Prosperity?s Aceh licenses converted to IUPs
Two new porphyry centers discovered
Monday, April 12 2010 - 07:52 AM WIB
Prosperity?s licenses include the 1,000 ha exploitation IUP held under PT Multi Mineral Utama (MMU) and two 5,000 ha exploration IUP licenses held under PT Mulia Kencana Makmur (MKM) and PT Bintang Agung Mining (BAM).
Prosperity field mapping and sampling has resulted in the discovery of two new porphyry centres: the Mutiara Prospect which is a 1.2 kilometre long by 1.2 kilometre wide Prospect within the MKM license and the Pelumat Prospect which occurs within the BAM license.
Best assay from surface rock samples at Mutiara is 29.2 g/t gold and 18.3% copper.
Prosperity also has applications in place for three new exploration IUPs each of 10,000 ha which will consolidate its land package in this highly prospective Aceh mineral province.
Chairman Munshi said ?we are excited about our land package in Aceh. Prosperity now has a 50 kilometre long corridor of highly prospective island-arc related intrusive rocks which is under-explored. The new targets at Mutiara and Pelumat will be our initial focus along with the continuing work at Pinang-Pinang?.
Prosperity?s recent reconnaissance exploration, sampling and ground magnetics have confirmed the presence of two new discrete intrusive centres containing porphyry-style gold-copper mineralisation. The first one is the Mutiara Prospect within the MKM IUP, 35 kilometres northwest of Pala which returned a peak assay of 29.2 g/t gold and 18.3% copper (from a float sample). The second new prospect named Pelumat is a further 10 kilometres to the northwest within the BAM IUP and limited rock chip sampling from within this prospect returned maximum assays of 0.33 g/t gold and 0.17% copper (from float sampling).
An exploration program is ongoing in the Aceh licenses. Approvals have been received for a helimag survey which is planned to start next month. This survey will help to identify further areas of interest and better define drill targets.(lucky)