The Hyperion drilling program should take approximately 7-10 days to complete. Pic: Getty Images
PRX embarks on resource drilling to increase 8.6Mt Hyperion gold deposit
Mining
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- Prodigy Gold has started a 1,300m RC drilling campaign at the Tanami North project
- 13 holes will be drilled at the Hyperion deposit, focusing on infilling areas to move the resource from inferred to indicated status
- Results are expected to be available within 4-6 weeks from the time when the samples arrive at the laboratory
Special Report: Drilling activities at Prodigy Gold’s Hyperion deposit, within the wider Tanami North project in the NT, have started to evaluate the opportunity for development and expansion of the 407,000oz resource.
Prodigy Gold (ASX:PRX) is planning to drill 1,300m at the Tanami North project – including 13 holes at the Hyperion gold deposit – targeting areas that have previously returned significant aircore drilling results, which were not included in the last resource estimate.
The Hyperion gold deposit is one of the company’s most strategically important assets and was a major focus of exploration activities in 2023 including the drilling of 19 holes around the Hyperion exploration lease with 14 of these holes for 1,674m drilled into the Hyperion resource itself.
It sits within the Suplejack Shear Zone (SSZ) which hosts several known gold resources such as PRX’s Tregony deposit 25km to the north and the Tanami Gold and Northern Star Resources Joint Venture Groundrush and Ripcord deposits to the southwest.
In July, PRX increased tonnes at Hyperion by 96% and ounces by 30% with a new 8.6Mt indicated and inferred resource at 1.5 g/t gold for 407,000oz at a cut-off grade of 0.6 g/t gold.
PRX believes the work completed highlights the Hyperion deposit is now reaching a size that warrants consideration for future development.
Drilling to increase inventory and move resource to ‘indicated’ status
The company has begun further reverse circulation drilling to increase the confidence in the resource from inferred to ‘indicated’ – which supports mine planning – and potentially increase the overall inventory.
A 13-hole program will concentrate on areas that have previously returned significant aircore drilling results and will also include five holes at the Brokenwood prospect to improve geological understanding of the area.
“The company is excited to continue drilling at Hyperion,” PRX managing director Mark Edwards said.
“Once these holes have been completed the rig will mobilise to the Brokenwood and Pandora prospects, which are located around 7km to the south of the Hyperion Deposit, with these holes designed to follow up on the successful drilling completed in 2023.
“Prodigy Gold looks forward to keeping all our investors up to date on the results of these drilling campaigns over the coming months.”
What else?
PRX says two holes will be drilled to provide samples for metallurgical testing from other areas of the Hyperion deposit with previous testing only completed on samples from the Suess lode.
The drilling program should take around 7-10 days and samples will be sent for assaying using a suitable commercial laboratory at the completion of drilling.
Results are expected to be available within 4-6 weeks from the time when the samples arrive at the laboratory.
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.
