Prodigy Gold NL announced an update on activities underway on its 100% owned Buccaneer Project in the Tanami region of the Northern Territory. Independent Metallurgical Operations Pty Ltd. (‘IMO') were engaged by Prodigy Gold in 2022 to undertake metallurgical test-work on a series of gold bearing diamond core samples from the Buccaneer Project to a scoping study level. The test-work was initiated to determine the amenability of oxide, transition and fresh (sulphide) lithographs to gravity gold, carbon-in-leach (‘CIL') and heap leach gold recovery.

The results released in this announcement relate to metallurgical analyses for previously reported holes BCDD2102, BCDD2103, BCDD2104 and BCDD2105 and BCDD2109. Metallurgical Diamond Drilling and Testwork Introduction: An 8-hole program of geotechnical and metallurgical diamond core drilling, completed at the end of 2021, aimed at providing samples for metallurgical recovery test-work and to optimise the crush size for multiple extraction scenarios. Preliminary metallurgical recovery test-work, including the testing of gold recoveries, leach times and consumption rates of key reagents, such as lime and cyanide, has now been completed.

Crushing test-work indices for the three categories of rock, oxide, transition and fresh, as well as intermittent bottle roll (‘IBR') tests at different crush sizes, and column leach tests were also completed during this process. The results of this test-work have now been reported and presented to the Company by IMO, along with recommendations for further test-work. The gravity gold and cyanide leach option resulted in the fastest kinetics with the oxide and transition composites achieving the highest overall recoveries compared with the column leach gold recoveries.

Sample Provenance: Prodigy Gold provided IMO with representative core samples from the diamond drilling campaign conducted at the Buccaneer Project in 2021. These samples were utilised throughout the test-work program to generate four (4) composites representing the different mineralisation sources for metallurgical test-work. The three main composites were generated as follows: Oxide; Transition; and Fresh.

Due to mass constraints within the oxide composite intervals, a fourth barren oxide composite was generated in order to conduct the oxide comminution test-work and reserve enough mass for leaching test-work. It is referred to as the ‘oxide comminution' composite. Samples provided included ¾ HQ drill core, with intervals selected based on head grade data and preparation of the three composites, representing the oxide, transition and fresh (sulphide) zones.

Comprehensive head grade analysis of defined composites was also required.