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Prodigy Gold NL
Summary
| Project: | Bluebush | |
|---|---|---|
| Deposit: | Capstan | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-6-2018: Prodigy Gold NL announces an Exploration/Drilling Update report for its Capstan deposit at the Bluebush project. Drilling results incl. 3m @ 0.88g/t Au from 51m. Prodigy Gold NL (‘Prodigy Gold’ or the ‘Company’) is pleased to announce initial re | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matt Briggs (Internal) | |
| ABSTRACT: | Prodigy Gold NL (‘Prodigy Gold’ or the ‘Company’) is pleased to announce initial results from the Capstan Prospect within the Company’s 100% owned Bluebush Gold Project located in the Tanami Goldfields of the Northern Territory. Follow-up drilling in the first two target areas has defined a broad corridor of gold anomalism 4.5km long and up to 750m wide (Figure 1). Gold results include highlights of Prodigy Gold Managing Director Matt Briggs said: “The results at Capstan are highly encouraging for this early stage of drilling. Multiple gold anomalies up to 4.5 kilometres long with clear similarities to Newmont Mining’s 13Moz Callie Deposit which is hosted in the same rocks and a similar structural setting. The best results have been intersected within the lower Dead Bullock Formation which are also the host rocks of the Federation and Auron lodes at Callie. “As we narrow the drill spacing we are seeing an increase in the grades intersected and a large scale gold system being revealed. Based on these positive results we plan to accelerate work at Capstan by commencing diamond drilling in the September Quarter 2018 in parallel to an infill aircore program.” Background Capstan is a 22km x 8km sub-area of the Bluebush Project, falling within the Trans-Tanami Fault Zone located 50km north west of the world-class Callie Gold Mine (Figure 2). The interpreted folding and faulting complexity and geochemical anomalism of the Dead Bullock Formation (host rocks of Callie) highlight the prospectivity of the area. Numerous structures have been interpreted at Capstan with associated soil and shallow drilling anomalism. Approximately 50% of Capstan is undercover and surface sampling has only been effective in very limited areas in the north and south of the prospect. | |
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