Prodigy Gold NL (ASX: PRX) ('Prodigy Gold' or the 'Company')'Company') is pleased to announce progress results from diamond drilling on its projects in the Northern Territory.


KEY POINTS

  • Buccaneer Resource is 10Mt @ 1.8g/t Au for 585koz above a 1g/t cut off
  • Scoping study geotechnical and metallurgical diamond drilling completed to further evaluate a potential low-cost, heap leach processing scenario for the Buccaneer Resource
  • Program of 8 holes for 1,419m of diamond drilling completed
  • Results returned for the first hole include:
    • 7m @ 1.3g/t Au from 36.5m
    • 4m @ 3.4g/t Au from 48m
    • 13.35m @ 3.9g/t Au from 79.7m including 3.3m @ 13.5g/t Au from 79.7m
    • 12m @ 0.9g/t Au from 97.05m
    • 43m of a 120m hole mineralised
  • Aircore drilling recently demonstrated potential for resource extension with mineralisation intersected 150m to the south of the resource.
  • Unsampled historic diamond core containing visible gold at Golden Hind has been sampled and submitted for assay
  • Delays in the laboratory screen fire assays are resulting in delays in reporting of Tregony, Golden Hind, and Buccaneerresults.
  • Results are reported for Reward and PHD diamond drilling

Studies undertaken over the last year have evaluated a heap leach processing scenario for the Buccaneer Deposit. When the type of mineralisation is appropriate, heap leaching is a simple, low- cost process that can result in significant savings in capital expenditure and operating cost, which can significantly improve a project's economics. Deep weathering in the Tanami results in softer weathered rocks, and sulphide is often completely oxidised up to 100m below surface.

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This article includes content from Prodigy Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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