Prodigy Gold (ASX:PRX) has been handed 2 exploration grants, with the Northern Territory government to co-fund up to $158,148 for work across the Tanami North project area.
Both co-funded programs will expand the company’s understanding of the Tanami North project in the Northern Territory and help with a more detailed exploration plan moving forward. Specifically, the funding will be used to complete a regional gravity geophysical survey at Tanami North and a single diamond drillhole into the Tregony gold deposit.
Commenting on the exploration grant, Prodigy Gold Managing Director Mark Edwards says: “Prodigy Gold was honoured to have hosted Hon. Nicole Manison at our office earlier today, where she announced the results of the grants program under Round 16 of the Geophysics and Drilling Collaborations (GDC) program funded by the Resourcing the Territory initiative.
“Without the co-funding support of the NT Government, some of these programs would take a lot longer to be initiated”
Without the co-funding support of the NT Government, some of these programs would take a lot longer to be initiated, delaying our geological understanding of the regions we work in. These sorts of programs significantly increase our knowledge of the local and regional geology of our projects and could fast-track the next major mining discovery.”
The company says the planned survey of the Tanami North Project will extend from the southern boundary of exploration licence EL9250 up to the northern boundary of EL31331. The survey will provide high-resolution data over the Hyperion and Tregony mineral resources and help identify potential new mineralised structures in the gold camp.
If successful, the program has the potential to open up new areas for further exploration targeting potentially mineralised structures adjacent to the Suplejack Shear Zone (SSZ) and within the Killi Killi Formation.
As for the Tregony drilling, the company plans to complete a single diamond core hole to a depth of around 350m. The hole is designed to test and extend mineralisation down-plunge of the current mineral resource while providing structural and stratigraphy context to mineralisation in an area with no previous drilling.
Prodigy Gold says the co-funded diamond hole will be used to understand the local structural controls on the stacked vein system of the Tregony mineral resource, allowing for better targeting of ‘higher-grade’ zones within this deposit.
The company adds that the Tanami North Project is a key focus for the upcoming field season and says it looks forward to continuing to work with the government as they advance the programs through 2023.
Prodigy Gold is an ASX-listed exploration company with a ‘unique’ greenfields and brownfields exploration portfolio in the proven multi-million ounce Tanami Gold Province.
Images: Prodigy Gold
