Hyperion mineral resource.

“Additional drilling will also be required to fully understand the potential of the Brokenwood prospect, and planning will now progress to design holes to further test this mineralised structure, as the company’s understanding of the vein orientation has significantly grown based on these exciting new results.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE