Prosperity Goldfields Reports 35.9 m at 4.95 g/t Au, from Core Drilling, Rusty Zone, Kiyuk Lake, Nunavut
09 Abril 2013 - 10:00AM
Marketwired Canada
Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG)
reports assay results from the first four drill holes from the ongoing winter
drill program on its 100% owned Kiyuk Lake gold property (the "Property").
Multiple zones of gold mineralization have been intercepted in three of the
first four drill holes from the Rusty Zone. Highlights include:
----------------------------------------------------------------------------
Hole KI13-001 35.9 m at 4.95 g/t Au from 134.1 m
----------------------------------------------------------------------------
Hole KI13-003 12.0 m at 6.61 g/t Au from 80.0 m
----------------------------------------------------------------------------
Hole KI13-004 24.1 m at 3.40 g/t Au from 34.0 m
28.0 m at 1.53 g/t Au from 66.0 m
8.0 m at 8.24 g/t Au from 168.0 m
30.0 m at 2.87 g/t Au from 224.0 m
----------------------------------------------------------------------------
"Our initial holes at Rusty Zone further define this robust breccia-hosted gold
system by demonstrating continuity of mineralization, confirming strong gold
grades, and that mineralization begins near surface," commented Prosperity CEO,
Adrian Fleming. "Grades quoted are for a 0.5 g/t Au cut-off using a rigorous
statistical treatment. At a zero g/t Au cut-off and averaging all of assays of
the mineralized core in hole KI13-004 we see a wide gold zone; 249.8 m at 1.6
g/t Au from 8.2 m. Although more drilling is required to adequately define the
Rusty Zone, it is clear from these early holes that we are dealing with a
strongly mineralized gold system. I'm looking forward to the assays from the
balance of our current two-drill program."
Table 1 lists composite assay results from the first four holes of the winter
drill program completed at Rusty Zone.
Table 1: Composited Gold Assay Results, Rusty Zone
----------------------------------------------------------------------------
Hole ID From (m) Length (m)(1) Au (ppm)(2)
----------------------------------------------------------------------------
KI13-001 40.0 6.0 2.12
----------------------------------------------------------------------------
KI13-001 48.0 6.0 1.27
----------------------------------------------------------------------------
KI13-001 82.0 8.0 1.28
----------------------------------------------------------------------------
KI13-001 102.0 8.0 2.53
----------------------------------------------------------------------------
KI13-001 134.1 35.9 4.95
----------------------------------------------------------------------------
KI13-002 No significant assays
----------------------------------------------------------------------------
KI13-003 80.0 12.0 6.61
----------------------------------------------------------------------------
KI13-003 256.0 8.0 1.30
----------------------------------------------------------------------------
KI13-004 8.2 11.8 1.46
----------------------------------------------------------------------------
KI13-004 34.0 24.1 3.40
----------------------------------------------------------------------------
KI13-004 66.0 28.0 1.53
----------------------------------------------------------------------------
KI13-004 104.0 14.0 1.70
----------------------------------------------------------------------------
KI13-004 132.0 10.0 1.72
----------------------------------------------------------------------------
KI13-004 168.0 8.0 8.24
----------------------------------------------------------------------------
KI13-004 182.0 8.0 1.17
----------------------------------------------------------------------------
KI13-004 196.0 10.0 3.01
----------------------------------------------------------------------------
KI13-004 224.0 30.0 2.87
----------------------------------------------------------------------------
(1) Apparent thickness of composite intervals
(2) weighted averages calculated using 0.5 g/t Au cut-off; minimum composite
grade 1.0 g/t Au over minimum 6 m interval, maximum internal dilution length
and grade 4 m and +0.1 g/t Au respectively
Gold mineralization at Rusty is hosted by brecciated sandstone with a matrix
composed of varying proportions of albite, actinolite, calcite, dolomite and
quartz. Magnetite and pyrrhotite occur in the matrix of the breccia creating an
intense magnetic high visible in ground magnetic data collected in 2012.
KI13-001 and KI13-004 drilled through the core of the magnetic body (see Figure
1, Drill Plan: http://media3.marketwire.com/docs/ppg-0409-fig1.pdf). These holes
demonstrate continuity of mineralization by filling a 200 m gap between 2012
drill holes (previously reported KI12-001 and KI12-003) and by extending the
zone of mineralization further to the west-north west. As shown by the intercept
at the bottom of KI13-003 gold mineralization also occurs within magnetic low
zones flanking the main body. The reported widths of composite intervals are
apparent thicknesses and the overall shape of the mineralized zone is not yet
known. KI13-004 ended in mineralization at target depth (see Figure 2, Hole 4
Cross Section: http://media3.marketwire.com/docs/ppg-0409-fig2.pdf).
To date nine drill holes have been completed at the Rusty Zone, three at
Bancroft, two at North Snake and one at Rasmussen. Further assay results are
pending. Additional drilling is proceeding at untested targets including
Rasmussen. Table 2 provides details of collar coordinates and Figure 3
(http://media3.marketwire.com/docs/ppg-0409-fig3.pdf) shows details of the
current winter drill program.
Table 2: Drill hole collar coordinates
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total
Hole_ID Easting(1) Northing(1) Elevation (m) Azimuth Dip depth (m)
----------------------------------------------------------------------------
KI13-001 425844 6699966 332 140 -50 243.06
KI13-002 425762 6699905 326 140 -50 273.43
KI13-003 425898 6699898 327 140 -50 276.45
KI13-004 426016 6700038 330 230 -50 267.4
----------------------------------------------------------------------------
(1) Coordinate System: UTM NAD 83, Zone 14N
----------------------------------------------------------------------------
----------------------------------------------------------------------------
The exploration program is being directed by Adrian Fleming, CEO and a Director
of Prosperity with additional specialist expertise in geology, geochemistry and
geophysics being provided by CSA Global Geoscience Ltd.
A comprehensive QA/QC program is in place to monitor precision and accuracy of
assay results. Drill core samples are submitted with certified reference
materials and analyzed by SGS Minerals Services, Red Lake, Ontario. Gold
analyses are by fire assay using a 30 g charge and an atomic absorption
spectrometry finish. Over-range assays greater than 3 g/t are re-assayed using a
gravimetric finish. SGS Mineral Services is ISO 9001 accredited.
Adrian Fleming RPGeo, MAusIMM(CP) is a Qualified Person and is responsible for
the technical content of this news release.
Additional information including maps and cross sections displaying these drill
results can be viewed on the company web site at www.prosperitygoldfields.com.
ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.
Adrian Fleming, CEO and Director
This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Prosperity Goldfields Corp. Statements regarding mineral exploration
operations and objectives are subject to risk, including, but are not limited
to, exploration and geologic risk, inflation and costs of goods and services,
property title issues and regulatory approvals. Investors are cautioned that any
such statements are not guarantees of future performance and that actual results
or developments may differ materially from those projected in the
forward-looking statements. Such forward-looking information represents
management's best judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future results may vary
materially. Prosperity Goldfields Corp. does not assume the obligation to update
any forward-looking statement, except as required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Prosperity Goldfields Corp.
Dwane Brosseau
Investor Relations
Toll Free: 1 855 237 6274 or Direct: 604 662 3380
info@prosperitygoldfields.com
www.prosperitygoldfields.com
Frontline Communications
Leo Karabelas
Mobile: 416 543 3120
(TSXV:PPG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
(TSXV:PPG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Prosperity Goldfields Corp.