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PRODIGY GOLD NL AGM Information 2022
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AGM Information
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Focused Northern Territory Gold Explorer Tanami and Lake Mackay Projects
AGM November 2022
IMPORTANT INFORMATION
This presentation has been prepared by Prodigy Gold NL ("Prodigy Gold" or the "Company"). This presentation is for information purposes only and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.
This presentation contains forecasts and forward looking statements and information which are based on internal business data and information obtained from external sources. Forward looking statements may be identified by the use of words such as "anticipate", "expect", "estimate", "planned", "forecast", "likely", "intend" and other similar expressions. Such forecasts and information are not a guarantee of future performance and involve unknown risks, uncertainties and contingencies which may impact future outcomes on the Company. Actual results and developments will therefore almost certainly differ materially from those expressed or implied. Prodigy Gold has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by law, Prodigy Gold makes no representation and gives no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this presentation.
The information in this presentation is given in summary form and does not purport to be all inclusive or contain all information which you may require in order to make an informed assessment of the Company's prospects. Nothing contained in this presentation constitutes investment advice, financial product advice or legal, tax, accounting or other advice, nor does it take into accountthe financial situation, objectives or needs of any person. Prodigy Gold is not licensed to provide financial product advice.
You should not act or refrain from acting in reliance on this presentation material. You should conduct your own investigation, perform your own analysis and obtain independent professional advice, in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation and in making any investment decision in respect of Prodigy Gold.
COMPETENT PERSONS STATEMENT
The information in this presentation relating to exploration targets and exploration results is based on information reviewed and checked by Mr. Mark Edwards, FAusIMM, MAIG. Mr. Edwards is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and a Member of the Australasian Institute of Geoscientists (AIG). Mr. Edwards is a full time employee of Prodigy Gold NL and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr. Edwards consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.
This presentation contains information of results from previous ASX announcements: ASX (TAM) 24/11/2022 – Mineral Resource Updates Completed for five Gold Deposits on the Central Tanami Project Joint Venture Yields 1.5M ounces – Graeme Thompson (MAusIMM) who was at the time an employee of MoJoe Mining Pty Ltd. ASX: 24/08/2022 - Annual Mineral Resource Statement, by Mr. Mark Edwards (FAusIMM) who was at the time of release a full-time employee of Prodigy Gold. ASX 8/08/2022 – Lake Mackay Drilling Results – Edward Keys (MAIG) who is a full time employee of Prodigy Gold. ASX 29/06/2022 – Exploration activities for the Lake Mackay and Hyperion Projects and Corporate update – Mark Edwards (FAusIMM, MAIG) who is a full time employee of Prodigy Gold. ASX 18/05/2022 – Lake Mackay JV – Agreement and Exploration Update – Mark Edwards (FAusIMM, MAIG) who is a full time employee of Prodigy Gold. ASX 29/4/2022 - Prodigy Gold Signs Agreement over Old Pirate Project and Tanami Exploration Tenements – Edward Keys (MAIG) who is a full time employee of Prodigy Gold. ASX 29/11/2021 – Progress Results for Buccaneer Diamond Drilling - Mr. Matt Briggs (MAusIMM) who was at the time of release a full-time employee of Prodigy Gold. ASX 15/11/2021 – Historic High Grades Confirm Potential of Tregony System – Adriaan van Herk (MAIG) who was at the time a full-time employee of Prodigy Gold. ASX 6/10/2021 – Drilling Extends Shallow Gold Mineralisation at Buccaneer Heap Leach Scoping Study Advances - Mr. Matt Briggs (MAusIMM) who was at the time of release a full-time employee of Prodigy Gold. ASX 26/05/2021 – High Grade Copper Intersections at the Phreaker Prospect - Doug Winzar (MAIG) who was at the time a full-time employee of IGO Limited. ASX: 17/12/2021 - Exceptional Results in Buccaneer Diamond Drilling, by Mr. Matt Briggs (MAusIMM) who was at the time of release a full-time employee of Prodigy Gold. ASX (VAN Prev ORD) 23/10/2012 – Suplejack Project Update – Murray Hutton (MAIG) who was at the time of the release an employee from Geo Mining. ASX (VAN Prev ORD) 26/11/2012 – Statement of Mineral Resources – Tregony Prospect Suplejack Gold Project, Northern Territory – Murray Hutton (MAIG) who was at the time of the release an employee from Geo Mining. ASX 21/10/14 – Suplejack Option Provides Additional High-Grade Gold Targets for Possible Second Discovery Camp in the Northern Tanami, NT – Jonathan King (MAusIMM) who at the time was an employee of Geonomics Australia Pty Ltd.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Refer to previous Company ASX announcements for full resource estimation details, drill hole details, and intercept calculations. Prodigy Gold NL confirms that it is not aware of any new information or data that materially affects the information included in the market announcement and that all material assumptions and technical parameters underpinning the estimates included in referenced previous market announcements continue to apply and have not materially changed.
The Company cautions that the previous 2004 Tregony Mineral Resource is not reported in accordance with the JORC Code 2012. A Competent Person has not yet done sufficient work to classify the estimates of Mineral Resources in accordance with the JORC Code 2012. Prodigy Gold notes that nothing has come to its attention that causes it to question the accuracy or reliability of the former owner's estimate as first announced by Ord River Resources in ASX release dated 26 November2012, however the Company is in the process of independently validating the former owner's data and estimates and therefore cannot be regarded as reporting, adopting or endorsing those estimates.
Approved for release by the Board of Directors.
Corporate Snapshot
| CapitalStructure | ASX:PRX |
|---|---|
| Shares on Issue | 1,747.9m |
| Unlisted options | 6.725m |
| Cash as at 30 September 2022 | A$0.8m |
| Gross proceeds from capital raising Oct 22 | A$11.65m |
| Repayment of loan facility –Oct 22 | A$2.5m |
| Market Cap(as at 27/11/22) | A$21m |
Shareholding Structure
| Board of Directors | |
|---|---|
| Gerard McMahon | Chairman |
| Mark Edwards | Managing Director |
| Brett Smith | Executive Director |
| Neale Edwards | Non-Executive Director |
Share Price Chart
JVs
1.0Moz
Prodigy Gold – Background
Gold Focused Explorer, concentrated around the World Class Tanami Region of the NT
Greenfields and brownfields portfolio in highly prospective Tanami region
- Significant strategic land holding in proven Tanami gold province
- Region is home to one of Australia's most successful gold mines Newmont's Callie operation – our tenements are located around the mining area
- Region where Australian Majors are exploring Newmont, Northern Star, IGO
Advancing 100% owned priority projects
- Extensive resource definition programs planned to advance current resources
- 15.7Mt @ 2.0g/t for 1.0Moz1 gold total Inferred and Indicated resources
- Includes Old Pirate Resource that is part of Stockton sales agreement which is still to be completed
- Excludes historical mineral resource estimate at Tregony, which is now under internal review – North of Hyperion mineral resource
Accelerating gold and base metal projects with Australian Majors
- 3 x IGO JVs over Lake Mackay IGO 2.82% holder of Prodigy Gold shares
- Newmont to spend $12M to earn up to 70% of Tobruk + $2.5m cash + financing
- Newmont to spend $6M or define JORC Inferred Resource to earn 51% of Monza
1 See ASX: 24 August 2022
Prodigy Gold – Achievements from past year
Exploration resuming after Covid-19 Challenges
Prodigy Gold remained active in the NT with site access now back to pre-Covid conditions
- Lake Mackay Activities
- Changes to JV with IGO Gold project now 70%:30% JV with PRX holding 70% while Base Metals remain at 30%:70% with PRX at 30%. Achieved through sole funding of exploration works
- Gold Tenement activities 25 holes for 3,412 metres drilled into gold tenements on NT and WA tenements
- Base metal activities 1 diamond hole completed into Phreaker deposit with encouraging results
- Tanami Projects
- Old Pirate Sale Working with Stockton Mining on sales agreement, expected to be completed in 2023
- Buccaneer Project metallurgical testwork continues on heap leach properties as part of scoping study
- Tregony Results- detailed review of historic drilling plus one new hole completed peak result of 5.15m @ 2.5g/t Au achieved at 53.3m depth down-hole1
- Joint Venture Projects
- Newmont Projects geochemical sampling, passive seismic and drilling on JV projects
- IGO Projects Prodigy has managed project throughout 2022 as part of restructured JV
- AG8 Projects Early stage exploration with soil and rock chip sampling
1 ASX: 17/12/2021
2021/22 Exploration Results
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Specific targeted drilling and exploration work in 2021/22:
- 11,520 meters drilled
- RC drilling
- Lake Mackay (E80/5001 & EL31234)
- Diamond drilling
- Lake Mackay Phreaker
- Tregony
- Golden Hind assaying of 2012 drilled hole
- PHD
- Reward
- Buccaneer
- Aircore drilling
- PHD
- Buccaneer
- Scoping Study Work (metallurgical testwork)
- Buccaneer: Column Leach test work
- Buccaneer: Geotechnical assessments
- Buccaneer: Mining options
2ASX 25/01/2022 1ASX 06/10/2021 3ASX 17/12/2021 4ASX 8/08/2022 5ASX 29/11/2021
1 ASX: 18/5/2022 2 ASX: 8/8/2022
Lake Mackay – Greenfield opportunity for discovery
Restructured JV's with IGO opening greenfield opportunities for Prodigy Gold
Prodigy Gold and IGO restructured the Lake Mackay JV project giving Prodigy Gold a larger position in the gold tenements while maintaining the same interest in the base metal projects
- Restructured Joint Venture
- Prodigy agreed to sole fund 24 RC and 3 diamond holes for a total spend of $500,000 on gold tenements and $850,000 on base metal titles to create 3 Joint Ventures1
- Gold JV PRX:IGO holding 70%:30% JV over all gold tenements
- Castile JV PRX:IGO:Castile 60%:26%:14% over EL31794
- Base Metal JV IGO:PRX 70%:30% JV over all base metal tenements
- Prodigy agreed to sole fund 24 RC and 3 diamond holes for a total spend of $500,000 on gold tenements and $850,000 on base metal titles to create 3 Joint Ventures1
- Gold Project Exploration sole funding now complete
- 25 holes for 3,412 metres drilled on NT and WA titles during the year
- Anomalous gold results reported in 3 holes1
- SGRC2207: 16m at 0.39g/t Au, 0.13% Cu and 1.00g/t Ag from 84m including 4m @
- 0.54g/t Au, 0.39% Cu and 2.8g/t Ag from 84m
- SGRC2208: 4m @ 0.47g/t Au from 84m
- RCRC2201: 4m @ 0.74g/t Au from surface
- SGRC2207: 16m at 0.39g/t Au, 0.13% Cu and 1.00g/t Ag from 84m including 4m @
- Base Metal Exploration sole funding to be completed with current drilling
- Drilling currently underway on 3rd hole at project results expected over wet season
- One hole completed during year with encouraging results2
- PRDD2202: 5.6m @ 0.23% Cu, 0.35% Zn, 1.21g/t Ag and 0.18g/t Au from 545m including 0.45m @ 1.15% Cu, 1.08% Zn, 6.0g/t Ag and 0.2g/t Au from 547.25m
Tanami Exploration – 2021/22 results
Sale of Old Pirate and work continues on Buccaneer & Tregony Projects
While Prodigy Gold continues to work with Stockton on the Old Pirate divestment, testwork continues on Buccaneer project for scoping study
- Old Pirate Sale
- Announced on 29 April 20221 Sale of the Old Pirate mineral lease plus 23 exploration licenses to Stockton Mining. PRX and Stockton working on several conditions precedent to complete the sales agreement
- Buccaneer
- Metallurgical testwork continues with view to understanding the heap-leach potential of the deposit. Will form part of scoping study on project that will include mining, processing and geotechnical considerations
- 17 aircore holes were drilled during the year, significant results for 3 holes included2:
- 6m @ 1.4g/t Au from 12m (BCAC21007)
- 9m @ 0.5g/t Au from 21m (BCAC21012)
- 6m @ 0.7g/t Au from 9m (BCAC21016)
- Tregony Deposit
- Review of historic drilling and results3
- 50,000m of AC/RAB, 14,300m of RC and 3,000m of diamond/RC-diamond
- Drilled one hole visible gold identified in hole4
- Peak result of 6.5m interval from 53.3m with 5.15m @ 2.5g/t Au recovered
- Review of historic drilling and results3
8
1ASX:29/4/2022 2ASX:6/10/2021 3ASX:15/11/2021 4ASX:17/12/2021
Prodigy Gold continues with substantial Joint Ventures
Working with A8G, IGO and Newmont Australia to advance exploration work in the NT
- Newmont Australia JV's
- Tobruk JV 75 Deep sensing geochemical survey points completed with 8 RC holes drilled towards the end of the financial year, no significant results were returned. Magnetotelluric (MT) geophysical survey completed on project
- Monza JV JV started November 2021, since then passive seismic geophysical surveys and 634 deep sensing geochemical survey points completed
- Australasian Metals Barrow Creek
- Australasian Metals (A8G) purchased 90% interest in the project in January 2022. During the year A8G completed geochemical sampling with peak results of 1018ppm and 554ppm Tantalum returned from EL285151
- IGO JV
- Prior to the restructure IGO completed drilling on the Phreaker deposit in 2021
- Prodigy Gold has managed the project since the JV restructure during the sole funding period. The diamond hole underway will complete the sole funding requirements of the JV's
- Prodigy Gold drilling down plunge of IGO 2021 hole 21PHDD002, which had results of:
- 4.5m @ 3.03% Cu, 1.78g/t Au and 14g/t Ag from 562m and
- 17.47m @ 2.13% Cu, 0.21g/t Au and 9g/t Ag from 575.23m2
1ASX:A8G 1/07/2022 2ASX:26/05/2021
9
Prodigy Gold Priorities – Tanami & Lake Mackay
Greenfields and Brownfields exploration
2023 Exploration Strategy
- Tanami North Exploration
- Boco North co-funded drilling program targeting Suplejack Shear Zone mineralisation potential below significant cover with no past drilling
- Tregony historical mineral resource, drilling planned to add confidence in past drilling and to also look at potential to extend the known mineralisation
- Hyperion large current mineral resource, drilling planned for metallurgical sampling as well as potential mineral resource growth
- Other Exploration investigate geophysical data as well as historic drilling to identify new targets or to update existing prospects
- Lake Mackay Exploration
- Base metal project Results for current drilling at Phreaker expected during NT wet season. Future programs pending analysis of results
- Gold Projects review the 2022 drilling results as well as all IGO captured geophysical and geochemical data to understand gold potential before next exploration campaign
10
Boco North – Greenfield target
Located on significant mineralized trend with no previous drilling
NT Government co-funding program to test potential mineralisation below cover1
- Boco North is located between two significant Mineral Resources which are part of the Central Tanami Project Joint Venture (CTPJV) between Tanami Gold (ASX:TAM) and Northern Star Resources (ASX:NST)
- Groundrush deposit (CTPJV) over 600,000 ounces of gold previously mined and now 1.1Moz Au in Mineral Resources reported2, this is a regionally significant deposit and sits around 60km to the south of the Boco North prospect
- Crusade deposit (CTPJV) a current mineral resource of 94,000 ounces of gold is reported2 for this deposit which is around 10km to the north of the Boco North prospect
- Hyperion deposit 100% PRX owned deposit of around 310,000 ounces of gold3 located around 40km to the south of the Boco North prospect
- Tregony historically reported mineral resource that sits around 20km to the south of the Boco North prospect
- Drilling planned
- Drill around 20 RC holes through the overlying non-prospective sedimentary cover sequence, targeting potential mineralisation related to the regional scale Suplejack Shear Zone
- Planned to be the first drilling campaign after the NT wet-season in early 2023
1ASX: 29/06/2022 2ASX:TAM 24/11/2022 3ASX: 31/07/2018
Tregony – Brownfield target
Hosts historic mineral resource – requiring update
Target ready for updating and exploration to expand and add confidence
- Historically reported mineral resource of around 62,700 ounces of gold reported by Ord River Resources (now ASX:VAN)1
- Located only 20km north of Prodigy Gold's Hyperion mineral resource and within the regionally significant Suplejack Shear Zone.
- Prospect is hosted in shallow dipping quartz vein arrays within Killi Killi formation with local high gold grades observed
- Data review completed on prospect noting a significant amount of drilling data available for use in a future mineral resource statement2
- Prodigy is currently working on an updated JORC 2012 compliant mineral resource estimate using the historic drilling with the one diamond hole completed in late 2021 forming part of this process.
- Exploration plans for Tregony in early 2023
- RC drilling program within the soon to be updated mineral resource estimate to add confidence in the work completed
- Other holes will be designed to extend the known mineralisation and to also provide additional support to lower confidence types of drilling such as RAB and Aircore.
- A program of around 2,500 metres of RC drilling is currently proposed 1ASX:VAN (Prev ORD) 26/11/2012 2ASX:15/11/2021 ASX:VAN (Prev ORD) 23/10/2012 ASX:21/10/2014
Hyperion – Significant Mineral Resource
310,000 ounces of gold hosted within 100% PRX project – looking for potential growth
Plans to drill around current Mineral Resource to identify potential for resource growth and to also supply samples for metallurgical testwork
- Hyperion is one of Prodigy Gold's important mineral resource deposits located on the same regional structure that hosts other Prodigy Gold prospects, such as Tregony and Boco North, but also hosts the significant Groundrush and Crusade gold deposits, part of the CTPJV between Tanami Gold and Northern Star Resources
- Reported mineral resource of 4.93Mt @ 1.95g/t Au for 310,000 ounces of gold1
- Mineralisation controlled by westerly striking faults at a high angle to the primary stratigraphy and structurally controlled
1ASX: 31/07/2018
- Mineralisation is disseminated in nature with some coarse gold observed
- Exploration plans for Hyperion in early 2023
- Small RC program to add confidence in current mineral resource estimation and to look for potential to grow the resources
- Some drilling will target the known mineralisation to collect metallurgical samples for testwork to determine the most appropriate recovery methods for this mineralisation
- Current plan is to drill around 1,000 metres of RC drilling in H1 2023
Contact us for further information
Prodigy Gold NL
ASX:PRX
+61 8 9423 9777
[email protected] [email protected]
Level 1, 67 Smith Street, Darwin NT 0800, Australia
| Indicated | Inferred | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Date | Cut-OffGrade(g/t) | Tonnes(Mt) | Grade(g/tGold) | Metal(Koz) | Tonnes(Mt) | Grade(g/t Gold) | Metal(Koz) | Tonnes(Mt) | Grade(g/t Gold) | Metal(Koz) | ResourceAuthor |
| Hyperion | July-18 | 0.8 | 0.92 | 2.35 | 69 | 4.02 | 1.86 | 240 | 4.93 | 1.95 | 310 | 1 |
| Buccaneer | Sept-17 | 1.0 | 1.19 | 1.67 | 65 | 8.77 | 1.84 | 520 | 10.0 | 1.82 | 585 | 2 |
| Old Pirate | Aug-16 | 1.0 | 0.04 | 4.58 | 7 | 0.72 | 4.71 | 109 | 0.76 | 4.71 | 115 | 3 |
| Total | 2.15 | 2.02 | 141 | 13.5 | 2.00 | 869 | 15.7 | 2.00 | 1,010 |
Total Resource inventory: 15.7Mt at 2.0g/t for 1.01 Moz of gold
Note: Totals may vary due to rounding. Tonnages reported as dry metric tonnes.
- 1 Optiro Pty Ltd
- 2 Optiro Pty Ltd
- 3 CSA Global
1ASX 31 July 2018; 2 ASX 1 Sept 2017 3ASX 19 Aug 2016
Competent Person Statement for Resources
IMPORTANT INFORMATION
Competent Persons Statement for the Mineral Resources
The information in this report that relates to Mineral Resource for Old Pirate was previously released to the ASX on the 19 August 2016 – Old Pirate Updated Mineral Resource Estimate. This document can be found at www.asx.com.au (Stock Code: PRX) and at www.prodigygold.com.au. The 19 August 2016 release fairly represents information reviewed by Mr. David Williams, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy. At the time of the 19 August 2016 release Mr. Williams was a full-time employee of CSA Global Pty Ltd. Mr. Williams had previously provided written consent for the 19 August 2016 release.
The information in this report that relates to Mineral Resource for Buccaneer was previously released to the ASX on the 1 September 2017 – Twin Bonanza – Buccaneer Resource Update. This document can be found at www.asx.com.au (Stock Code: PRX) and at www.prodigygold.com.au. It fairly represents information compiled by Mr. Matt Briggs who is a member of the Australasian Institute of Mining and Metallurgy and reviewed by Mr. Paul Blackney who is a member of the Australasian Institute of Mining and Metallurgy. At the time of the 1 September 2017 release Mr. Briggs was a full-time employee of ABM Resources NL (now called Prodigy Gold NL) and Mr. Blackney was a full-time employee of Optiro Pty Ltd. Mr. Briggs and Mr. Blackney had previously provided written consent for the 1 September 2017 release.
The information in this report that relates to Mineral Resource for Hyperion (previously called Suplejack) was previously released to the ASX on the 31 July 2018 – Suplejack Resource Update. This document can be found at www.asx.com.au (Stock Code: PRX) and at www.prodigygold.com.au. The 31 July 2018 release fairly represents data and geological modelling reviewed by Mr. Matt Briggs who is a member of the Australasian Institute of Mining and Metallurgy and grade estimation and Mineral Resource estimates reviewed by Mr. Ian Glacken who is a Fellow of the Australian
Institute of Geoscientists. At the time of the 31 July 2018 release Mr. Briggs was a full-time employee of Prodigy Gold NL and Mr. Glacken was a full-time employee of Optiro Pty Ltd. Mr. Briggs and Mr. Glacken had previously provided written consent for the 31 July 2018 release.
The Company confirms that it is not aware of any new information or data that materially affects the Mineral Resources as reported on the 19 August 2016, 1 September 2017 and 31 July 2018, and the assumptions and technical parameters underpinning the estimates in the 19 August 2016, 1 September 2017 and 31 July 2018 releases continue to apply and have not materially changed.
The information in this announcement relating to Mineral Resources from Old Pirate, Buccaneer and Hyperion is based on information reviewed and checked by Mr. Mark Edwards. Mr. Edwards is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code"). Mr. Edwards is a full-time employee of the Company in the position of Managing Director and consents to the inclusion of the Mineral Resources in the form and context in which they appear.
