Prosperity updates Aceh gold/copper project activity
Thursday, September 30 2010 - 05:37 AM WIB
Prosperity controls a 60 kilometre long land belt and the recently completed helicopter-borne magnetic survey has identified several potential porphyry centres and high grade skarn occurrences.
The initial program of shallow drilling (200-250 metres deep) at Panton Luas and Mutiara will be followed by deeper drilling to 600 metres later in the month. 5,000 metres of diamond drilling are scheduled using two shallow and one deep capacity Drillcorp rigs.
An ongoing drilling program is anticipated on the basis of successful results from this initial program on the prospects and a number of additional targets defined by Prosperity to date.
Chairman Mo Munshi said ?The current program at our substantial regional Aceh gold-copper project is the first significant drilling program to be carried out on the northern targets in the Project region. This drilling follows up very encouraging exploration results generated by Prosperity on a number of the targets delineated to date.?
Panton Luas Drilling
The stage 1 drilling program at Panton Luas is designed to test a number of key features of the geology, alteration, geochemistry and magnetics recognised related to both existing sites of artisanal mining activity in intensely to moderately altered microdiorite showing extensive pyritisation and silica-clay alteration and progressing southward to test the peak of a zone of elevated helimagnetic anomalism marginal to the zone of intense alteration. The magnetic anomaly intensity increases away from the site of artisanal workings and reaches a zone of peak intensity coincident with significant and often highly Au anomalous continuous 3 metre composite rock chip traverses over significant widths in silica magnetite altered microdiorite. These broad areas of anomalism are considered highly significant in the context of a porphyry environment from surface rock chip samples and illustrate the widespread nature of anomalism.
Mutiara Drilling
At Mutiara the first stage drilling is designed to test a significant zone of contact skarn hosted copper mineralisation developed between intrusive microdiorite and limestone. It is also designed to test a significant helimagnetic anomaly in an area with no exposure that is interpreted to coincide with a hydrothermally magnetite altered microdiorite similar in character to that at the Panton Luas site and considered likely to relate to the intrusives generating the skarns at Mutiara. (ends)