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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
- Hyperion 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
- 21m @ 4.4g/t Au from 24m (TGRC24006) inc.
- 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.
Application for quotation of securities - AUE
Sarama Corporate Presentation - February 2025
AI Defines 18 New Gold Targets at Music Well
SensOre consultants have applied artificial intelligence (AI), machine learning (ML) and other processing techniques using both public and proprietary datasets over the Music Well Project.
- Cutting edge AI/ML algorithms targeting areas with minimal outcrop or under cover.
- Integration of geological, geochemical and geophysical data sets into the AI process to define digital mineralisation fingerprints and generate AI-enhanced gold discovery predictions.
- The AI SensOre study concluded that “Application of ML algorithms were found to model +1m oz Au potential with a high degree of predictability, and a total of 18 targets were identified within the Music Well project”:
- Target 1 has the highest priority and is in the central north of the project with a strike length of 8km.
- Target 1 trends NNW parallel to the general geological fabric as well as being intersected by several WNW trending cross structures.
- Target 2 is located 4km east of the Wonder Deeps mine of Northern Star and is adjacent to a parallel WNW trending structure hosting Vault Minerals Great Western mine.
- Target 2 is 1.4km in strike and 800m wide.
- No historic drilling has been recorded at any of the target areas, highlighting the underexplored nature of the Music Well project.
- Next Steps
- Geological mapping and sampling over these new targets are scheduled for the next two weeks to gain further insight into the new targets.
- Results from the January rock chip sampling program are expected shortly.
Andrew Ford, GM Exploration
“The work by SensOre has focussed our attention from areas of outcrop, toward regional targets which are obscured in many cases by thin cover and sheetwash. By applying groundbreaking technologies such as artificial intelligence has enabled the rapid prioritization of multiple targets. The definition of targets reflecting a specific geophysical and geochemical response which also focuses on key mineralised structural trends provides encouragement as to the robust nature of the targeting process”.
Figure1: Regional Tenement Packages and Gold Projects
Background:
Augustus Minerals Limited( ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.
Music Well comprises ten exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).
The outstanding gold endowment of the Leonora-Laverton District of >28M ounces3 is illustrated by the numerous operating gold mines including the Darlot Gold Mine (~12km to the north), the King of the Hills Mine (~20km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20km to the west).
AI Enhanced Gold Exploration
The Company commenced a gold targeting exercise with SensOre_X Pty Ltd (SensOre) in November 2024, using their Artificial Intelligence (AI) and Machine Learning (ML) technologies to allow predictive analytics to generate targets for discovery of gold systems at the Music Well project.
SensOre is an industry leading technology services provider of AI/ML applications to the minerals exploration and mining industry. SensOre’s technologies have been developed over many years and involve the application of new computer assisted statistical approaches and ML techniques across the mineral cycle to provide the next generation of exploration discoveries. SensOre aims to become the top global minerals targeting company through deployment of big data, AI/ML technologies and geoscience expertise.
The Company committed to this new technological approach to gold exploration at Music Well to reinforce the existing generative exploration undertaken by the Company and deliver new “out of the box” targets for gold mineralisation over the project area, which has minimal historic exploration and limited outcrop.
In addition, the Company has inherited a large and impressive database of geological, geochemical, and geophysical information since acquiring Music Well Gold Mines Pty Ltd in late 2024. Having a variety of good quality datasets is considered a key attribute for the application of the AI/ML technology to accelerate the discovery process. The data layers used in the AI/ML processing include results from 2,478 Ultra fine fraction soil samples, 18,042 soil samples and 155 rock chip samples, in addition to detailed aeromagnetic and gravity data.
The Music Well project is contained within an area of influence (AOI) where a “data cube” was constructed covering the four 100k scale regional map sheets containing 80m x 80m cells. This data cube contains 1,440,000 cells x 1,618 variables where the AI/ML technology was applied.
Figure 2: SensOre geophysical predictions identifying multiple intrusion types and an area of probable mafic/ultramafic rocks in the SE of the project
The application of the machine learning approach applied by SensOre to the database of geochemical, geological and geophysical information compiled over the Company’s AOI has demonstrated the highly gold prospective nature of the Music Well project. Application of the machine learning algorithms modelled the probability of gold systems within the AOI and more specifically the Music Well project. This required 107 variables for discrimination that were applied to the 80m by 80m cells within the AOI.
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
Proposed issue of securities - AAU
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