High grade Au-Cu discovered in Pelumat project
Wednesday, May 30 2012 - 06:23 AM WIB
ASX-listed mining company, Prosperity Resources Limited said that high grade gold-copper rich skarn has been discovered in outcrop, with 2 meters of continuous composite rock chip samples over one 30 meter section averaging 2.9 grams per ton (g/t) gold, 1.75 percent copper and 50 parts per million molybdenum in Pelumat Project in southern Aceh.
It said that individual high grade composites include 2 meters at 19.4g/t gold and 4.35% copper, 2 meters at 5.09g/t gold and 12% copper, and 2 meters at 4.55g/t gold and 3.64% copper.
Highly anomalous soil samples also occur with the highest values ranging from 0.1g/t to 1.59g/t gold and 0.1% to 0.63% copper.
Prosperity chairman Mo Munshi said, ?The new geochemical results open up the potential for larger scale of resources and related development than we had envisaged at this stage of the project.
?The drilling results announced and inferred from drill logging of new drill holes also support this view.
?The relatively easy access and outcrop expression of mineralization enabling open pit development will significantly reduce development costs leading into production?.
The Pelumat Project is one of 10 known magnetic skarn and intrusive targets along 60 kilometers of strike length at the 410 square kilometer Aceh Project.
Editing by Adianto P. Simamora