Prodigy Lake Mackay project

Prodigy Gold receives ‘encouraging’ results from drilling at the Lake Mackay Project

Prodigy Gold (ASX:PRX) has received ‘encouraging’ results from diamond and reverse circulation (RC) drilling at the Lake Mackay Project in the Northern Territory and Western Australia.

A total of 25 RC holes and 1 diamond hole were completed at the project returning further encouraging copper results at the Phreaker prospect and anomalous gold reported in three RC holes targeting gold-in-soil anomalies.

Prodigy reports a ‘highly’ anomalous copper result was also returned from RC drilling at the gold-in-soil anomalies, highlighting the potential for additional polymetallic occurrences across the project.

Anomalous gold at Phreaker also opens the possibility for additional mineralisation closer to surface than previous results indicated.

The Lake Mackay Project is a joint venture (JV) with IGO (ASX:IGO). Prodigy is currently assessing the results with IGO and planning further drilling at Phreaker.

Commenting on the results, Prodigy Gold Managing Director Mark Edwards said: “The completed drill programs at Lake Mackay mark Prodigy Gold’s entry to exploration in the area, which has historically been managed by IGO.

“The completed drill programs at Lake Mackay mark Prodigy Gold’s entry to exploration in the area”

This has been undertaken to facilitate the restructuring of the JV, to give Prodigy Gold a majority interest in the gold tenements while retaining its position in the base metal tenements.

The diamond drilling at Phreaker failed to test down-plunge of the high-grade interval from drillhole 21PHDD002 due to drilling challenges. However, Phreaker remains a high-priority target for the JV partners.

The RC drilling undertaken on three gold tenements identified low-level gold mineralisation under one of the three gold-in-soil anomalies tested. The JV partners are currently assessing the drill data, and other untested gold-in-soil anomalies before undertaking further drilling.

Prodigy Gold has also secured co-funding for RC drilling at the Boco North target on the Hyperion  Project and plans to drill this target during the 2022/2023 field season together with further drilling at the Tregony prospect.”

The Phreaker prospect is located within the Lake Mackay JV on EL30731, 42km east of Kintore and 400km west of Alice Springs. The polymetallic mineralisation at the Phreaker prospect was initially discovered by IGO using airborne and follow-up ground electromagnetic (EM) surveys in 2018 and 2019.

Three diamond drill holes were drilled by IGO at the prospect in 2021.

The best two recorded intersections were in drillhole 21PHDD002 – 4.5m @ 3.03% Cu, 1.78g/t Au and 14g/t Ag from 562m, and 17.47m @ 2.13% Cu, 0.21g/t Au and 9g/t Ag from 575.23m.

Prodigy has a unique greenfields and brownfields exploration portfolio in the proven multi-million-ounce Tanami Gold Province.

It remains 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 and Lake Mackay Projects; a scoping study on the Buccaneer Resource; systematic evaluation of ‘high potential’ early stage targets; and, JVs to expedite discovery on other targets.

Images: Prodigy Gold Ltd
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.