Masuparia project to start deep drilling program at Rina prospect
Thursday, December 21 2006 - 05:47 AM WIB
?Two deep diamond drill holes, each 750 meters in depth, are planned to test the Rina and Rina North prospects for high grade porphyry copper-gold mineralization,? Prosperity said in a statement to the Australian Stock Exchange on Thursday.
Prosperity said the drilling rig is now on site and drilling will commence on or about December 22, 2006 with the first drill core assays from the first hole expected to be received before the end of January 2006.
The drill rig is a helicopter mountable Boyles BBS 37 owned by PT Indo Asia Resources based in Balikpapan.
?This new interpretation of the magnetics and previous drilling has defined two large targets that warrant the exciting upcoming drill programme that could contain these big copper- gold style deposits,? company Managing Director, Ric Dawson, said.
The statement also said close spaced soil sampling over the two prospect areas is also currently in progress to define the surface multi-element geochemical signature over these two bodies.
Previous drilling by Phelps Dodge in 2001- 2002 and by Prosperity in 2005 had only skimmed the margins of the Rina body. The Rina North body remains untested by drilling and is open to the north.
Prosperity has a 10 percent interest in PT Pasifik Masao Mineral, the concession holder, with a clawback provision clause to purchase up to 20 percent. (Robert)