Prodigy Gold NL (ASX: PRX) has completed a successful review of historic results of the Tregony Project in Australia’s Northern Territory.
Managing Director, Matt Briggs, said the review further enhances the company’s view of the project and has highlighted additional drill targets for the next field season.
Review work has been completed in parallel to undertaking diamond drilling on the project. A 210.7m diamond hole (TRDD2101) was recently completed which intersected several intervals of veining with one containing visible gold. Assay results of the diamond hole are imminent.
“The Hyperion Project includes the existing resource at Hyperion and a historic discovery at Tregony, 25km to the north,” Mr Briggs said.
“The projects, along with the Central Tanami JV Groundrush and Crusade Deposits, are located adjacent to the regionally significant Suplejack Fault.
“The previous owners of the Tregony Deposit were challenged for funding under a low gold price resulting in Prodigy Gold being able to acquire the project.”
“Gold was identified for over 4km of strike at Tregony in aircore and RAB drilling. There are only a few sections with RC and diamond drilling. Relogging of the historical data by the company geologists this year produced a new geological model for the Tregony Deposit.
“A review of historic data identified drillholes that were entered incorrectly into the Company’s database at acquisition, some of which were previously thought to be barren. Corrections to the database have resulted in increases and decreases in thickness and grade when compared to results in the acquisition database.
“Overall there has been a substantial increase in linear grades (interval thickness x grade) above the 0.5g/t cut off. An extreme example of the change is RAB hole TGAR0033 previously documented as 4m @ 0.5/t Au from 35m now is re-reported as 9m @ 4.4g/t Au from 30m. The previous errors occurred in ppb to ppm conversions, subsequent assays of metre samples for composites not being entered, assays not being loaded, fire assays of leachwell tails being entered as primary assays, and holes not being entered into the database.
“The data has now been validated and significant corrections were made. Historical results confirm the high grade intercepts and support the interpreted stacked vein system. The database contains 23 intersections of over 30 gram metres in at least four distinct shoots over 10kms of strike.
The new geological model, reinforced by updated historical results and the visual gold in intercepts in the recent diamond hole, clearly demonstrates the potential of the system to extend under shallow sandstone cover, and beneath the shallow RAB drilling and warrants further RC and diamond drilling.”
Tregony Deposit – Previous work Tregony is a structurally controlled vein-hosted gold deposit within the Hyperion Project, located 30km northwest of the Company’s 100% owned Hyperion 4.93Mt @ 1.95g/t 310koz gold resource1 and 40km north of Northern Star’s 1.1Moz Groundrush Resource.
The last systematic exploration to occur over the Tregony Project was completed by AngloGold Ashanti (AGA) and Acacia Resources between 1995 – 2000, following up on work (soils, rock chip and limited post hole campaigns) completed by Messenger and Dominion Mining in the early 1990’s. AGA discovered the Tregony Deposit and identified the Boco, Thomas, PHD, Five Mile, Maly, Montague Duck, and Trucks Prospects. Ord River Resources conducted limited exploration at the Tregony Deposit between 2004 and 2012. In 2012 Ord drilled 12 RCD holes. Analysis of soil sampling indicates that the majority have been ineffective at screening areas that are covered by shallow aeolian sand cover, drainage, Cambrian Plateau basalts or the post mineralisation Suplejack sandstone. The shallow cover (aeolian sand, paleo-drainage) has masked the underlying rocks, resulting in zero anomalism and thus have not been followed up with drilling. Historic drilling only followed up where soil samples returned anomalous results
. Large areas of Suplejack North remain effectively untested, despite the presence of favourable lithological units. Only 32% of total historical holes drilled to a depth >30m. Of those holes >30m, 15% were drilled at Tregony alone (excluding follow up RC and diamond drilling) and ~65% were drilled along strike from Tregony. Much of the drilling directly to the south and west of Tregony failed to drill through the shallow Cambrian cover to test the underlying stratigraphic unit, with the majority of drilling.
Prodigy Gold has a unique greenfields and brownfields exploration portfolio in the proven multimillion-ounce Tanami Gold Province. Prodigy Gold remains highly active in its systematic exploration approach and following the removal of COVID-19 restrictions intends to continue exploration prioritising on: · drilling targets on its Tanami Projects · a scoping study on the Buccaneer Resource · systematic evaluation of high potential early stage targets · joint ventures to expedite discovery on other targets
For further information please visit: https://www.prodigygold.com.au/
