Prosperity Resources to kick off drilling at Kuini prospect in Aceh

Australian listed miner Prosperity Resources Limited (PSP) said that it is to commence drilling a series of holes to test the full extent of the magnetic anomaly at its Kuini Prospect in Southern Aceh.

Two drill holes completed in the Jelatang Prospect immediately along strike of Kuini, which was announced in early July, intersected significant gold and copper mineralisation in massive magnetite endoskarn at the end of the hole, the company said.

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

?The previous results from PNGD017 at the Jelatang Prospect are our best to date and the hole finished in mineralisation due to the limited capacity of the rig. This deeper capacity rig will allow us to fully test the target generated from the 3D magnetic modeling,? company chairman Mo Munshi said. (demas)