Prodigy Gold completes successful RC drilling at Hyperion, plans further exploration

Prodigy Gold (ASX: PRX) is considering a deeper drilling program after receiving significant results at the Hyperion gold deposit, which forms part of its strategically important Tanami North project in the Northern Territory.

The company is currently assessing the latest drilling results with a view to designing deeper diamond holes to test the potential depth extents of the Hyperion mineralised system.

This potential has been particularly highlighted by two holes reporting significant high-grade zones at a depth of around 180 metres below the surface—the base of the currently reported mineral resource estimate (MRE).

RC program

Prodigy has now received all results for the reverse circulation (RC) drilling program completed at Hyperion during September.

The 17-hole, 1,770m RC program covered the Hyperion, Tethys and Seuss lodes, yielding a series of significant intercepts demonstrating a greater than 30-gram-metre interval.

All holes intersected a reportable mineralised interval and will now be used to update the Hyperion MRE, which currently comprises an indicated and inferred mineral resource of 8.64 million tonnes at 1.5 grams per tonne gold for 407,000 ounces at a reporting cut-off grade of 0.6g/t gold.

Key project

“The drilling completed in 2024 highlights the reason why Prodigy Gold views Hyperion as one of the key projects for the company,” managing director Mark Edwards said.

“These results support the current company strategy focusing on our Tanami North project area and remaining committed to expanding our mineral resource inventory through organic growth.”

“These new results will also provide the company with additional technical information, such as the recovery characteristics of the mineralisation of other lodes at Hyperion through further metallurgical test work.”

Down-dip continuity

Mr Edwards noted that, while three of the holes were drilled to provide samples for metallurgical test work, they also provided the company with confidence in the style of mineralisation at Hyperion.

“The holes have provided information regarding the down-dip continuity of mineralisation, which will be used to assist with the updating of the Hyperion resource estimate.”

With drilling now complete for the current field season, the results will be used to assist with the planning of further drilling for the 2025 field season.

This will include follow-up work close to hole HYRC24004, which intersected 10m of mineralisation at close to half an ounce of gold per tonne.

Awaiting further results

The company is now awaiting results from drilling completed at its Brokenwood, Pandora and Tregony North prospects.

The Hyperion deposit was actively explored by Zapopan between 1989 and 1995, with further exploration undertaken by Otter Gold in 2002 and then Newmont Exploration between 2003 and 2005 before the project was purchased by Prodigy Gold in 2009.

The company has been active on the project since 2011.