Prodigy Gold Advances Old Pirate Restart with Breakthrough Ore Sorting Results

Regulatory Pathway Clears Hurdles for Old Pirate Restart

Prodigy Gold (ASX:PRX) is steadily advancing approvals to recommence mining at its Old Pirate gold mine in the Northern Territory’s Twin Bonanza project. The company is targeting the final Environmental Mining Licence (EML) and Water Extraction Licence submissions in mid-2026, which are the last major regulatory steps before Stage-3 mining can begin.

The project benefits from a previously assessed Environmental Impact Statement (EIS) completed in 2014, which envisages an expanded open pit mining operation processing up to 240,000 tonnes per annum through an on-site gravity plant. Importantly, the Environment Protection and Biodiversity Conservation Act (EPBC) referral was re-assessed in 2026, with regulators confirming that no new conditions apply and the project can proceed under the prior assessment framework.

While a Deemed Mining Licence allows infrastructure upgrades on site, actual mining and processing await the new EML approval. Prodigy Gold has been working closely with the Northern Territory Environment Protection Authority and Department of Land Planning and Environment, receiving positive regulatory engagement to support the licence applications.

Exploration Drilling to Resume After 11 Years

The company has secured approval to conduct exploration drilling at Old Pirate for the first time since 2015. The upcoming program, planned for the September quarter of 2026, will deploy cost-effective Reverse Circulation pre-collars with diamond tails to test mineralisation below the current open pits and within inferred resource zones. This drilling aims to increase confidence in the existing Mineral Resource and potentially extend the deposit’s high-grade veins.

Ore Sorting Testwork Yields Ultra-High Grade Concentrate

Prodigy Gold reported compelling results from bench-scale ore sorting testwork conducted by TOMRA Sorting Mining using X-Ray Transmission (XRT) technology. The tests demonstrated that high-grade mineralised material from Old Pirate can be selectively upgraded, with one sample’s gold grade soaring from 322.3g/t to an extraordinary 2,647g/t Au in the sorted product fraction. This upgrade was achieved while rejecting 89% of the mass as waste.

Crucially, the sorting technology achieved 100% rejection of non-mineralised waste material, indicating strong potential for pre-concentration. TOMRA noted that the success is linked to the presence of coarse free gold and dense sulphide minerals, which generate a strong density contrast identifiable by XRT sensors. While contact-style mineralisation with more disseminated gold showed less pronounced upgrading, the results highlight ore sorting’s potential to reduce processing volumes and costs.

Old Pirate’s Resource and Development Potential

Old Pirate currently hosts a JORC-compliant Mineral Resource of approximately 115,000 ounces at 4.5g/t Au, contained within 0.8 million tonnes of material. The deposit is known for its coarse gold-bearing quartz veins, which lend themselves well to selective mining and ore sorting techniques. The resource remains open along strike and at depth, underpinning the rationale for the upcoming drilling campaign.

The project’s previous mining phases between 2013 and 2016 demonstrated the continuity of high-grade mineralisation and operational viability, with the on-site gravity plant still in place but requiring refurbishment. Stage-3 mining plans include expanding the open pit and processing ore at up to 30 tonnes per hour through the gravity plant, supported by new tailings infrastructure.

Next Steps in Metallurgical Testing and Approvals

Following the encouraging initial ore sorting results, Prodigy Gold intends to undertake bulk-scale sorting trials with larger sample volumes to validate scalability. Additional metallurgical studies, including gold deportment and sulphide association analyses, will refine understanding of how best to integrate ore sorting into processing flowsheets.

Management emphasises that while the bench-scale results are promising, further work is needed to confirm economic benefits and operational parameters. The company’s close engagement with regulators and Traditional Owners, along with the secured exploration drilling approval, positions Old Pirate for a potential mining restart pending final licence grants.

Prodigy Gold’s progress at Old Pirate complements its broader portfolio in the Tanami Region, where it recently secured government co-funding for deep drilling at the Hyperion deposit and advanced resource upgrades and scoping studies at other projects. These developments collectively enhance the company’s growth trajectory in a prolific gold province.