Coincident With Surface Mineralisation Anomalism
Prodigy Gold NL (ASX: PRX) has revealed that the first moving loop electromagnetic (MLEM) survey on the Reynolds Range Project in Australia’s NT has revealed a large, strong electromagnetic (EM) conductor coincident with surface copper, lead, silver, zinc, and gold anomalism.
A diamond drilling programme comprising two holes 600m apart and 400-500m deep has been expedited to test the Scimitar conductor and is expected to get underway later this month.
Managing Director, Matt Briggs, said Prodigy Gold is also planning drill programmes to test a number of other encouraging targets including Falchion and Sabre as part of a comprehensive program to systematically explore the Reynolds Range Project.
“The Scimitar conductor was first recognised in a Tempest EM survey completed several years ago, and recent mapping and ground truthing completed by our team has identified significant outcrops of malachite (copper oxides) and gossans overlying and adjacent to this conductor which is very encouraging. A subsequent ground EM survey has confirmed and further refined the target position of Scimitar,” Mr Briggs said.
“This target has never been effectively drill tested. Modelled conductors do not project to surface and the strongest response starts 240m below surface. Previous grid drilling conducted in the area was typically less than 5m deep with drill lines ending south of the surface projection of the modelled conductor.
“The Reynolds Range Project area is highly prospective for base metal and gold mineralisation, as demonstrated by nearby smaller prospects such as the Reward Deposit which is four km along trend and averaged 11% copper ore.
“We are now expediting diamond drilling to test the large Scimitar conductor and to confirm stratigraphic sequence, and potential structural control.
“Due to the scale of the anomaly footprint additional drilling will likely be required to fully test the anomaly. Gossans extend well beyond the position of the Scimitar conductor, in particular towards the east, and include a combination of copper, lead, zinc, gold and silver.
“Scimitar is the first of several targets to be drilled at Reynolds Range in the coming months. Drilling is also planned to extend the Falchion and Sabre Targets and the Reward Deposit. Results of additional sampling are expected to be received as diamond drilling gets underway at Scimitar.”
The Reynolds Range Project is accessed from the Stuart Highway and is 150km north of Alice Springs. Targets are located between 20km and 120km off the NT highway, railway line (Ghan) and the NT gas pipeline.
Land ownership is a combination of pastoral lease and aboriginal land (ALRA). Prodigy Gold has negotiated access and permits to the land.
