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Prodigy Gold NL
Summary
| Project: | Lake Mackay | |
|---|---|---|
| Deposit: | Grimlock | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel | |
| Date: | 5/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-5-2019: Prodigy Gold NL announces an Exploration/Drilling Update report for its Grimlock deposit at the Lake Mackay project. JV - Drill results incl. 4m @ 0.6% Co, 0.49% Ni from 2m. Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is please | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Doug Winzar (Independence Group NL;Internal) | |
| ABSTRACT: | Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is pleased to advise that it has received results from the first three reverse circulation drill holes (“RC”) completed at the Grimlock Co-Ni Prospect, located within the broader Lake Mackay Project in the Northern Territory. The Lake Mackay Project is held in Joint Venture (“JV”) with Independence Group NL (ASX: IGO) (IGO 70%; PRX 30%). Management Commentary Prodigy Gold’s Managing Director Matt Briggs said: “Results from the first three holes drilled at the Grimlock Prospect are highly encouraging and further validate the high-grade sampling results reported last year which returned values greater than 1.5% Co and 0.5% Ni (see ASX release dated 26 July 2018).” “Importantly, this drilling confirms that Co-Ni mineralisation continues under shallow cover with results of up to 1.86% Co and 0.84% Ni intersected so far. We have since completed a further seven RC holes at Grimlock (Figure 1), to assess the lateral extent of the shallow mineralisation and expect to receive these results shortly.” “The duricrust containing the Co-Ni mineralisation has been identified in several locations around the perimeter of a gabbro-norite intrusion which is part of the Andrew Young Igneous Complex. The shallow, potentially extensive, high grade cobalt mineralisation is of particular interest with the growing demand for cobalt used in batteries.” | |
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