Prodigy Gold Reports Updated Hyperion Gold Deposit MRE
THE DRILL SERGEANT: Prodigy Gold (ASX: PRX) released an updated Mineral Resource Estimate (MRE) for its 100 per cent-owned Hyperion gold deposit within the company’s Tanami North project in the Northern Territory.
Prodigy Gold reported a total MRE of 8.64 million tonnes at 1.5 grams per tonne gold for 407,000 ounces at a cut-off grade of 0.6g/t gold.
The company said the update represents an increase in ounces from the previously reported Hyperion MRE of 4.4 million tonnes at 2.2g/t gold for 314,000 ounces that was reported at a lower cut-off of 0.7g/t gold.
Prodigy explained the Tanami North project area is emerging as a strategically important project for the company and is to be the main focus of its exploration activities during the 2024 field season with drilling planned for both the Hyperion and Tregony deposits.
This will include drilling at Hyperion that is designed to provide additional sample material from different mineralised structures for further metallurgical testwork.
“The Hyperion deposit is one of Prodigy Gold’s most strategically important projects,” Prodigy Gold managing director Mark Edwards said in the company’s ASX announcement.
“It was a focus of exploration activities in 2023 with 19 holes drilled around the Hyperion exploration lease with 14 of these holes, for 1,674 metres, drilled into the Hyperion Mineral Resource itself.
“The work completed highlights that the Hyperion deposit is now reaching a size that warrants consideration for future development.
“While this Mineral Resource update has yielded more tonnes at lower grade, this update represents a better understanding of the deposit.
“The wireframing has been completed including lower grade material, with this update using a lower cut-off level of 0.3g/t gold compared to the lower cut-off level of 0.5g/t gold used in the 2018 model.
“This means the underlying higher-grade material of the updated Resource…is still present at a cut-off grade of 1.1g/t gold.
“This compares well with the tonnes and grade previously reported in 2018.”
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