CORE SAMPLING

Phreaker Prospect drill programme update from Prodigy

Prodigy Gold NL has provided an update on the diamond drilling underway on the Lake Mackay Project 400km northwest of Alice Springs, which is held in Joint Venture with IGO Limited.

 Diamond drilling underway at the Lake Mackay joint venture

Diamond drilling underway at the Lake Mackay joint venture

The previous discovery of the Grapple, Bumblebee, Phreaker, Arcee and Goldbug Prospects since 2015 has upgraded the prospectivity of the western Aileron Province and Warumpi Province for base and precious metal mineralisation.

The current campaign includes diamond drilling of EM conductors thought to be associated with base metal mineralisation at the Phreaker Prospect, and the raw and customisable targets and potentially additional RC drilling of a geochemical anomaly at the raw target.

Two diamond drillholes have been completed at the Phreaker Prospect so far in 2021, with the second hole intersecting a wide interval of sulphides. These holes were planned to intersect mineralisation 150m below previous RC drilling. The first hole drilled, 21PHDD0001, significantly shallowed in dip intersecting the mineralisation ~75m down dip of previous RC holes. The hole intersected 7m of semi-massive and disseminated sulphide from 477.9m downhole and is visually similar to previous intersections from the Phreaker Prospect.

Diamond drill hole 21PHDD002, drilled 400m to the east of 21PHDD001, has intersected the sulphide mineralisation 563m downhole, approximately 475m vertically below surface. Within a downhole interval of 44.4m and estimated true thickness of approximately 28m, the mineralisation consists of intermittent deformed (sheared/brecciated) coarse-grained massive to semi-massive sulphide intervals of up to 6.3m, interspersed amongst stringer and disseminated sulphides. The main sulphide phase includes pyrrhotite (Fe), chalcopyrite (Cu), sphalerite (Zn) and arsenopyrite (As).

Prodigy Gold's MD Matt Briggs said: "Previous significant mineralised intersections at the Phreaker Prospect have been around 10m at about one per cent copper. The current diamond drilling programme is targeting 150m down-dip of existing drilling, testing for thicker higher grade parts of the system. Downhole EM (DHEM) completed during the last RC programme indicated that the strongest part of the EM conductor is below the depth of the RC holes.

"The second diamond hole drilled at the prospect has intersected a 44.4m mineralised interval. This interval includes a total of 12.4m of semi-massive sulphide breccia, 10.5m of stringer sulphides and 7.7m of disseminated sulphides. This hole, and DHEM surveys of previous drilling, indicate the strong conductor continues at depth.

"Drilling near-surface has already confirmed mineralisation extends for at least 750m of strike. The mineralisation recently drilled appears similar to that previously intersected at the Phreaker Prospect but occurs over a much wider zone giving the confidence to test the large EM conductor at greater depths.

"Drilling is now underway on a third hole collared 170m to the west of 21PHDD002, targeting mineralisation a further 150 - 200m down dip.

"The Raw and Customisable EM targets will be tested with co-funded drilling once drilling at the Phreaker Prospect is completed."

Future work at the site includes diamond drilling planned for the raw and customisable targets and drilling to continue on a third hole at the Phreaker Prospect. Soil sampling is 60 per cent complete on WA and NT tenements, with any anomalies generated likely to be tested by RC drilling and additional RC drilling is also planned for the Arcee and Goldbug Prospects.

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