Prodigy Gold Inc fka PDG (PDG)

[NYBob]

Prodigy Drills 261 Metres Grading 1.19 gpt Gold at Magino,
Resource Update Planned for June

http://tmx.quotemedia.com/article.php?newsid=50822474&qm_symbol=PDG

Prodigy Drills 261 Metres Grading 1.19 gpt Gold at Magino, Resource Update Planned for June
Vancouver, British Columbia CANADA, April 30, 2012 /FSC/ -

Prodigy Gold Inc.
(PDG - TSX Venture, KX3 - FWB), Vancouver, British Columbia,
April 30, 2012 - Prodigy Gold Incorporated (PDG: TSX.V;
"Prodigy" or "the company") is pleased to announce results from
11,182 metres of diamond drilling completed at Magino Mine gold
project since March 20, 2012.
Highlights from the 43 diamond drill holes, part of a 60,000 metre drill campaign, are reported below and include 261.2 metres grading 1.19 gpt gold in drill hole MA12-290 (including 67.0 metres grading 1.84 gpt gold), 125.0 metres grading 1.37 gpt gold in drill hole MA12-264 and 109.0 metres grading 1.48 gpt gold in drill hole MA12-257 including 10.0 metres grading 9.52 gpt gold. Nearly all the drill hole results reported herein are in-fill and resource expansion drill holes within and below the main portion of the Magino gold deposit (please see a drill results table and location map below). The drill results confirm continuity within previously drilled gold mineralization at both shallow and deeper portions of the deposit and also expand the known gold system to depth. Over 40,000 metres of drilling have been completed, including the 11,182 metres reported above, since the last gold resource estimate was completed for Magino in November, 2011. As a consequence of this on-going and very successful drilling campaign, Prodigy plans to release an updated NI 43-101 compliant resource estimate in June, 2012 for Magino. The updated gold resource estimate will guide the company as it continues the scoping studies that will determine the ultimate scale of the proposed Magino open pit mining operation as the project is advanced through the feasibility process.

Brian J. Maher, President and CEO of Prodigy Gold commented: "The tremendous success of our infill and resource expansion drilling program, both at Lovell Lake and in the main Magino deposit, has prompted the company to plan for an updated gold resource estimate for the Magino project in June, 2012. In addition, the current drill results demonstrate excellent continuity within the Magino gold deposit in areas previously modeled as inferred resources (please see technical report dated November 2, 2011; filed on SEDAR and available on Prodigy's web site). As can be seen from the variable azimuths and inclinations of the drill holes in the accompanying table, we are carefully infill drilling at all levels of the deposit, potentially allowing the company to move inferred resources into higher confidence resource categories for the June, 2012 resource update. Deeper drill holes such as MA12-290 (262 metres grading 1.19 gpt gold) are expanding the deposit at depth, providing additional opportunities for gold resource expansion. We expect the June gold resource update to have a significant impact on our project scoping process in preparation for the Magino feasibility study. It is crucial that the company understands the ultimate resource potential for the Magino gold deposit as we determine the proper through-put rate for the proposed open pit mining operation".

http://www.prodigygold.com/_resources/news/PR_Magino_Drilling_30APR2012_FINAL.pdf
God Bless