Prodigy Gold Reports New Core Assays From Magino: 169 Metres Grading 1.02 gpt Gold
05 Enero 2011 - 9:18AM
Marketwired
Prodigy Gold Incorporated (TSX VENTURE: PDG) is pleased to announce
additional assay results from its core sampling program at its 100%
owned Magino Mine project located in Ontario. Prodigy Gold
(formerly Kodiak Exploration) has been systematically sampling
previously unassayed sections of core from the 2006 drilling
campaign, concentrating on thick intervals of disseminated gold
mineralization adjacent to higher grade structures. Prodigy has
split and sampled over 2,800 metres of core and is utilizing the
new data in to update the gold resource estimate for the Magino
Mine project. Highlights from drill holes 06-01 through 06-10
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
utilized by Prodigy Gold to plan an extensive campaign of in-fill
drilling, expected to begin shortly. The drill holes reported here
are angle holes, therefore the depth below surface for these
intercepts is 71% to 86% of the down hole distance, within the
range of a potential open-pit mining operation. The geometry and
grade of the Magino gold system compares favorably to several large
scale low-grade gold systems currently being mined or under
development in eastern Canada.
As illustrated in the table below, gold mineralization is
pervasive in the Magino system. Complete results for drill holes
06-01 through 06-10 are included in the table below.
Gold Grade
Drill Hole From (m) To (m) Interval (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
reviewed and approved by Quentin J. Browne, Prodigy Gold's Magino
Project Manager, who is a qualified person under the definitions
established by National Instrument 43-101. Prodigy Gold QA/QC
procedures are as follows: Prodigy Gold channel samples are 5 cm
wide cut perpendicular to the strike of the vein and/or shear zone
from mapped alteration in the footwall continuously through the
vein and/or shear zone and into mapped alteration in the hanging
wall. Channels are cut with a motorized circular saw to a depth of
10 cm and removed with a hammer. Channel sample spacing is
nominally every 20m along strike, dependent on outcrop size and
geometry. Sample intervals are selected according to geologic
contacts and visible mineralization, placed into a sample bag, and
shipped to the assay lab for quantitative analysis of select
elements. Prodigy Gold drill cores are split down the center with a
typical table feed circular rock saw or are split with a hydraulic
slitting device. Sample intervals are selected according to
geologic contacts, visible mineralization, and alteration, placed
into sample bags and shipped to the assay lab where they are
quantitatively analyzed for select elements. Drill cores are boxed,
covered, and sealed at the drill rig and moved to the Prodigy Gold
logging and sample preparation facilities by Prodigy Gold
personnel. Prodigy Gold angle core holes are directed perpendicular
to the mapped dip of the vein therefore reported drill hole
intercepts approximate true thickness of the vein. All Prodigy Gold
samples are currently being assayed by Chemex ALS, 2090 Riverside
Dr, Timmins, ON P4R 0A2. Blank and standard samples are routinely
submitted with all sample batches sent to the lab for assay.
Samples are routinely sent to other labs for additional checks.
On behalf of the Board of Directors
Brian J. Maher, President and Chief Executive Officer
This release may contain forward-looking statements or
statements that relate to programs that involve a number of risks
and uncertainties. Actual events or results could differ materially
from the Company's expectations and projections.
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.
Contacts: Prodigy Gold Incorporated Brian J. Maher President and
Chief Executive Officer 1-604-688-9006 1-604-688-9029 (FAX)
ir@prodigygold.com www.prodigygold.com
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