Helimag survey confirms excellent potential of Aceh gold-copper project: Prosperity

ASX-listed firm Prosperity Resources Limited said on Wednesday the first images from its regional helicopter-borne magnetic survey, which conducted during August over its licenses in southern Aceh province showed excellent results.

?The magnetic survey produced excellent results from Panton Luas, Mutiara and Pelumat prospects. The survey results extend the size of all three prospects and follow up work will start in the coming weeks,? the company said in statement.

The survey has defined several new significant targets with similar characteristics to those already explored including potential high grade Au-Cu skarn and porphyry hosted mineralisation within the major controlling structural corridor in the Prosperity licenses.

Prosperity will commence an initial 5,000 metre diamond drilling program at Mutiara and Panton Luas at the end of September, it said.

Chairman Mo Munshi said ?the helimag survey results suggest that a potentially significant belt containing unexplored mineralisation has been defined within Prosperity?s licenses. Several potential porphyry centres and high grade skarn occurrences within the 60 kilometre strike length of our land package are highlighted. Our field observations and surface sampling results at existing targets correlate closely with magnetic results from the helimag survey which gives us increased confidence to start drilling on our known targets and send our geological team to the new target areas.? (denny)