Prodigy Gold (ASX:PRX) has delivered a maiden Mineral Resource Estimate (MRE) for the Tregony deposit, as part of its Northern Tanami Project in the Northern Territory.
The company says Tregony contains 1.44 million tonnes (Mt) @ 1.16g/t gold (Au) for 54,000 ounces (koz) using a cut-off grade of 0.6g/t Au, as well as 0.61Mt @ 1.71g/t Au for 33.7koz using a lower cut-off grade of 1.0g/t Au.
Adding on, Prodigy notes this maiden MRE represents the first addition to its mineral resource inventory following the report of the Hyperion mineral resource in 2018, and brings the mineral resource inventory to a total of 17.1 million tonnes (Mt) at an average grade of 1.93g/t gold for 1.06 million ounces (Moz) of gold.
All mineral resources are reported to be classified within the inferred category.
Commenting on the maiden MRE, Prodigy Gold Managing Director Mark Edwards says: “The addition of the new Tregony Mineral Resource is a great step forward for Prodigy Gold as we continue on our strategy of identifying new gold deposits within the Tanami region of the Northern Territory.
“The addition of the new Tregony Mineral Resource is a great step forward for Prodigy Gold”
The Tregony deposit is located in an advancing geological area which also hosts two well established Mineral Resources at the Groundrush deposit to the south and the Crusade deposit in the north, both under the control of the Central Tanami Project Joint Venture between Northern Star Resources Limited and Tanami Gold NL.
This work also highlights the potential to add to this inventory through further exploration in early 2023. Planning is well underway to mobilise an RC drill rig to the project to commence further resource definition drilling in and around the Tregony defined Mineral Resources. This will be an exciting time for the company while we work towards building a solid project pipeline in and around the Tanami North project area.”
The company also notes modelling demonstrates potential to grow the mineral resource with additional drilling, specifically around historic rotary air blast (RAB) and aircore (AC) drillholes.
It is believed that further drilling will be undertaken in the first half of 2023 at the Tregony deposit in order to assist with adding confidence to and further growing its mineral resource inventory.
With the maiden MRE for Tregony now delivered, the company announces a detailed surface survey is required to be completed prior to any future mining decisions being made, and will likely be undertaken at the same time as collars are surveyed in the future.
Prodigy Gold is an ASX-listed company that is in possession of a ‘unique’ greenfields and brownfields exploration portfolio within the proven multi-million-ounce Tanami Gold Province in the Northern Territory. The company’s Tregony deposit is located on exploration licence (EL) 31331, falling within the Tanami region of the Northern Territory about 620km north-northwest of the city of Alice Springs.
Other assets held within Prodigy’s exploration arsenal include the Hyperion and Lake Mackay Projects in the Northern Territory.