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Prodigy Gold drills out additional gold mineralisation with broad intersection at Euro JV Project

The three targets drilled at Dune have coincident geochemical anomalism and induced polarity or magnetic geophysical anomalies.

Newcrest Mining - Prodigy Gold drills out additional gold mineralisation with broad intersection at Euro JV Project
Prodigy’s share price was up nearly 2% to 16 cents in today’s trading

Prodigy Gold NL has drilled into a broad gold intersection in a seven-hole reverse circulation (RC) and diamond drilling program which went for 2,730 metres across three targets at the Dune prospect within its Euro Joint Venture Project.

Drilling aimed to test highly prospective targets identified at Dune which is 1.5 kilometres to the south of Newmont Mining’s Oberon deposit.

The key targets at Dune are hosted along strike or parallel to the Trans-Tanami trend and have seen limited or no previous exploration.

Dune is held in a joint venture with Newcrest Mining Limited (ASX:NCM) which will sole fund up to $12 million over seven years to earn up to a 75% interest in the project.

Large and broad gold intersection

Prodigy Gold managing director Matt Briggs said the RC and diamond drilling had built on the success of last year’s drilling with the intersection of 36 metres at 0.65 g/t gold, including 20 metres at 0.95 g/t.

Briggs added: “Arsenic anomalism and gold mineralisation appears to intensify to the north and west of the target.

“An additional two lines of RC drilling have been planned to test this position in the September 2019 quarter.

“Aircore drilling has recently been completed on our 100%-owned Capstan South and Apertawonga prospects, with further RC drilling also planned to commence at Capstan later this month.

“The RC program will infill around the results 4 metres at 6.1 g/t god and 9 metres at 1.3 g/t reported in December 2018.”

Next steps

Additional RC drilling is proposed to test the anomalous arsenic and gold trend further to the northwest at anomaly 2 at Dune.

Final design of the program is underway with drilling scheduled to finish in the September quarter.

Data from airborne magnetic surveys has further delineated reconnaissance targets to the north of the Euro project and partial permitting of aircore and RAB drilling has been received.

For drilling to begin at the targets, which include Anomaly 16, Anomaly 14,  and Prospero, further approvals will be required.

Quick facts: Newcrest Mining Limited

Price: 35.65 AUD

Market: ASX
Market Cap: $29.09 billion

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