Prodigy Gold reports updated mineral resource estimate for Tregony gold deposit

Prodigy Gold NL (ASX: $PRX) has reported an updated Mineral Resource estimate for its 100% owned Tregony Gold Deposit located on EL31331 at the Tanami North project in the Northern Territory. The updated estimate shows a total Mineral Resource of 1.56Mt @ 1.3g/t Au for 64,000 ounces, representing a 36% increase in tonnes, 4% decrease in grade, and 30% increase in ounces compared to the previously released Tregony Mineral Resource.

Prodigy Gold Managing Director, Mark Edwards, on Tregony Mineral Resource update

The updated Mineral Resource estimate for the Tregony deposit highlights the successful drilling campaign completed on the project during 2023. A total of 36 RC holes for 4,720m were drilled into the deposit over 2 campaigns over the course of the year. This drilling was supported by a single diamond hole, which was around 350m deep and was co-funded by the NT Government using its Resourcing the Territory Round 16 grants. The drilling results allowed Prodigy Gold to increase confidence in the Mineral Resources for Tregony, supported historic results and added confidence to the overall Mineral Resource allowing the reporting of material within the Indicated category for the first time. Additionally, to this increase in confidence there has also been an increase of around 30% in the overall Mineral Resource ounce inventory for the deposit. This is a result of an increase in the tonnes (+36%) resulting in a slight decrease in grade (-4%). During this update process the Prodigy Gold team has defined additional areas and targets using the AC/RAB drilling that is not used to define any of these Mineral Resources. The areas of potential growth will be assessed for drilling in 2024 to potentially further increase the Mineral Resource over the coming 12 months.

Summary of Prodigy Gold's Tregony Mineral Resource update

The updated Mineral Resource estimate for the Tregony Gold Deposit shows a significant increase in tonnes and ounces, reflecting the success of the 2023 drilling campaign. Prodigy Gold's ambitions include advancing priority targets and further development of the Mineral Resources at the Tanami North project, a mining options study on the Buccaneer and Old Pirate Mineral Resources, systematic evaluation of all targets, and support for Joint Venture partners to expedite discovery on their projects. The company also plans to conduct additional drilling to add further confidence and potentially increase the overall Mineral Resources, along with more detailed surface surveys and cost reviews.