Prodigy Gold

Quarterly Report for the 3 Months ended 31 December 2024

Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) has announced the Quarterly Report for the 3 Months ended 31 December 2024.


Prodigy Gold 100% Projects

Tanami North Gold Project:

  • Final assays were returned during the reporting period for the 17 hole Reverse Circulation drilling campaign at the Hyperion Project that was completed during the September Quarter. The program generated a series of significant intercepts including 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
    • Two holes drilled down dip for metallurgical samples, 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
  • Samples from the Hyperion and Tethys Lodes at the Hyperion Gold Deposit were submitted to Independent Metallurgical Operations Pty Ltd (IMO) for metallurgical testwork.
  • Results for the 6 hole Reverse Circulation drilling campaign at the Tregony Project during the September Quarter were returned during the reporting period, generating several notable intercepts including:
    • 21m @ 4.4g/t Au from 24m (TGRC24006) inc.
      • 1m @ 24.7g/t Au from 42m
    • 20m @ 1.3g/t Au from 88m (TGRC24004)
    • 13m @ 2.7g/t Au from 45m (TGRC24002) inc.
      • 2m @ 9.7g/t Au from 48m
  • PhotonAssay results for selected samples from Hyperion and Tregony North were received, aligning well with the original fire assay results:
    • The high-grade intercept from the Tethys Lode in drill hole HYRC24004, originally reported as 10m @ 15.9g/t Au, matches well using both analytical techniques with the PhotonAssay intercept calculated at 10m @ 15.6g/t Au
  • A Mineral Lease application was lodged covering the Hyperion Gold Deposit located on Exploration Licence EL9250.

Prodigy Gold JV Projects

Lake Mackay Project (IGO and IGO/Castile):

  • No on-ground exploration works were completed on the Lake Mackay Project area during the quarter.

Tobruk & Monza Projects – Newmont JV

  • Field activities reported over the Tobruk Project area during the reporting period included completion of airborne magnetic and ground gravity geophysical surveys.
  • Work reported for the Monza Project area included field reconnaissance and the collection of five rock chip samples and the completion of a depth of cover analysis from the previously collected horizontal to vertical spectral ratio (HVSR) passive seismic survey.

Divestment Projects

  • The sales agreement between Prodigy Gold and Stockton Mining expired during the reporting period . All tenements included in the agreement have now been returned to Prodigy Gold for management.

Management Commentary

Commenting on progress made during the December 2024 Quarter, Prodigy Gold Managing Director, Mark Edwards said:

“It has been a busy end to the year for Prodigy Gold, with all the results from the drilling completed in the September Quarter returned in the December Quarter, with outstanding results for the Hyperion Deposit key amongst those results reported. Two holes, which were drilled down dip for metallurgical sampling, have demonstrated the good continuity of the mineralisation at Hyperion. The results for both Hyperion and Tregony will be used to assist with the updating of the Mineral Resources for the deposits in early 2025. Drill planning is underway so the Company can be ready to commence work once the area is accessible after the Northern Australia wet season.

The drilling completed and reported was utilised to undertake further testwork with samples submitted for PhotonAssay and additional metallurgical testing. The PhotonAssay results have been returned highlighting the suitability of the more traditional Fire Assay technique. Work on the Hyperion metallurgy is now underway, with results expected in the first half of 2025.

Prodigy Gold was also excited to start the process of applying for a new Mineral Lease encompassing the Hyperion Deposit. The process will take some time to complete, requiring agreements with Traditional Owners via the Central Land Council as well as environmental approvals before the lease can be granted. This work will commence in early 2025 with the plan to simultaneously continue the development of the deposit and progress the approvals.

The Prodigy Gold team continues to develop the understanding of our key projects and looks forward to keeping all our shareholders informed about how this progresses during 2025.”


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.

PRX:AU
The Conversation (0)
High-Grade Gold Confirmed at Bronzewing South

High-Grade Gold Confirmed at Bronzewing South

Initial assays returned for visible gold zone logged in diamond drill core~40m south of the Bronzewing Mining Lease, with drilling continuing

Hammer Metals Ltd (ASX: HMX) (“Hammer” or the “Company”) is pleased to provide an update on recent exploration progress at its 100%-owned Yandal Gold Project in Western Australia. Diamond drilling continues with the first batch of assays now received for the zone of visible gold reported to the ASX on 2 September 2025. Drilling of the diamond tail to drill-hole BWSRCD081 was completed a depth of 561.7m.

The diamond drilling program has continued with two diamond tails completed at the Bronzewing Central Target, located approximately 1.7km to the south of the Eastern Target Zone. A follow-up diamond tail will commence shortly at the Eastern Target, with drilling anticipated to conclude towards the end of September. Results from this program will continue to be submitted to the laboratory in batches, with results anticipated to be received throughout September and into mid-October.

Keep reading...Show less
Gold pan holding pieces of gold from creek placer deposit, with words "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Guardian Exploration Gains 94 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

On Thursday (September 11), Canadian Prime Minister Mark Carney revealed the first tranche of projects selected by the newly created Major Projects Office. The goal of the office is to accelerate timelines for projects deemed to be in the national interest, which include infrastructure, natural resources and technology.

The projects include the Phase 2 expansion of LNG Canada’s Kitimat facility, the development of Foran Mining's (TSX:FOM,OTCQX:FMCXF) McIlvenna Bay copper-zinc mine in Saskatchewan, and an expansion of Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) and Imperial Metals' (TSX:III) Red Chris copper-gold mine in Northern BC.

Keep reading...Show less
Gold bars with rising graph overlay and text "Weekly Editor's Picks."

Editor's Picks: Gold Knocks Out Inflation-Adjusted High, Silver Breaks US$42

Gold's record-setting price run continued this week, with yet another new all-time high in the books. Silver also fared well, breaking US$42 per ounce.

According to Bloomberg, gold has now also surpassed its inflation-adjusted all-time high of US$850 per ounce, which it set more than 45 years ago on January 21, 1980. The news outlet notes that at the time the US was dealing with currency issues, inflation and recession concerns.

These are problems that sound all too familiar today. This week brought the release of the latest US consumer price index (CPI) data, which shows a 0.4 percent month-on-month increase for the all-items index — that's ahead of estimates and the most since the start of 2025.

Keep reading...Show less
Hamak Gold

Admission to Trading on the OTCQB Market

Hamak Gold Limited (LSE: HAMA / OTCQB: HASTF), a company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, is pleased to announce that the Company's shares have been admitted to trading on the OTC Venture Market ("OTCQB") in the United States, under the symbol "HASTF". No new Ordinary Shares have been issued by the Company for this parallel trading of its shares.

The purpose of the listing of shares on the OTCQB is to broaden the Company's exposure to the North American investor markets and to increase trading liquidity in a drive to deliver shareholder value.

Keep reading...Show less
Stock market display with "mergers and acquisitions" in green and white text.

Barrick’s Plan to Sell Hemlo Mine for US$1.09 Billion Marks Canadian Exit

Barrick Mining (TSX:ABX,NYSE:B) has agreed to sell its Hemlo gold mine in Ontario, Canada, for up to US$1.09 billion, continuing the company's shift away from non-core assets.

The company announced on Thursday (September 11) that Carcetti Capital (TSXV:CART.H), which will be renamed Hemlo Mining, will acquire the mine under terms that include US$875 million in cash, US$50 million in Hemlo Mining shares and as much as US$165 million in contingent payments tied to future gold prices and production.

Barrick President and Chief Executive Mark Bristow said the sale is part of the company’s ongoing capital allocation approach, noting that proceeds will help bolster the firm's balance sheet and fund returns to shareholders.

Keep reading...Show less
Gold nuggets beside text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Zenith Minerals Strikes Gold at Red Mountain

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.

Companies focused on a mix of minerals and resources once again form this week’s top stocks list, including ones searching for gold, rutile, graphite, lithium and oil.

Significant news, including broad mineralisation discoveries and new acquisitions, drove the top performers this week, which you can learn more about in the list below.

Looking at the bigger picture, Australian lithium stocks took a hit this week following the announcement of Chinese battery giant Contemporary Amperex Technology's (SZSE:300750,HKEX:3750) reported production restart at its Jianxiawo lithium mine in Yichun. Lithium prices and mining companies had previously been lifted in mid-August after the mine was suspended.

Keep reading...Show less

Latest Press Releases

Related News

×