Prodigy Gold (ASX:PRX) has received an exploration grant for deep diamond drilling at Hyperion under round 19 of the Geophysics and Drilling Collaborations program administered by the Northern Territory’s Minister for Mining and Energy, the Honourable Gerard Maley.
Prodigy has received a grant of $112,152 for deep diamond drilling at the Hyperion Gold Deposit in the Tanami North Project.
The program comprises one 500m HQ diamond drill hole targeting a chargeability anomaly identified in 2025 by a dipole-dipole induced polarisation (IP) survey. This anomaly sits outside the current drilling footprint and has been interpreted to represent a potential sulphide-rich zone connected to the gold system at Hyperion.
Managing Director Mark Edwards says the awarding of the grant recognises the quality and potential of Hyperion.
“The grant enables Prodigy Gold to directly test a compelling geophysical target generated from our successful 2025 dipole-dipole IP survey, which identified a large chargeability anomaly extending beneath and south of the current resource position,” Edwards says.
“The anomaly occurs within a favourable structural setting adjacent to the Hyperion South lode and coincides with interpreted extensions of the mineralised corridor, providing a compelling target for deep diamond drilling.
“Success would not only support resource growth at Hyperion but also validate induced polarisation as an effective exploration tool across our broader Tanami tenement holding.
“The co-funding allows Prodigy to accelerate exploration on one of the most prospective gold projects in the Tanami Region.”
Maley stresses the importance of the resources sector to the economy of the Northern Territory.
“We want local companies, like Prodigy Gold, continuing to choose the Territory when they make investment decisions, and programs like this help make that happen.”
The drill target follows Prodigy’s 2025 drill program, which returned ‘significant’ results from three lodes at Hyperion, including:
- 24m @ 5.5 grams per tonne gold from 75m at the Seuss lode
- 18m @ 4.2g/t gold from 79m at the Seuss lode
- 12m @ 4.62g/t gold from 131m at the Hyperion lode
- 5m @ 2.3g/t gold from 124m at the Tethys lode
Prodigy also notes that ‘high-grade’ mineralisation has been confirmed through diamond drilling at the Tethys lode, including 2m @ 17.8g/t gold from 234m.
The grant-funded deep diamond drilling will test a target located approximately 150–250m south of the current Hyperion Mineral Resource of 9.8 million tonnes @ 1.4g/t gold for 454,000 ounces.
Drilling is scheduled to commence in the September 2026 quarter.
Northern Territory Government support
The Northern Territory Government has committed $4.09 million in exploration grants to regional projects that target gold, copper, rare earth elements, uranium, and tungsten.
Close to 60% of the projects receiving funding through the exploration grants involve drilling programs.
An additional Territory Supplier Incentive program includes $110,594 in support for local businesses providing industry services including drilling, earthworks, and laboratory work.
Prodigy Gold is focused on a portfolio of greenfields and brownfields exploration tenements in the Tanami Gold Province in the Northern Territory.
Write to Amy Rotman at Mining.com.au
Images: Prodigy Gold
