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Prodigy Gold NL
Summary
| Project: | Euro | |
|---|---|---|
| Deposit: | Euro | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/22/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-1-2019: Prodigy Gold NL announces an Exploration/Drilling Update report for its Euro deposit at the Euro project. Drilling results incl. 2m @ 12.0g/t Au from 105m. Prodigy Gold NL (‘Prodigy Gold’) (ASX: PRX) is pleased to report assay results from RC d | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Matt Briggs (Internal) | |
| ABSTRACT: | Prodigy Gold NL (‘Prodigy Gold’) (ASX: PRX) is pleased to report assay results from RC drilling at the Euro JV Project which is part of a farm-in agreement with Newcrest (ASX: 4 July 2018). Newcrest are to sole fund up to $12M over seven years to ultimately earn up to a 75% interest in the project. The project area (‘Euro JV Project’) hosts key targets along strike or parallel to the Trans-Tanami Trend which have seen limited or no previous exploration. Prodigy Gold Managing Director Matt Briggs said: “The first two targets drilled on the Euro JV Project have resulted in broad zones of alteration and encouraging mineralised intersections at the Dune Prospect. Four of the 8 holes intersected zones of 3g/t Au or more. These results are indicative of the style of mineralisation being targeted and warrant follow up drilling. The agreement with Newcrest only commenced 6 months ago and is already generating high quality targets as demonstrated by this program. Diamond drilling is planned at Dune in the first half of the year along with reconnaissance drilling to test other high priority geochemical and geophysical targets.” Two targets have been drilled at the Dune Prospect. The targets have coincident geochemical anomalism and IP geophysical anomalies. Limited previous aircore drilling intersected 3m @ 0.3g/t Au (ASX: 8 November 2018). The recently completed program of 8 holes for a total of 1,466m is the first bedrock drilling into these targets. The holes were not drilled to the planned depth of 300m due to the intersection of water in the holes. The planned diamond program will complete the drilling of the target position. | |
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