PRX-NTGS-PHD Collaboration Drilling Program PHD Diamond Drilling 2021 EL 31331

Abstract

The PHD prospect is an 11km soil gold anomaly within the greater Hyperion Project, located 30km northwest of the existing 4.93Mt @ 1.95g/t 310koz gold resource1 and 40km north of Northern Star's 1.1Moz Groundrush Resource (Figure 3). Shallow RC drilling by previous owner Ord River Resources in 2005 and 2006 defined gold within two zones over 3.5km of strike at PHD. Sampling along strike of the historic anomalism extended the soil gold anomaly over the structure to 11km in length (Figure 2). Airborne magnetic surveying completed in 2019 highlighted the extensions of the structure along strike and the potential for parallel structures. Prodigy drilled a single NTGS co-funded diamond hole (PHDDD2101) to a total depth of 240.7m to test the possible extension to historically defined RC mineralisation, better understand the potential for structural control and confirm the stratigraphic sequence. Previous RC drilling in the area returned favourable Au results, including 8m at 2.12g/t Au from 55m to EOH, including 1m at 9.37g/t Au from 63m to EOH (FM06RC586). Sampling along strike of the historic anomalism extended the soil gold anomaly over the structure to 11km in length. No diamond drilling has previously been completed in the area. The completed NTGS co-funded hole at PHD in 2021 tested and closed off this mineralisation, as previously modelled. The hole provided coherent bedrock samples that returned valuable structural data and geological information and has improved the understanding of the facies and stratigraphy. The drilling intercepted fine-grained sediments with abundant structural deformation. Mineralisation associated with the structural deformation/shearing included replacement of sediment bands with quartz veining +- pyrrhotite/pyrite as well as localized breccia and shearing. Sulphide mineralisation was generally poor, with pyrite locally more abundant within darker/reduced shale units and interpreted primarily as diagenetic. Abundant sericite alteration was observed in conjunction with structural deformation. The hole terminated in undeformed/unmineralised interbedded siltstones and shales. No significant gold mineralisation was observed or returned from laboratory analyses. No further drilling is being considered at PHD at this time, however a reinterpretation of mineralisation following from structural information obtained in this hole could be considered. The PHDDD2101 drilling project successfully achieved its primary objectives, having investigate along strike from the previously defined mineralisation and determined stratigraphic relationships with structural observations.