Prosperity acquires new Aceh gold-copper projects
Tuesday, June 29 2010 - 10:13 AM WIB
?Panton Luas is a newly defined priority target for our 2010 exploration program which has recently been ramped up. We have been working for the past six months to put this land package together and now can start work on a number of porphyry targets within our sizable and underexplored tenement package,? Chairman, Mo Munshi said in statement
The Panton Luas prospect is located two kilometres to the south east of the previously reported Mutiara prospect and the company sampling has produced a best assay from surface rock samples of 48.8 g/t gold. The average gold assay from rock chip sampling at Panton Luas was 16.6g/t over a strike length of 500 metres, the company said.
The mineralisation at Panton Luas and Mutiara is open in both directions and field mapping indicates that this may be a single 3.5 kilometer long mineralised porphyry system.
The Panton Luas - Mutiara system is located 35 kilometers northwest of the Pinang Pinang gold-copper project, which is also the company?s project, within a broad mineralised structural corridor which continues from the Pala and Jelatang prospects in the southeast.
Anomalous to strongly mineralised samples were sourced from microdiorite hosted quartz-magnetite-sulphide stockwork and breccia zones throughout the Panton Luas Prospect. The Panton Luas mineralisation is similar and locally identical to the style of porphyry-related mineralisation recently identified, sampled and reported from the Mutiara Prospect, located two kilometres to the northwest.
Mapping at Panton Luas - Mutiara has confirmed the presence of large bodies of proximal gold-copper endoskarn mineralisation over a broad area. Strongly mineralised replacement endoskarn mineralisation is spatially related to widespread intervals of microdiorite-hosted, gold-rich magnetite-sulphide ?quartz stockwork veining at Panton Luas and sutphide only and quartz-sulphide veinlets at Mutiara.
Previously reported rock chip sampling results from Mutiara returned highest assays of 29.2g/t gold and 18.3% copper. (kanti)