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Be the first with the news that moves the market- Prodigy Gold (PRX) begins diamond drilling at its Hyperion Project in the Northern Territory
- A 250-metre-deep diamond hole will be drilled at the PHD Target to test for stratigraphic and structural controls of the gold mineralisation
- The diamond drilling is co-funded by the Northern Territory Government as part of the Resourcing the Territory initiative
- Once drilling wraps up at the PHD Target, focus will move to the Tregony Deposit to extend the mineralisation and enhance Prodigy’s understanding
- Prodigy ends the day 2.56 per cent in the red with shares trading at 3.8 cents
Prodigy Gold (PRX) has begun diamond drilling at its Hyperion Project in the Northern Territory.
A 250-metre-deep diamond hole will be drilled at the PHD Target to test for stratigraphic and structural controls of the gold mineralisation.
The PHD Target is an 11-kilometre-long soil gold anomaly with previous drilling defining gold within two zones.
An airborne magnetic survey completed in 2019 highlighted extensions to the structure along strike and identified the potential for parallel structures.
The diamond drilling is co-funded by the Northern Territory Government as part of the Resourcing the Territory initiative.
Managing Director Matt Briggs commented on the drilling program.
“Strong gold in soil anomalism over 11 kilometres has prioritised this target for stratigraphic drilling, and we see significant potential to extend historically defined fresh rock mineralisation within the project,” Mr Briggs commented.
“This diamond drilling is designed to intersect the mineralised trend in fresh rock, to provide structural context and test for stratigraphic controls and understanding of gold mineralisation.
“This is the first of two targets to be drilled at Hyperion in the coming months. Drilling is also planned to extend mineralisation down dip and enhance our understanding of the Tregony Deposit.”
Prodigy has ended the day 2.56 per cent in the red with shares trading at 3.8 cents in a $22.64 million market cap.
