- Prodigy Gold (PRX) has received leach extraction results from Independence Group (IGO) for its Grimlock copper-nickel-prospect
- It also received reverse circulation results from the Arcee Prospect with results grading up to 4.9 grammes per tonne gold
- Follow-up diamond drilling is now planned for the Raw and Phreaker Prospects
- Prodigy’s share price is down a slight 2.60 per cent today with shares trading for 7.5 cents apiece
Prodigy Gold (PRX) has received leach extraction results from IGO from the Grimlock copper-nickel-magnesium prospect.
A total 97 per cent copper was extracted at a head grade of 1.94 per cent, 99 per cent magnesium extracted at a grade of 51.91 per cent, and 85 per cent of nickel was extracted at a grade of 0.47 per cent.
“The results of leach extraction test work, which could form part of a process to recover cobalt-nickel-manganese at Grimlock, have exceeded our expectations,” Prodigy Gold Managing Director Matt Briggs said.
It also received reverse circulation (RC) results from the Arcee Prospect, both located within the Lake Mackay Project in the Northern Territory.
Lake Mackay is held in joint venture with IGO (Independence Group) on a 70:30 split (IGO:PRX).
It is located 400 kilometres northwest of Alice Springs and includes 12,833 square kilometres of exploration licences and applications.
The Acree Prospect is an 800 metre long coherent gold-in-soil anomaly that is open to the west.
Initial drilling intersected dispersed sulphide in amphibolite, yielding a 12 metre interval of low-level gold.
A hole completed 350 metres to the southeast returned 12 metres at 3.5g/t gold from 112 metres, including 8 metres at 4.9g/t gold from 116 metres.
This intersection included dispersed pyrite and minor quartz veining.
Results were also returned for an additional six RC holes also completed at Arcee where drilling was completed on five sections testing 600 metres of strike.
Drilling confirmed the interpreted orientation of mineralisation with best results of 4 metres at 1.6g/t gold from 72 metres, and 4 metres at 1.5g/t gold from 128 metres.
Assays have also been received from infill soil sampling around Arcee and the west into E80/5001.
Soil sampling close to the W.A. and Northern Territory border has extended the Arcee gold anomaly into E80/5001 which has now extended the gold-in-soil anomaly to 2.3 kilometres long.
Once the final soil sample results are received from recent sampling in W.A., the Arcee Prospect area will be re-interpreted and anomalous areas will be selected for infill sampling.
Additional studies of Grimlock are required to determine the size potential and grade of the mineralisation.
This will likely involve several shallow diamond drill holes and a grid of shallow RC drill holes.
Follow-up diamond drilling is now planned for the Raw and Phreaker Prospects.
“A targeted follow-up exploration program at Lake Mackay is planned to commence early in the next field season and we look forward to providing further updates in due course,” Matt said.
Prodigy Gold’s share price is down a slight 2.60 per cent today with shares trading for 7.5 cents apiece at 2:09 pm AEDT.