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Projects Overview
Pidgeon Molybdenum Deposit Project
Godfrey Gold Project, West Timmins, Ontario
Raney Township Gold Property, Timmins, Ontario
Big Mac Property, Sudbury, Ontario
The Shining Gold Property, Timmins, Ontario
The Gould Gold Property, Wawa, Ontario
Geneva Lake Gold Property, Sudbury, Ontario
Heyson Project, Red Lake, Ontario
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The Gould Gold Property, Wawa, Ontario
Prodigy Gold's Magino mine property is a past producing underground gold mine located 40 kilometres northeast of Wawa, Ontario, in Finan Township, approximately 14 kilometres southeast of the town of Dubreuilville. The property consists of seven patented mining claims, four leased mining claims and 69 unpatented mining claims totaling 2,204.495 hectares. Magino is being evaluated by Prodigy as an open-pit mining opportunity with the potential for deeper, higher grade gold production. The resource estimate for the project (see below) is the basis for a Preliminary Economic Assessment (PEA) establishing the economic parameters of an open pit mining operation. The PEA will provide the framework for a full bankable feasibility study expected in the first quarter of 2012. Bringing the Magino Mine project through the feasibility process and towards production has the potential to add substantial value to Prodigy share holders. Prodigy Gold has released an updated NI 43-101 compliant mineral resource estimate for the Magino mine project (see Press Release dated February 28, 2011). The updated mineral resource estimate, reported within a conceptual pit shell, was completed by Snowden Mining Industry Consultants Inc. (Snowden). Indicated gold resources are reported to be 1,924,200 ounces grading 1.16 gpt gold (51.6M tonnes), a more than four-fold increase in Measured and Indicated gold resources over the previous resource estimate that was focused on higher grade underground mineable zones (InnovExplo Technical Report issued 28 May, 2009). Using the same cut off grade (0.35 gpt gold), the Magino deposit is also estimated to contain 587,100 ounces of Inferred gold resources grading 1.04 gpt gold (18.3M tonnes). A complete Technical Report is filed on SEDAR.
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