Prodigy Gold Drills 600m Deep to Test Untouched Gold Target at Hyperion
Key Takeaways
- A diamond drill rig has arrived at Prodigy Gold's Hyperion Gold Deposit, with hole HYDD26001 — a single ~600m HQ diamond hole — set to be the deepest ever drilled at the Tanami North project.
- The target is a high-priority IP chargeability anomaly located approximately 300m south of the existing Hyperion Mineral Resource, in ground that existing drilling has not effectively reached at depth.
- Hyperion carries an Inferred and Indicated Mineral Resource of 9.8Mt at 1.4g/t Au for 454,000 ounces, with mineralisation open along strike and at depth, and a 2024 intercept of 10m @ 15.9g/t Au demonstrating higher-grade potential below the current resource.
- The program is co-funded by the Northern Territory Government's Geophysics and Drilling Collaborations Program, which awarded $112,152 to Prodigy Gold — support the company says prevented an indefinite delay.
- A CSIRO structural study completed in September 2026 identified two stages of gold mineralisation at Hyperion, with oriented core from this hole designed to test and extend those findings into the deeper southern system.
Diamond drill rig arrives at Hyperion as Prodigy Gold targets deep gold system
Prodigy Gold has announced that a diamond drill rig has arrived at its Hyperion Gold Deposit in the Northern Territory, with drill commencement imminent. The program comprises a single approximately 600m HQ diamond hole (HYDD26001), designed to test a high-priority induced polarisation (IP) chargeability anomaly located approximately 300m south of the existing Hyperion Mineral Resource, in ground that existing drilling has not effectively reached at depth.
The program is co-funded under Round 19 of the Northern Territory Government’s Geophysics and Drilling Collaborations Program, with $112,152 (inclusive of GST) awarded to the company. Prodigy Gold noted in its announcement that without this level of support, the program may have been delayed indefinitely while funding was sourced.
When big ASX news breaks, our subscribers know first
What is IP geophysics and why does it matter for gold hunters?
Dipole-dipole induced polarisation (IP) surveying measures how rocks hold an electrical charge after a current is passed through them. Underground sulphide minerals, which can hold that charge, produce a detectable “chargeability” response at surface.
That matters because sulphide minerals such as pyrite and arsenopyrite commonly travel with gold in Tanami-style deposits. An IP anomaly is therefore a meaningful targeting signal, not background noise. Here is the key distinction:
- What IP detects: Zones of elevated sulphide content at depth, expressed as a chargeability anomaly in the geophysical data.
- What that means for gold: Sulphide-rich zones in this geological setting are interpreted as potentially associated with gold mineralisation, making them priority drill targets.
If this hole confirms a sulphide-rich source beneath the IP anomaly, it would validate IP surveying as a systematic targeting tool across the broader Tanami North corridor, potentially unlocking additional drill targets beyond Hyperion itself.
Inside the Hyperion drill program
The target — a deep, untested IP anomaly
The target sits south of the Tethys and Seuss lodes, in a part of the deposit where existing drilling is predominantly shallow to moderate in depth, generally reaching only 200–250m vertically. The new hole is designed to reach approximately 600m downhole depth, making it the deepest hole drilled at the Tanami North project to date.
The collar is positioned approximately 300m from the current Mineral Resource footprint, representing a genuine step-out into largely untested ground. The anomaly is interpreted as a potential sulphide-rich zone that may represent an extension, a parallel structure, or a down-plunge continuation of the broader Hyperion mineral system.
What the drill hole will tell us
The principal objectives of HYDD26001 are:
- Directly test the source of the deep IP chargeability anomaly and determine its relationship to sulphide abundance and the potential for previously undefined gold mineralisation within the greater Hyperion Deposit.
- Assess whether mineralisation extends below the known lodes into a broader or parallel structural corridor.
- Collect oriented core to improve understanding of lithology, vein architecture, alteration assemblages, and structural fabrics at depth.
- Collect detailed geochemical analysis of potential sulphides at depth to correlate results with the recently completed CSIRO structural study.
- Provide geological information to guide future step-out drilling and assessment of additional blind targets along the Hyperion corridor.
Planned drill hole — key technical details
| Hole ID | Dip / Azimuth | Planned Depth | Core Size | Datum / Zone |
|---|---|---|---|---|
| HYDD26001 | -65° / 000° | ~600m | HQ | GDA94 / Zone 52 |
Building on a 454,000-ounce foundation
Hyperion carries an Inferred and Indicated Mineral Resource of 9.8Mt at 1.4g/t Au for 454,000 ounces of gold, reported above a 0.5g/t Au cut-off and extending to approximately 180m below surface. Mineralisation remains open along strike and at depth.
The potential for higher-grade material below the current resource was demonstrated in 2024, when deeper RC drilling returned 10m @ 15.9g/t Au in hole HYRC24004, intersecting the Seuss lode before continuing into the Tethys lode. Prodigy Gold’s total Mineral Resource inventory across all projects stands at approximately 1.05Moz of gold.
Confidence in the deeper southern domain is underpinned by a collaborative Prodigy Gold–CSIRO structural study, completed in September 2026, which identified two stages of gold mineralisation at Hyperion. Stage 1 comprises high-grade native gold associated with fault breccias and extensional veins; Stage 2 overprints this earlier event, hosted in fault breccias where gold is associated with arsenic-rich pyrite and antimony-rich arsenopyrite. Oriented core from HYDD26001 will allow these findings to be tested and extended into the deeper southern part of the system.
Mark Edwards, Managing Director, Prodigy Gold
“The commencement of this diamond hole will be an important next step in testing the scale potential of the Hyperion mineral system. The target is a discrete, deep IP geophysical anomaly outside the current drilling footprint and provides an opportunity to test for a deep sulphide-associated gold system below the currently defined mineralised lodes.”
“A positive result would open a significant new area for follow-up drilling potentially leading to resource growth and provide further support for the use of IP as a targeting tool across the broader Tanami North mineralised corridor.”
The next major ASX story will hit our subscribers first
What comes next
Once drilling is underway, the company’s planned next steps include:
- Complete HYDD26001 to the planned target depth of approximately 600m, subject to ground conditions and geological observations.
- Complete geological and structural logging, core orientation, and sampling.
- Undertake multi-element geochemistry and selected petrographic work to characterise the target and mineralised system.
- Integrate drilling results with the 2025 IP dataset and the CSIRO structural model to refine follow-up targets.
- Report material assay results to market when available.
On the broader project front, EIS baseline data collection is continuing to support the potential Environmental Impact Statement required for Mineral Lease approval. Mining Agreement negotiations with the Central Land Council and Traditional Owners are ongoing and are expected to continue into 2027.
Separately, the company noted that preliminary discussions with Tanami Gold NL (ASX: TAM) regarding the Hyperion Project have been put on hold due to other priorities for both parties.
Don’t Miss the Next ASX Gold Discovery
Get FREE breaking ASX gold news delivered to your inbox within minutes of release, complete with in-depth analysis. Join 30,000+ subscribers already ahead of the market by clicking the “Free Alerts” button at Discovery Alert and receive the moment market-moving gold sector news breaks.