Drilling Collaboration Final Report Newcrest Mining Ltd - Euro Project Joint Venture EL 26590

Abstract

This document is a submission as part of the final reporting of NTGS Geophysics and Drilling Collaboration Programme - Dune Southwest (2019 - 2020). The document is submitted on behalf of Newcrest Mining Ltd who is in a joint venture with Prodigy Gold NL (previously ABM Resources Ltd). On the 18th May 2018 ABM Resources (ASX: ABU) changed Company Name to Prodigy Gold NL (ASX: PRX). On the 3rd July 2018 Prodigy Gold NL and Newcrest Operations Ltd, a wholly owned subsidiary of Newcrest Mining Ltd, executed a Farm-In Agreement for Euro Project in the Tanami. EL 26590, where the relevant co-funded programme was conducted, is part of the Euro Project. Dune Southwest diamond drilling targeted an Oberon style fold-hosted orogenic gold (Au) system of significant bulk-tonnage amenable to Newcrest-scale operations. Shallow historic (<30m) drilling over the area was identified as ineffective in explaining the targeted magnetic anomaly due to an overlying cover sequence obscuring the geology and geochemistry. The 2km x 0.3km magnetic anomaly, remodelled from NTGS open file survey data, was interpreted to characterise an antiformal fold closure of Dead Bullock Soak Formation type stratigraphy, situated along a major structural splay to the Trans-Tanami Fault Corridor. One diamond drill hole (EUR0018) was completed to a depth of 600.5m. The drill program was conducted from 14/06/2019 to 28/06/2019. EUR0018 successfully intercepted arenaceous Killi Killi Formation (KKF) type sediments above a fault bounded and folded sequence of Dead Bullock Soak (DBS) Formation equivalent sediments. Stratigraphic comparison between EUR0018 and the DBS stratigraphy suggest the drill hole intercepted Madigan and Davidsons equivalent turbidite beds. Low detection multi-element analysis has facilitated regional stratigraphic fingerprinting which confirmed Dune Southwest stratigraphy as analogous to the DBS type stratigraphy via variations in Th/Sc and Zr/Sc ratios. Observations of bedding and sedimentary younging indicators in EUR0018 characterise tight parasitic type fold structures on the limb a larger F1 synform. The Dune Southwest anomaly did not return significant Au or pathfinder (As-Bi-Te) results with a maximum Au values of 0.15ppm.