NEWS out !!!GlobeinvestorGOLD.com Company News Alert for Prodigy Gold Inc.
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Prodigy Drills 104 metres Grading 1.01 gpt Gold Including 36 metres Grading 2.33 gpt Gold at Magino
Business Wire
VANCOUVER, British Columbia (Business Wire) -- Prodigy Gold Incorporated (PDG: TSX.V) is pleased to announce additional
results from its in-fill and resource expansion drilling program at its
100% owned Magino mine gold project in Ontario. Drilling during the last
month has focused on three areas: The northeastern higher grade portion
of the Magino deposit and two lower grade areas in the central and
southwest parts of the deposit. In the northeast target area, drilling
intercepted thick intervals of gold mineralization including substantial
thicknesses of higher grade gold mineralization: 104 metres grading 1.01
gpt gold including 36 metres grading 2.33 gpt gold in drill hole
MA11-056, 168 metres grading 1.00 gpt gold and a deeper zone grading
3.88 gpt gold over 8 metres in drill hole MA11-083, and 182 metres
grading 0.82 gpt gold including 20 metres grading 2.66 gpt gold in drill
hole MA11-081. These results, when combined with previous drill results
in the area, indicate that the Magino gold resource can be expanded in
this important higher grade portion of the deposit (please see drill
hole location map associated with this release at the followinglink:
https://www.usetdas.com/maps/prodigy/prodigy08042011002.jpg).
Brian J. Maher, President and CEO of Prodigy Gold comments: "The
continuing success of our 45,000 metre in-fill drilling program confirms
our expectations: identifying areas for gold resource expansion and
defining the extents of this large gold deposit. We are on schedule for
releasing an updated resource estimate for Magino in late September and
a revised PEA in October, paving the way for a full feasibility study in
early 2012. With the recent addition of Fred Mason as our VP Operations,
we now have the complete technical team in place to lead the company
through the development process at Magino. Detailed metallurgical test
work is underway, geotechnical drilling is largely completed and we will
soon transition from in-fill drilling to exploratory drilling at Magino,
seeking to identify the ultimate size of this robust gold system. With
this rapid progress, the next several months promise to be exciting
times for our company."
Drilling in the central (e.g. drill holes MA11-070, 071, 075 etc.) and
southwest portions (e.g. drill holes MA11-046 through MA11-049) of the
Magino gold deposit was designed to identify the margins of the system
and to complete the drill hole database in areas not previously drilled.
This program has been a success and will allow the completion of a
revised resource estimate for this portion of the deposit. Given the
average grade of the Magino deposit documented in the NI43-101 technical
report, the results to date are as expected, bracketing the average
grade of the deposit and identifying areas for significant resource
expansion