Prosperity Resources kicks off drilling at southern Aceh project

Australian listed Prosperity Resources Limited said it has commenced drilling at the Kuini Prospect in southern Aceh. The drilling program is planned to test along strike from the Jelatang Prospect to the south east.

The two holes drilled in the Jelatang Prospect intersected significant gold and copper mineralization in microdiorite intrusive associated with massive magnetite endoskarn with one hole finishing in mineralization .

The Kuini Prospect is one of eight known porphyry intrusive and related skarn targets recognized along 60 kilometers of strike length in Prosperity?s 410 square kilometer Aceh project.

?We are pleased to be finally drilling at the Kuini Prospect after almost twenty months delay. We have worked through the issues with the local community and are now looking forward to testing the Kuini magnetic target,? company Chairman Mo Munshi said.

This is the first opportunity to test a magnetic high from the 3D magnetic modeling work completed earlier in the year.

?The outcomes are important because if mineralization is successfully delineated it will firm up a number of other potential magnetic targets for similar exploration in the near region,? Mo Munshi said.

The first hole in the present campaign (PNGD020) is designed primarily to assist in geological interpretation of the site, to verify the interpretation and location of the causative magnetic body derived from the 3D magnetic inversion model.

Evidence that could demonstrate the potential for a porphyry system at depth as a source for the skarn alteration and mineralization is an objective of the deeper drilling and is considered as one possible outcome. (romel)