Exceptional Drilling Results Returned From Hyperion Gold Deposit

By Finance News On Oct 21, 2024

Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is excited to announce the receipt of all results for the Reverse Circulation (“RC”) drilling program completed during September at the Hyperion Gold Deposit (“Hyperion”), which forms part of the Company’s strategically important Tanami North Project in the Northern Territory (Figure 1).

HIGHLIGHTS

Exceptional results returned from the Reverse Circulation drilling campaign completed at the Hyperion Gold Deposit.
Intercepts received include highlights:
- Hyperion Lode
  - 25m @ 2.2g/t Au from 66m in hole HYRC24001
  - 33m @ 2.6g/t Au from 49m in hole HYRC24017A
- Tethys Lode
  - 10m @ 15.9g/t Au from 177m in hole HYRC24004
  - 30m @ 2.9g/t Au from 31m in hole HYRC24006
  - 13m @ 4.1g/t Au from 26m in hole HYRC24013
- Suess Lode
  - 4m @ 7.7g/t Au from 87m in hole HYRC24004
Two holes drilled down dip for metallurgical testwork, yielded intercepts:
- 99m @ 2.7g/t Au from 33m in hole HYRC24005 from the Hyperion Lode
- 53m @ 2.9g/t Au from 49m in hole HYRC24009 from the Tethys Lode

The results received are from the 17 hole, 1,770 metre RC program completed at Hyperion¹ covering the Hyperion, Tethys and Seuss Lodes, yielding a series of significant intercepts demonstrating a greater than 30 gram metre interval (grade times width) based on a 0.5g/t gold cut-off, including:

25 metres @ 2.2g/t Au from 66m in hole HYRC24001 (Estimated True Width – “ETW” 24.1m)
15 metres @ 3.1g/t Au from 152m in hole HYRC24003 (ETW 13.2m)
15 metres @ 2.1g/t Au from 48m in hole HYRC24004 (ETW 7.9m)
4 metres @ 7.7g/t Au from 87m in hole HYRC24004 (ETW 2.8m)
10 metres @ 15.9g/t Au from 177m in hole HYRC24004 (ETW 9.4m)
30 metres @ 2.9g/t Au from 31m in hole HYRC24006 (ETW 19.0m)
17 metres @ 2.9g/t Au from 67m in hole HYRC24011 (ETW 14.4m)
15 metres @ 2.2g/t Au from 50m in hole HYRC24012 (ETW 11.7m)
13 metres @ 4.1g/t Au from 26m in hole HYRC24013 (ETW 10.9m)
26 metres @ 1.6g/t Au from 41m in hole HYRC24016 (ETW 25.4m) and
33 metres @ 2.6g/t Au from 49m in hole HYRC24017A (ETW of 29.9m)

The results show that all holes intersected a reportable mineralised interval, with the majority of the reported results at grades above the estimated grade of the recently released Hyperion Mineral Resource. These new results will now be used to update the Hyperion Mineral Resource, which currently comprises an Indicated and Inferred Mineral Resource of 8.64Mt @ 1.5g/t Au for 407,000 ounces at a reporting cut-off grade of 0.6g/t Au².

Drilling was also completed at the Brokenwood, Pandora and Tregony North Prospects for which the Company is still awaiting results.

Hyperion is located in the highly prospective, but underexplored area situated between the 1.1Moz Groundrush Gold Deposit and the 94Koz Crusade Gold Deposit³, both of which form part of the neighboring Central Tanami Project (Northern Star Resources Ltd (ASX:NST)/Tanami Gold NL (ASX:TAM)). Hyperion is also located around 25kms to the south of Prodigy Gold’s wholly owned 64Koz Tregony Gold Deposit⁴ (Figure…