re: Ann: Pinang-Pinang Porphyry System Strike...
Monday, October 12, 2009 www.proactiveinvestors.com.au
Prosperity Resources discovers new gold-copper mineralised zone at Pinang-Pinang.
Perth-based miner Prosperity Resources (ASX: PSP) has identified a new gold-copper mineralised centre along the northwest structural corridor at its Pinang-Pinang project in Indonesia. The Jetalang Prospect was discovered over an area spanning more than 400m along the corridor, located 2km southeast of the Pala project in Aceh, Indonesia.
“The discovery of the Jetalang prospect gives the company further confidence that the mineralised zones may be the surface expression of a large porphyry system,” Mo Munshi, chairman of Prosperity Resources, said.
The strike extent of the mineralised intrusives at Pinang-Pinang extended to 6km and is open in both directions. Trench J1 returned samples, which included 24m at 2.32g per tonne of gold and 0.27 per cent copper, while rock sample results included 10.5g per tonne of gold and 027 per cent copper.
Additional trenches are planned in zones of alteration and mineralisation and a program of ground magnetics will commence later this month.
Aside from Indonesia, Prosperity also has significant land holdings in the historic mining region of Tennant Creek in the Northern Territory and iron ore and gold interests in the Murchison region in mid-west Western Australia.
PSP Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
