Prosperity finds high grade gold at Aceh prospect

Australia-listed firm Prosperity Resources Limited said on Wednesday that it found further excellent results from sampling and trenching program in its Panton Luas prospect, Aceh province.

Initial trenching at Mutiara with better results include Trench P3; 15 metres @ 6.71g/t gold, Trench P37; 6 metres @ 2.70g/t gold and Trench P37; 15 metres @ 3.10g/t gold, the company said.

Chairman Mo Munshi said ?Our substantial regional ground position of 410km2 in Aceh continues to yield excellent results as evidenced by the follow up surface sampling and initial trenching results at the Panton Luas Prospect. These results confirm that potential exists for the delineation of a significant disseminated gold and/or porphyry gold/copper systems. A helimag survey has just been completed with early results indicating that Panton Luas and Mutiara could be part of the same large porphyry system covering 4km by 1.5km. A total of six gold and gold/copper prospects have been delineated in the Aceh Project to date?.

Panton Luas contains a gold-rich, copper-poor style of mineralisation with a strike length of more than 500 metres coinciding with the northwest-trending Panton Luas ridge. Zones of mineralisation also occur across a width of 400 metres at lower elevations in streams and creeks on both sides of the main ridge perpendicular to the ridge following the broad trend of mineralised structures and lithological contacts.

The tenor of the trench and channel results returned to date and widespread distribution of mineralised grab sample results from a large number of active and abandoned mine workings suggest there is excellent potential to define a large tonnage disseminated gold resource at Panton Luas, it said. (kanti)