Thursday, February 18, 2010

PSP claims encouraging gold-copper results in Aceh

Prosperity Resources Limited announced what it called as encouraging results from the initial scout drilling program at Pala in Pinang-Pinang project in Aceh province. The sixteen shallow diamond drill holes have intersected broad intervals of porphyry-related gold-copper mineralization.
The results include 22 meters of 1.12 g/t gold and 0.4% copper, 9 meters of 1.68 g/t gold and 0.54% copper, 7 meters of 1.13 g/t gold and 0.35% copper, 8 meters of 2.12 g/t gold and 0.18% copper, and 6 meters of 3.62 g/t gold and 0.06% copper.
"The results from this first phase shallow drilling program are encouraging and give us a better understanding of the geology at the Pala prospect. Our view has always been that Pinang Pinang is a deeper porphyry target and the next phase of work will involve generating the deeper drilling targets," Mo Munshi, chairman of Prosperity told ASX this morning.

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