Prodigy Gold NL (ASX: PRX) with Joint Venture partner IGO Limited (ASX: IGO) have reported high-grade copper (gold-silver) mineralisation from recently completed diamond drilling at the Phreaker Prospect, located within the Company’s Lake Mackay Project near the WA / NT border.
Standout results included 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.
The company said that the drilling has now defined copper, gold, and silver mineralisation within the Phreaker Prospect over 650m strike and 430m vertically – mineralisation is open along strike and down dip.
The JV partners reported that results are still pending for 1,373m of RC and diamond drilling completed at the Raw and Customisable Targets. The company noted that soil sampling was completed on the Arcee and Goldbug Au Prospects which are also located within the Lake Mackay JV tenements, with full results pending.
Drilling at Lake Mackay
The Lake Mackay Project is located 400km northwest of Alice Springs and comprises approximately 15,630km² of exploration licences and applications. The Lake Mackay Project is held by Prodigy in Joint Venture with IGO Limited, with IGO holding a 70% JV interest in the tenements and Prodigy Gold holding a 30% JV interest.
The company had commenced a drilling campaign at the Phreaker Prospect within the Lake Mackay project in March and had designed diamond drilling of EM conductors believed to be associated with base metal mineralisation previously identified in shallow RC drilling at the Phreaker Prospect. The JV partners also completed drilling at the Raw and Customisable Targets.
RC drilling completed at the Phreaker Prospect in August 2019 had confirmed that the mineralised system extends for over 750m of strike. The 2019 drilling intersected copper sulphide mineralisation with intersections including 19LMRC028 14m @ 0.84% Cu 0.15g/t Au 4.1g/t Ag from 353mi; 19LMRC031 10m @ 0.98% Cu 0.06g/t Au 13.9g/t Ag from 146mi; and 19LMRC032 11m @ 1.15% Cu 0.07g/t Au 7.9g/t Ag from 189mi.
PRX said that three diamond drillholes, 21PHDD001, 21PHDD002, and 21PHDD003, have now been completed at the Phreaker Prospect, and encouraging results were reported from these holes.
High-grade results from Phreaker prospect
The company said that all three holes at Phreaker prospect of the expanded drill program successfully intersected Cu-Au mineralisation between 75m and 430m below previous RC drilling.
PRX said that diamond hole 21PHDD002, recorded two encouraging intersections of 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. The company said that wide intervals of sulphide including pyrrhotite, chalcopyrite, arsenopyrite, sphalerite, and galena were also intersected.
The company said that further two holes also confirmed positive mineralisation with results including 21PHDD001 7.34m @ 0.89% Cu, 0.04g/t Au and 14g/t Ag from 477.67m; and 21PHDD003 8.3m @ 0.83% Cu, 0.6g/t Au and 4.6g/t Ag from 677.4m.
Results from Phreaker Prospect 2021 diamond drilling are as shown below.
The company said that the true width of intercepts reported is estimated to be approximately 60% of the downhole widths. PRX said that DHEM has been completed on all holes.
PRX said that the drilling has now defined copper, gold, and silver mineralisation within the Phreaker Prospect over 650m strike and 430m vertically – mineralisation is open along strike and down dip.
What’s next?
PRX said that results are pending RC and diamond drilling at the Raw and Customisable Targets and for soil sampling over the Goldbug prospect and several other soil anomalies.
We are truly excited by these high grade copper intersections recorded in diamond drilling at the Phreaker Prospect
Management statements
Prodigy Gold’s Managing Director Matt Briggs said: “We are truly excited by these high grade copper intersections recorded in diamond drilling at the Phreaker Prospect, which confirm thick Cu-Au-Ag mineralisation previously identified in RC drilling. Drilling results continue to support our view that Phreaker, along with the surrounding targets, have the potential to host a large mineralised system.
This program has intersected high grade copper on the most north-eastern diamond hole and drilling near surface has already confirmed mineralisation extends for at least 750m of strikei. DHEM suggested stronger mineralisation occurred below the previous RC drilling. Importantly, these results demonstrate the down dip continuity of mineralisation to over 600m vertical below surface and mineralisation remains open along strike and down dip.
We are encouraged by these early indications from Phreaker and follow-up exploration programs will be reported in due course. Additional diamond and RC drilling has also been completed at the Customisable and Raw Targets with results expected soon.”
Image Source: Prodigy Gold NL