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Rocksinmyhead

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05/05/21

12:04

Post #: 52951436
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Originally posted by Rocksinmyhead: ↑

'm not sure I've seen anything since the below statement from the 25th August 2020.

Old Pirate Mineral Resource
Old Pirate is a coarse gold-bearing quartz-vein system hosted by a sequence of intercalated sandstone and shale
horizons (turbidite sequence). Quartz veins ranging from 20cm to 6m in width host the gold mineralisation. The
mineralised quartz veins preferentially follow key shale horizons within the turbidite package. The key shale horizons
are generally thicker shales, with some up to 25m thick.
No drilling was completed at the Old Pirate Project in 2019/2020. The Mineral Resource has been reviewed and
determined to be current. During the reporting period TRL Tanami completed mining studies with aim to progress the
project to production. These studies confirm the reasonable prospects for economic extraction. The studies are not
presented as a scoping study and therefore the Company is unable to disclose results of these studies under ASX listing
rules.
Table 4. Old Pirate August 2020 Mineral Resource Estimate
Old Pirate Gold Deposit – Mineral Resource Estimate August 2016
Domain Classification Tonnes Grade (g/t) Metal (oz)
Western Limb Indicated 10,000 7.5 3,000
Inferred 280,000 5.5 49,700
Central Indicated 20,000 3.1 2,400
Inferred 420,000 4.2 56,300
East Indicated 5,000 7.6 500
Inferred 10,000 4.9 1,600
Golden Hind Indicated 5,000 3.5 500
Inferred 5,000 4.1 900
Sub-Total Indicated 40,000 4.6 6,500
Inferred 720,000 4.7 108,500
Total Indicated + Inferred 760,000 4.7 114,900
Note: Totals may vary due to rounding. The above Mineral Resource Estimate was first reported in 2016 (ASX: 19 August 2016).
Prodigy Gold announced an operator agreement with TRL Tanami Pty Ltd covering the Old Pirate Project during the
reporting period (ASX 3rd October 2019). Prodigy Gold retains ownership of the Mineral Resource until produced or the
mineral lease is acquired

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And this from a presentation 11/11/20...Note the highlighted comment around delay.

Old Pirate and Buccaneer
• Income from non-core asset
• TRL Tanami to operate Old Pirate Project
• 10-year agreement
• $2.3M cash + 2.5% NSR
• Option for NSR buyout for $3M
• Open pit and underground studies undertaken
• Mining commencement delayed by COVID-19 restrictions
• Other resources including Buccaneer
• Reassessing potential for stand alone development at
current gold price

PRX Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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First 3 Last

(20min delay)
Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $6.353M

Open	High	Low	Value	Volume
0.3¢	0.3¢	0.3¢	$3.684K	1.427M

Buyers (Bids)

No.	Vol.	Price($)
39	51488398	0.2¢

Sellers (Offers)

Price($)	Vol.	No.
0.3¢	15202853	16

View Market Depth

No.	Vol.	Price($)
38	51388398	0.002
20	74501598	0.001
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.003	15202853	16
0.004	10884492	13
0.005	3069001	6
0.006	1360001	4
0.007	600000	2

Last trade - 15.15pm 17/06/2024 (20 minute delay)

PRX (ASX) Chart

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