Tuesday, 4 October 2011

Prodigy Gold selects Wardrop for Magino PEA and feasibility study update

Junior mineral explorer Prodigy Gold (CVE:PDG) said Tuesday it has inked an agreement with Wardrop, a Tetra Tech Company (NASDAQ:TTEK), to provide engineering and design services for the Preliminary Economic Analysis (PEA) and feasibility study at Prodigy's Magino mine in Ontario.
 
The PEA update, expected in November, will look at the impact of a likely increase in gold resources, metallurgical studies, pit design, a potential for expanding the proposed mill processing rate and the changing gold price environment on the project’s cash flow model.

Currently, Prodigy is evaluating the development of the Magino mine gold project as an open-pit mine, with a potential for deeper, higher grade gold production. It is situated 40 kilometres northeast of Wawa, Ontario, in the township of Finan.

The Magino project has indicated gold resources of 1.94 million ounces, grading 1.16 grams per tonne, as well as 587,100 ounces of inferred gold resources grading 1.04 grams per tonne.

No comments:

Post a Comment