Starting to actually believe this 'dramatic revaluation' talk. Great assays.
Prodigy Gold Reports New Core Assays From Magino: 169 Metres Grading 1.02 gpt Gold
Vancouver, British Columbia CANADA, January 05, 2011 /FSC/ - ProdigyGold Inc. (PDG - TSX Venture),is pleased to announce additional assayresults from its core sampling program at its 100% owned Magino Mineproject located in Ontario. Prodigy Gold (formerly Kodiak Exploration)has been systematically sampling previously unassayed sections of corefrom the 2006 drilling campaign, concentrating on thick intervals ofdisseminated gold mineralization adjacent to higher gradestructures. Prodigy has split and sampled over 2,800 metres of core andis utilizing the new data in to update the gold resource estimate forthe Magino Mine project. Highlights from drill holes 06-01 through06-10 include:
* 169.3 metres grading 1.02 gpt gold in drill hole 06-10
* 93.0 metres grading 0.74 gpt gold in drill hole 06-09
* 53.0 metres grading 1.04 gpt gold in drill hole 06-08
* 50.0 metres grading 0.87 gpt gold in drill hole 06-02
The new assays, coupled with previous drill data, is being utilizedby Prodigy Gold to plan an extensive campaign of in-fill drilling,expected to begin shortly. The drill holes reported here are angleholes, therefore the depth below surface for these intercepts is 71% to86% of the down hole distance, within the range of a potential open-pitmining operation. The geometry and grade of the Magino gold systemcompares favorably to several large scale low-grade gold systemscurrently being mined or under development in eastern Canada.
As illustrated in the table below, gold mineralization is pervasivein the Magino system. Complete results for drill holes 06-01 through06-10 are included in the table below.
-***-
-------------------------------------------------------------------------
Drill Hole From To Interval Gold Grade
(m) (m) (m) (gpt)
------------------------------------------------------------------------
06-01 60.9 78.00 17.1 0.48
------------------------------------------------------------------------
130.0 141.00 11.0 2.34
------------------------------------------------------------------------
231.0 251.00 20.0 1.01
------------------------------------------------------------------------
06-02 302.0 352.00 50.0 0.87
------------------------------------------------------------------------
403.0 433.00 30.0 0.72
------------------------------------------------------------------------
06-03 282.0 304.00 22.0 0.70
------------------------------------------------------------------------
334.0 342.00 8.0 3.16
------------------------------------------------------------------------
06-04 - - nil -
------------------------------------------------------------------------
06-05 154.0 171.0 17.0 0.65
------------------------------------------------------------------------
228.5 259.0 30.5 0.56
------------------------------------------------------------------------
268.9 289.9 21.0 0.22
------------------------------------------------------------------------
311.9 325.9 14.0 3.27
------------------------------------------------------------------------
383.9 394.9 11.0 2.86
------------------------------------------------------------------------
06-06 110.9 142.0 31.1 0.61
------------------------------------------------------------------------
156.0 167.0 11.0 4.32
------------------------------------------------------------------------
211.0 238.0 27.0 0.42
------------------------------------------------------------------------
337.9 367.9 30.0 1.19
------------------------------------------------------------------------
450.9 474.9 24.0 0.97
------------------------------------------------------------------------
06-07 126.0 151.0 25.0 0.38
------------------------------------------------------------------------
156.0 182.0 26.0 0.33
------------------------------------------------------------------------
256.0 279.0 23.0 1.12
------------------------------------------------------------------------
330.0 342.9 12.9 2.00
------------------------------------------------------------------------
367.9 429.9 62.0 0.78
------------------------------------------------------------------------
06-08 21.0 40.0 19.0 0.35
------------------------------------------------------------------------
145.0 163.0 18.0 1.52
------------------------------------------------------------------------
360.9 377.9 17.0 1.40
------------------------------------------------------------------------
360.9 413.9 53.0 1.04
------------------------------------------------------------------------
399.9 413.9 14.0 1.52
------------------------------------------------------------------------
459.9 476.6 16.7 0.54
------------------------------------------------------------------------
06-09 52.0 62.0 10.0 0.65
------------------------------------------------------------------------
91.0 104.0 13.0 0.41
------------------------------------------------------------------------
134.0 150.0 16.0 0.40
------------------------------------------------------------------------
134.0 227.0 93.0 0.74
------------------------------------------------------------------------
300.0 303.4 3.4 5.83
------------------------------------------------------------------------
06-10 115.3 284.6 169.3 1.02
------------------------------------------------------------------------
319.9 329.6 9.7 1.19
-------------------------------------------------------------------------
-****-
The geological information for the Magino project has been reviewedand approved by Quentin J. Browne, Prodigy Gold's Magino ProjectManager, who is a qualified person under the definitions established byNational Instrument 43-101. Prodigy Gold QA/QC procedures are asfollows: Prodigy Gold channel samples are 5 cm wide cut perpendicularto the strike of the vein and/or shear zone from mapped alteration inthe footwall continuously through the vein and/or shear zone and intomapped alteration in the hanging wall. Channels are cut with amotorized circular saw to a depth of 10 cm and removed with ahammer. Channel sample spacing is nominally every 20m along strike,dependent on outcrop size and geometry. Sample intervals are selectedaccording to geologic contacts and visible mineralization, placed into asample bag, and shipped to the assay lab for quantitative analysis ofselect elements. Prodigy Gold drill cores are split down the centerwith a typical table feed circular rock saw or are split with ahydraulic slitting device. Sample intervals are selected according togeologic contacts, visible mineralization, and alteration, placed intosample bags and shipped to the assay lab where they are quantitativelyanalyzed for select elements. Drill cores are boxed, covered, andsealed at the drill rig and moved to the Prodigy Gold logging and samplepreparation facilities by Prodigy Gold personnel. Prodigy Gold anglecore holes are directed perpendicular to the mapped dip of the veintherefore reported drill hole intercepts approximate true thickness ofthe vein. All Prodigy Goild samples are currently being assayed byChemex ALS, 2090 Riverside Dr,Timmins, ON P4R 0A2. Blank and standardsamples are routinely submitted with all sample batches sent to the labfor assay. Samples are routinely sent to other labs for additionalchecks.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Prodigy Gold Incorporated
Email: ir@prodigygold.com
Website:
www.prodigygold.com Tel.: 1-604-688-9006
Fax: 1-604-688-9029
Neither TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.This release may contain forward-looking statements or statements thatrelate to programs that involve a number of risks anduncertainties. Actual events or results could differ materially fromthe Company's expectations and projections.
Source: Prodigy Gold Inc. (TSX-V: PDG)
https://www.kodiakexp.comMaximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com