Prodigy Gold Announces Engineering Team for Updated Magino Resource Estimate and PEA
11 Enero 2011 - 1:49PM
Marketwired
Prodigy Gold Incorporated (TSX VENTURE: PDG) is pleased to announce
that it has retained the services of CWA Engineers, Snowden Group
and Knight Piesold as the engineering team to prepare an updated
National Instrument 43-101 compliant gold resource estimate and
Preliminary Economic Assessment (PEA) of its 100% owned Magino Mine
project located in Ontario. CWA will oversee the entire process,
concentrating on the PEA, costing and process facilities. Snowden
will calculate the resource estimate, conduct pit optimization
studies, mine planning and scheduling. Knight Piesold will focus on
tailings and waste rock disposal as well as environmental matters.
Prodigy Gold and its engineering team are evaluating the Magino
Mine project as an open-pit mining opportunity with the potential
for deeper, higher grade gold production The resource estimate for
Magino will serve as the basis for the PEA, establishing the
economic parameters of mining operations. The PEA is anticipated to
lead to a full feasibility study, projected for 2012. The updated
gold resource estimate is expected in late February, 2011 with the
PEA to follow in early April, 2011.
About CWA Engineers Inc.: CWA is a premier consulting
engineering and project management firm with a continuous track
record of project success for its industry leading clients. CWA has
expertise in the planning and design of mine site infrastructure
including roads and access, power supply systems, water supply
systems, ROM stockpiling and crushing, process plant facilities,
storage and reclaim, truck and rail loading facilities, personnel
facilities and site wide utilities. CWA staff have managed
feasibility studies, engineering, equipment procurement, and
construction in various successful mining projects in remote sites
in Northern Canada, the Arctic, Untied States, China, Africa and
Russia. The CWA head office is located in Burnaby, B.C., and has
branch offices in Kamloops, B.C. and Miami, Florida, USA.
About Snowden Group: Snowden is a premium provider of consulting
services, technology solutions and technical training to the mining
industry and related sectors. Snowden has extensive global
experience in resource estimation for gold and other commodities,
and in undertaking mining studies from Preliminary Economic
Assessments through full Feasibility studies. Snowden's Vancouver
office will be group for the Magino Mine project.
About Knight Piesold: Knight Piesold is an international
consulting company offering engineering and environmental services
in mining, hydropower and water resources industries. Knight
Piesold has completed numerous mine waste/water management designs
and cost estimates, environmental impact assessments and permitting
for mining projects around the world. Knight Piesold Canada has
offices in Vancouver, British Columbia and North Bay, Ontario.
About Prodigy Gold: Prodigy Gold Incorporated (TSX VENTURE: PDG)
was created by unifying the assets of two Canadian Junior
exploration companies: Kodiak Exploration Limited and Golden Goose
Resources Inc. Prodigy is currently evaluating the Magino Mine
project in Ontario as an open-pit mining opportunity with the
potential for deeper, higher grade gold production The company is
producing a new N.I. 43-101 compliant resource estimate for Magino
that will serve as the basis for a Preliminary Economic Analysis
(PEA), establishing the economic parameters of an open pit mining
operation. The PEA is expected to lead to a full feasibility study,
expected in 2012. Bringing the Magino Mine project through the
feasibility process and towards production, coupled with the
exploration potential of our Beardmore-Geraldton exploration
properties, are the catalysts to growing Prodigy Gold, building
substantial value for Prodigy shareholders: Today's Discovery,
Tomorrow's Future.
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
Goild 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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