Prosperity finds ?significant? new trench at Aceh copper/gold project

Australian-listed firm Prosperity Resources Limited said on Monday it found significant new trench and rock chip sample results from the Mutiara Prospect, located within its Mulia Kencana Makmur (MKM) IUP exploration license in south Aceh.

Initial trenching at Mutiara with better results include Trench M1: 18 meters @2.61g/t gold and 0.71% copper; Trench M23: 12 meters @4.77g/t gold and 3.62% copper, and Trench M26: 18 meters @1.39g/t gold and 0.42% copper, the company said in statement.

This is the first trenching carried out at Mutiara. The Mutiara prospect is located 1.5km to the northwest of the Panton Luas prospect and may be part of one large mineralised porphyry system at least 4km long. These Mutiara results follow the previously reported surface sampling results from this area and confirm continuous zones of mineralization, it said.

Chairman Mo Munshi said ?Our licenses in Aceh continue to produce excellent results as evidenced by the helimag and Mutiara rock chip sampling and trenching results. These results confirm that potential exists for the delineation of significant porphyry gold/copper systems and indicate that Mutiara and Panton Luas could be part of the same large porphyry system covering 4km by 1.5km.?

Drilling at Mutiara is expected to start in September this year, it added.

A detailed helicopter-borne magnetic survey is being flown over Prosperity?s Aceh licenses. The preliminary data from this magnetic survey is very encouraging and the results from this survey will be released in the coming weeks. (denny)