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NORTH ARUNTA REGIONAL

NORTH ARUNTA REGIONAL PROJECT

The North Arunta Project comprises a 60 km stretch of Trans-Tanami Structure and the 180km long Barrow Creek Regional Corridor of large untested gold anomalies. The area hosts several historic Tin Mines.

The Project is located approximately 400km north west of Alice Springs with access via Stuart Highway or Tanami Road.

Joint Venture agreement

Prodigy Gold recently entered into a joint venture agreement with Thunderbird Metals Pty Ltd for the North Arunta Project. The Earn-in joint venture covers Prodigy Gold’s tenements at North Arunta which include the Barrow Creek and Lander River Projects. Thunderbird have since entered into a Heads of Agreement with Gladiator Resources Ltd and the project assignment was approved by Gladiator shareholders at their general meeting on 23 April 2018. Preparations for an exploration program are underway with initial activities to commence shortly.

As part of this agreement, Thunderbird Metals will earn up to 70% interest in the North Arunta project. The agreement aims to bring forward the potential for a major discovery at North Arunta, while Prodigy Gold focusses on its Tanami projects.

The Agreement is consistent with Prodigy Gold’s strategy to focus its resources and activities on its gold projects in the Tanami Region. Prodigy Gold will maintain exposure to the ongoing exploration and development of the North Arunta Project without additional financial commitment, given that it will be free-carried through to the completion of a bankable feasibility study on any of the tenements.

The main targets include:

  • Kroda – 14km of anomalism with 4 main target areas including drillhole intercepts of 57m@3.83g/t Gold and 29m @ 6.48g/t Gold.
  • Tulsa – 10km of anomalism.
  • Stafford – 20km of anomalism with 10 main target areas. Drillhole intercepts include 35m @2.02g/t Gold, and 2m @18.15g/t Gold. Rock chip results include >20 Copper and >200g/t Silver.
North Arunta Project Location Map