Prodigy Gold NL (ASX: PRX) has 1Moz @ 2.1g/t of shallow gold resources in one of Australia’s premier gold mining districts. The company is aggressively exploring its 100% projects, and has successful joint ventures with IGO, and Newcrest. A Premier Destination – The Northern Territory (NT) is becoming ‘the’ destination for exploration by major Australia gold producers Northern Star, Newmont, IGO, Evolution, and now Newcrest are exploring or producing in the NT.
Prodigy Gold has a unique, strategic footprint in and around the Tanami gold district. An Industry Recognised Team – Managing director Matt Briggs (geologist) headed Group Strategic Planning for Gold Fields Limited before joining Prodigy Gold, Chairman Tommy McKeith (geologist) previously led exploration teams to several significant discoveries and is currently also NED of Evolution Mining Limited, and exploration manager Neil Jones held recent roles at Gold Fields, PMI Gold and Troy Resources exploring primarily for gold.
The Company Strategy – Prodigy’s goal is to find the next major Australian gold discovery in the Tanami. Our focus is systematic greenfields exploration to screen for the next Callie, Tropicana or Gruyere. We will progress 100% Prodigy Gold owned projects to PFS and look for partners to develop. The company has joint ventures underway with IGO, Newcrest and Gladiator Resources that will add ~$10M per year in exploration to the portfolio in addition to the companies own programs. Undertaking Serious Systematic Exploration – New large deposits are discovered and defined through drilling. The company has drilled more ground in the last 18 months (107sq km) than the 7 preceding years (53sq km) since the company entered the Tanami in 2009 and plans to continue aggressive exploration in the future. The company is undertaking broad spaced drilling in the most prospective areas, drilling to bedrock to recover high quality samples, and systematic geochemistry to define the lithology, stratigraphy, alteration and the footprints of the target deposits.
Recent exploration results from RC drilling include 4m @ 6.1g/t Au on the 100% owned Bluebush Project and 2m @ 12g/t Au from the Newcrest JV. IGO has recently completed massive 14,951km airborne EM survey to define base metal conductors, and identified two nickel-cobalt prospects with up to 2.5% Co and 1.1% Ni at surface. 9,600m of RC drill will commence in Q2 2019 to test the highest priority targets defined.
Plans and Latest Developments:
Prodigy Gold completed over 40,000m of drilling in 2018 along with multiple geophysical surveys. These successfully defined 7, multi-kilometre gold targets. Drilling in 2019 will continue to systematically follow up recent RC results of 4m at 6g/t gold on our 100% owned projects and 2m at 12g/t gold at the Euro Project in joint venture with Newcrest. Additionally 9,600m of RC drilling are planned on the Lake Mackay JV with IGO testing over 30 base metal and nickel-cobalt targets.
Why should investors invest in you?
Prodigy Gold continues to demonstrate the potential for the discovery of major gold deposits in the Tanami Region of Australia. During 2019 the company will continue to aggressively progress targets including recent RC results of 4m at 6g/t gold on our 100% owned projects and 2m at 12g/t gold at the Euro Project in joint venture with Newcrest. Additionally 9,600m of RC drilling are planned on the Lake Mackay JV with IGO drilling over 30 conductors associated with base metals, and nickel-cobalt targets. The company also plans to conclude additional joint ventures to accelerate discovery.
Countries of Operation:
Cobalt | Copper | Gold | Nickel
$ 30M USD
Board of Directors:
Tommy McKeith – Chairman
Matt Briggs – Managing Director
Brett Smith – Non-Executive Director
Mike Stirzaker – Non-Executive Director
Jutta Zimmermann – CFO / Company Secretary
Neil Jones – Exploration Manager
Pacific Road Capital Management Pty Ltd – 19.95%
APAC Resources Limited & Allied Properties Investments (1) Company Limited – 12.3%
Independence Group NL – 10.2%
St Barbara Limited – 9.8%
Craton Capital Precious Metal Fund – 5.4%”