AI
Prodigy Gold has released an updated NI 43-101 compliant
mineral resource estimate for the Magino mine project
http://www.theaureport.com/cs/user/download/co_file/2172/PRODIGY_GOLD__Presentation_15APR2011.pdf
(please see Press Release dated February 28, 2011).
The updated mineral resource estimate, reported within
a conceptual pit shell, was completed by Snowden Mining
Industry Consultants Inc. (Snowden) of Indicated gold
resources of 1,924,200 ounces grading 1.16 gpt gold
(51.6M tonnes), a more than four-fold increase in Measured
and Indicated gold resources over the previous resource
estimate that was focused on higher grade underground
mineable zones (InnovExplo Technical Report
issued 28 May, 2009).
Using the same cut off grade (0.35 gpt gold), the Magino deposit
is also estimated to contain 587,100 ounces of Inferred
gold resources grading 1.04 gpt gold (18.3M tonnes).
A complete Technical Report will be filed on SEDAR within 45
days of the distribution of the press release.
The resource estimate is set out in the table below and
reported at a series of cut off grades.
Indicated http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=PDG&t=LIST&m=29686652&l=0&pd=0&r=0
Prodigy believes that the revised Magino resource estimate is significant for several reasons:
Prodigy anticipates that the new resource estimate will have a significant positive impact on the planned, upcoming PEA, due in April 2011.
The Magino project has a good average gold grade by open pit mining standards and locally exhibits zones of higher grade gold mineralization that extend to the surface. This geometry should enhance the pit optimization studies that are part of the ongoing PEA process. The PEA will examine mining and processing costs in detail and utilize a lower gold price for the base case economic analysis.
Deeper gold mineralization, drilled to a depth of only 600 metres and completely open, shows that the Magino gold system has the potential to grow further with additional exploration, not only along strike but at depth as well. The potential for deeper, high grade gold mineralization, has not been tested to date.
In-fill drilling, guided in part by the results of this resource estimate, can add additional gold resources to Magino. Data from the on-going in-fill drilling program will be incorporated into a further update to the project gold resource estimate as Prodigy moves the Magino project towards full feasibility.
The overall size of the Magino gold system as documented by this updated resource estimate confirms the growing gold budget of the district and underscores the exploration upside of the area.
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=17013
http://www.resourceintelligence.net/prodigy-gold-3d-drill-tour-magin/15280
mineral resource estimate for the Magino mine project
http://www.theaureport.com/cs/user/download/co_file/2172/PRODIGY_GOLD__Presentation_15APR2011.pdf
(please see Press Release dated February 28, 2011).
The updated mineral resource estimate, reported within
a conceptual pit shell, was completed by Snowden Mining
Industry Consultants Inc. (Snowden) of Indicated gold
resources of 1,924,200 ounces grading 1.16 gpt gold
(51.6M tonnes), a more than four-fold increase in Measured
and Indicated gold resources over the previous resource
estimate that was focused on higher grade underground
mineable zones (InnovExplo Technical Report
issued 28 May, 2009).
Using the same cut off grade (0.35 gpt gold), the Magino deposit
is also estimated to contain 587,100 ounces of Inferred
gold resources grading 1.04 gpt gold (18.3M tonnes).
A complete Technical Report will be filed on SEDAR within 45
days of the distribution of the press release.
The resource estimate is set out in the table below and
reported at a series of cut off grades.
Indicated http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=PDG&t=LIST&m=29686652&l=0&pd=0&r=0
Prodigy believes that the revised Magino resource estimate is significant for several reasons:
Prodigy anticipates that the new resource estimate will have a significant positive impact on the planned, upcoming PEA, due in April 2011.
The Magino project has a good average gold grade by open pit mining standards and locally exhibits zones of higher grade gold mineralization that extend to the surface. This geometry should enhance the pit optimization studies that are part of the ongoing PEA process. The PEA will examine mining and processing costs in detail and utilize a lower gold price for the base case economic analysis.
Deeper gold mineralization, drilled to a depth of only 600 metres and completely open, shows that the Magino gold system has the potential to grow further with additional exploration, not only along strike but at depth as well. The potential for deeper, high grade gold mineralization, has not been tested to date.
In-fill drilling, guided in part by the results of this resource estimate, can add additional gold resources to Magino. Data from the on-going in-fill drilling program will be incorporated into a further update to the project gold resource estimate as Prodigy moves the Magino project towards full feasibility.
The overall size of the Magino gold system as documented by this updated resource estimate confirms the growing gold budget of the district and underscores the exploration upside of the area.
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=17013
http://www.resourceintelligence.net/prodigy-gold-3d-drill-tour-magin/15280
My opinions are my own and and DD I post should be confirmed as unbiased
