The company plans to use the latest drilling results to update the resource. Pic: Getty Images
Prodigy Gold hits gold grading up to 10m @ 15.9g/t in the NT
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- Prodigy Gold returns high grade gold in RC drilling at Hyperion deposit
- Deposit is part of the broader Tanami North project in the NT
- Follow up drilling planned for the 2025 field season
Special Report: Prodigy Gold has snagged some exceptional gold results from drilling at its Hyperion deposit, part of the Tanami North project in the NT. A headline strike of 10m @ 15.9g/t gold will build excitement ahead of a planned resource upgrade.
Hyperion is in the highly prospective but underexplored area situated between the 1.1Moz Groundrush gold deposit and the 94,000oz Crusade gold deposit, both of which form part of the neighbouring Northern Star Resources (ASX:NST)/Tanami Gold NL (ASX:TAM) Central Tanami project.
Notable intercepts from the 17 hole, 1770m RC program include:
- 25m at 2.2g/t from 66m (Hyperion Lode – HYRC24001)
- 33m at 2.6g/t from 49m (Hyperion Lode – HYRC24017A)
- 10m at 15.9g/t from 177m (Tethys Lode – HYRC24004)
- 30m at 2.9g/t from 31m (Tethys Lode – HYRC24006)
- 13m at 4.1g/t from 26m (Tethys Lode – HYRC24013); and
- 4m at 7.7g/t from 87m (Suess Lode – HYRC24004).
Two holes drilled down dip for metallurgical testwork also yielded intercepts of 99m at 2.7g/t from 33m (Hyperion Lode – HYRC24005) and 53m at 2.9g/t from 49m (Tethys Lode – HYRC24009).
Drilling was also completed at the Brokenwood, Pandora and Tregony North prospects for which the company is still awaiting results.
Updating the resource already
The majority of the results are at grades above the estimated grade of the recently released Hyperion resource of 8.64Mt at 1.5g/t gold for 407,000oz at a reporting cut-off grade of 0.6g/t gold.
Prodigy Gold (AX:PRX) managing director Mark Edwards says the results highlight why the company views Hyperion as one of its key projects. They will now be used to update the resource for the deposit.
“These results support the current company strategy focusing on our Tanami North project area and remaining committed to expanding our mineral resource inventory through organic growth,” he said.
“These new results will also provide the company with additional technical information, such as the recovery characteristics of the mineralisation of other lodes at Hyperion through further metallurgical testwork.
“While two holes drilled targeted mineralisation down dip of the Hyperion and Tethys Lodes to provide samples for metallurgical testwork, they also provided the company with confidence in the style of mineralisation at Hyperion.
“The holes have provided information regarding the down dip continuity of mineralisation, which will be used to assist with the updating of the Hyperion resource estimate.”
With drilling now complete for the current field season, the results will be used to assist with the planning of further drilling for the 2025 field season.
Edwards says that will definitely include follow-up drilling close to hole HYRC24004, containing the 10m of mineralisation at close to half an ounce of gold per tonne (15.9g/t gold).
“This is an outstanding result and demonstrates the overall potential of the Hyperion deposit and the nearby areas,” he said.
This article was developed in collaboration with Prodigy Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
