Prosperity starts drilling at its Pelumat Project
Tuesday, March 13 2012 - 03:34 AM WIB
Prosperity Resources Limited stated it has commenced drilling at its Pelumat Project in the BAM Joint Venture Licence (IUP) on March 4th, the sixth gold-copper anomalous magnetic target defined in its Aceh portfolio in Northern Sumatra.
The Pelumat Prospect is one of ten known magnetic skarn and intrusive targets recognised by Prosperity along 60 kilometres of strike length in Prosperity?s 410 square kilometre Aceh Project.
Significant intersections containing disseminated, fracture and vein hosted pyrite-chalcopyrite-molybdenite mineralisation are reported from preliminary logging of the first 120 meters drilled in the hole to date. Similar material is observed in outcrop from the area and usually has significant Au values associated with the copper mineralization.
The core of the magnetic target will be tested by additional drilling at a later stage.
Mineralisation is associated with a zone of brecciated retrograde skarn and brecciated and hydrothermally altered microdiorite related to the margins of an intense magnetic anomaly. Alteration also includes veins of K-feldspar and biotite.
Two additional drill sections have been defined from Prosperity?s mapping and prospecting, while drill pads and access is currently being prepared.
Editing by Er Audy Zandri