Prodigy Gold's PhotonAssay Confirms High-Grade Gold Results at Tanami North
PRX (PRX) Share Update November 2024 Tuesday 26th
Prodigy Gold Confirms High-Grade Gold Results with PhotonAssay
Prodigy Gold NL has announced successful confirmation of high-grade gold results from its Tanami North Project using the innovative Chrysos PhotonAssay method.
Instant Summary:
- PhotonAssay results align with Fire Assay results for high-grade gold samples.
- High-grade intercept at Hyperion reported as 10m @ 15.6g/t Au.
- PhotonAssay provides fast, accurate, and environmentally friendly gold analysis.
Introduction to PhotonAssay
Prodigy Gold NL has utilized the Chrysos PhotonAssay method to confirm high-grade gold results from its 2024 drilling programs at the Hyperion and Tregony North areas of the Tanami North Project. This advanced analytical technique, developed by CSIRO, offers a non-destructive and highly accurate alternative to traditional Fire Assay methods.
The PhotonAssay method involves bombarding a 500-gram sub-sample with high-energy photons, which interact with the atomic nuclei of gold atoms, resulting in the emission of gamma rays. By measuring these gamma rays, the gold content can be accurately determined, offering a reliable check on the Fire Assay results.
Results and Analysis
The PhotonAssay results for thirty reverse circulation (RC) samples demonstrated a strong correlation with the Fire Assay results, confirming the high-grade nature of the samples. Notably, a high-grade intercept at the Hyperion site (hole HYRC24004) was consistent across both methods, with a reported grade of 10m @ 15.6g/t Au.
The coefficient of determination between the two methods was 97.59%, indicating excellent agreement and providing Prodigy Gold with confidence in the reproducibility of their results. This dual-method approach ensures robust quality control and enhances the reliability of Prodigy Gold's resource estimates.
Management Commentary
Mark Edwards, Managing Director of Prodigy Gold, emphasized the importance of using PhotonAssay as a complementary technique to Fire Assay. He noted that while Fire Assay is a benchmark technique, it can introduce variability due to sample handling and other factors. PhotonAssay, with its larger sample size and chemical-free process, minimizes biases and improves confidence in the data.
The confirmation of high-grade gold results using PhotonAssay is likely to positively impact Prodigy Gold's stock, as it strengthens the potential for future development of the Tanami North Project. The reliability of these results enhances investor confidence and supports the company's resource estimates, which could lead to increased interest and investment in Prodigy Gold.
Investor Reaction:
Analysts are likely to view the confirmation of high-grade gold results as a positive development for Prodigy Gold. The use of PhotonAssay provides a modern and reliable method for verifying gold content, which could be seen as a competitive advantage in the mining industry.
Conclusion:
Prodigy Gold's successful use of PhotonAssay to confirm high-grade gold results underscores the company's commitment to innovative and reliable resource analysis. Investors should watch for further developments at the Tanami North Project, as these results could signal significant growth opportunities for Prodigy Gold.