The Conversation (0)
Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is excited to announce the receipt of all results for the Reverse Circulation (“RC”) drilling program completed during September at the Hyperion Gold Deposit (“Hyperion”), which forms part of the Company’s strategically important Tanami North Project in the Northern Territory (Figure 1).
HIGHLIGHTS
- Exceptional results returned from the Reverse Circulation drilling campaign completed at the Hyperion Gold Deposit.
- Intercepts received include highlights:
- Hyperion Lode
- 25m @ 2.2g/t Au from 66m in hole HYRC24001
- 33m @ 2.6g/t Au from 49m in hole HYRC24017A
- Tethys Lode
- 10m @ 15.9g/t Au from 177m in hole HYRC24004
- 30m @ 2.9g/t Au from 31m in hole HYRC24006
- 13m @ 4.1g/t Au from 26m in hole HYRC24013
- Suess Lode
- 4m @ 7.7g/t Au from 87m in hole HYRC24004
- Hyperion Lode
- Two holes drilled down dip for metallurgical testwork, yielded intercepts:
- 99m @ 2.7g/t Au from 33m in hole HYRC24005 from the Hyperion Lode
- 53m @ 2.9g/t Au from 49m in hole HYRC24009 from the Tethys Lode
The results received are from the 17 hole, 1,770 metre RC program completed at Hyperion1 covering the Hyperion, Tethys and Seuss Lodes, yielding a series of significant intercepts demonstrating a greater than 30 gram metre interval (grade times width) based on a 0.5g/t gold cut-off, including:
- 25 metres @ 2.2g/t Au from 66m in hole HYRC24001 (Estimated True Width – “ETW” 24.1m)
- 15 metres @ 3.1g/t Au from 152m in hole HYRC24003 (ETW 13.2m)
- 15 metres @ 2.1g/t Au from 48m in hole HYRC24004 (ETW 7.9m)
- 4 metres @ 7.7g/t Au from 87m in hole HYRC24004 (ETW 2.8m)
- 10 metres @ 15.9g/t Au from 177m in hole HYRC24004 (ETW 9.4m)
- 30 metres @ 2.9g/t Au from 31m in hole HYRC24006 (ETW 19.0m)
- 17 metres @ 2.9g/t Au from 67m in hole HYRC24011 (ETW 14.4m)
- 15 metres @ 2.2g/t Au from 50m in hole HYRC24012 (ETW 11.7m)
- 13 metres @ 4.1g/t Au from 26m in hole HYRC24013 (ETW 10.9m)
- 26 metres @ 1.6g/t Au from 41m in hole HYRC24016 (ETW 25.4m) and
- 33 metres @ 2.6g/t Au from 49m in hole HYRC24017A (ETW of 29.9m)
The results show that all holes intersected a reportable mineralised interval, with the majority of the reported results at grades above the estimated grade of the recently released Hyperion Mineral Resource. These new results will now be used to update the Hyperion Mineral Resource, which currently comprises an Indicated and Inferred Mineral Resource of 8.64Mt @ 1.5g/t Au for 407,000 ounces at a reporting cut-off grade of 0.6g/t Au2.
Drilling was also completed at the Brokenwood, Pandora and Tregony North Prospects for which the Company is still awaiting results.
Hyperion is located in the highly prospective, but underexplored area situated between the 1.1Moz Groundrush Gold Deposit and the 94Koz Crusade Gold Deposit3, both of which form part of the neighboring Central Tanami Project (Northern Star Resources Ltd (ASX:NST)/Tanami Gold NL (ASX:TAM)). Hyperion is also located around 25kms to the south of Prodigy Gold’s wholly owned 64Koz Tregony Gold Deposit4 (Figure 2). Hyperion and Tregony are key pillars of Prodigy Gold’s project portfolio and the focus of the Company’s current exploration activities.
The objectives of the reported Hyperion RC drilling program were to:
- infill areas of the Hyperion Resource that require closer spaced drilling to improve confidence in the recently updated Mineral Resource estimate for the Deposit
- re-drill several historical Air Core (“AC”) holes so that these results can be used in future resource estimations
- complete two holes drilling down dip of the known mineralisation to provide samples for metallurgical benchscale testwork from other areas of the Hyperion Deposit. Previous metallurgical testing was completed only on samples from the Suess Lode5.
Management Commentary
Prodigy Gold Managing Director, Mark Edwards said:
“The drilling completed in 2024 highlights the reason why Prodigy Gold views Hyperion as one of the key projects for the Company. These results support the current company strategy focusing on our Tanami North project area and remaining committed to expanding our Mineral Resource inventory through organic growth. These new results will also provide the Company with additional technical information, such as the recovery characteristics of the mineralisation of other lodes at Hyperion through further metallurgical testwork.
While two holes drilled targeted mineralisation down dip of the Hyperion and Tethys Lodes to provide samples for metallurgical testwork, they also provided the Company with confidence in the style of mineralisation at Hyperion. The holes have provided information regarding the down dip continuity of mineralisation, which will be used to assist with the updating of the Hyperion resource estimate.
With drilling now complete for the current field season the results will be used to assist with the planning of further drilling for the 2025 field season, which will definitely include follow-up drilling close to hole HYRC24004 that intersected 10m of mineralisation at close to half an ounce of gold per tonne (15.9g/t Au). This is an outstanding result and demonstrates the overall potential of the Hyperion Deposit and the nearby areas.”
Figure 1 Project location in the Tanami Region
Hyperion 2024 RC Resource Drilling Programs
The Hyperion Deposit is located on EL9250, which is 100% owned by Australian Tenement Holdings, a wholly owned subsidiary of Prodigy Gold. The project is approximately 150km southwest of Lajamanu in the Tanami Region of the Northern Territory (Figure 1).
The Hyperion Deposit was actively explored by Zapopan NL between 1989 and 1995 with RAB, RC and DD drilling completed. Further exploration was undertaken by Otter Gold NL in 2002 and then Newmont Exploration between 2003 and 2005 before the project was purchased by Prodigy Gold in 2009. The Company has been active on the project since 2011.
Click here for the full ASX Release
This article includes content from Prodigy Gold NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
Click here to connect with Pacgold (ASX:PGO) to receive an Investor Presentation
High-Grade Gold Discovery in First 8 Mile Drill Hole
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
Click here for the full ASX Release
This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
