New results extends size of Mutiara gold/copper prospect

ASX-listed firm Prosperity Resources Limited announced on Wednesday further gold and copper results from Mutiara East Prospect in Aceh. The Mutiara Prospect is located 1.5 kilometres to the north west of the Panton Luas Prospect and these results support the interpreted continuity of mineralisation and alteration between the two exciting Prospects.

The first ever drilling at Panton Luas has started using a man portable diamond drilling rig from Drillcorp. The first assays from the drilling are expected in around three to four weeks time. Drilling is also planned for the Mutiara Prospect in the current drill program. Three other targets are drill-ready and additional rigs are expected to commence in November.

Chairman Mo Munshi stated: ?extension of existing Prospects such as Mutiara and the discovery on new target areas is highlighting the potential for multiple discoveries of significant size. While exploration at our Aceh gold/copper project is still at a relatively early stage, results generated to date continue to increase confidence regarding the prospectivity of this underexplored region.?

Mutiara East Sampling
New rock chip results from additional sampling have been received from Mutiara East. The sample results are considered significant as they lie in a previously unassessed catchment between the Panton Luas and Mutiara Prospects, at about 200m from Mutiara and 1.2 kilometres from Panton Luas. The better of the gold and copper results are from narrow magnetite skarn hosted bodies within weak regional alteration. However an as yet poorly defined zone of texturally destructive pyritic alteration (bleaching silica / carbonate-pyrite alteration appearing in the east), up to 200m metres wide is also anomalous, and could provide a link between alteration styles seen at the more advanced Prospects of Mutiara and Panton Luas. The Mutiara Prospect has now been extended to 1 kilometre in strike length with a width of 1.3 kilometres. (kanti)