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

ASX-listed firm Prosperity Resources Limited announced on Wednesday a second release of images from its regional helicopter-borne magnetic survey conducted during August over its licenses in southern Aceh.

In a similar manner to the first release covering the northern block of licenses, the magnetic survey results from the southern block of licenses, which includes the Pala, Nilam, Jelatang and Kuini Prospects, highlight a number of attributes that assist in resolving the size, geology and alteration characteristics of recognized mineralisation.

The survey results also revealed a number of new sites within distinctive structural settings and with magnetic characteristics that are similar to known targets which will require follow-up. This follow-up, including some new drilling at defined targets, will be scheduled to start in the coming weeks. These include potential high grade Au-Cu skarn and porphyry hosted mineralisation which all lies within the major controlling structural corridor encompassed by Prosperity Licences.

"Assessment of the magnetic data is still at an early stage," the firm said in a statement.

The released images are from a survey which was flown by GPX Surveys at a combination of 200 metre and 100 metre flight line spacing to best highlight structure and areas with significant alteration defined by development of hydrothermal magnetite alteration and later destruction characteristic of porphyry environments and related magnetite bearing contact endo- and exoskarns associated with microdiorite intrusives.

The magnetic images illustrate a number of features of geology, geochemistry, structure, alteration and mineralisation which have been recognised by Prosperity in the field and in drilling. These illustrate the close correlation between direct field observation of alteration characteristics of both porphyry and skarn mineralisation with the magnetic anomalism and gives confidence to the interpretations able to be made from the magnetic survey data in unmapped areas.

"As with the earlier release this also clearly highlights the prospectivity potential of Prosperity Resources licenses in south Aceh," the firm adds. (giok)