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Prosperity Goldfields Corp. (TSXV:PPG) is pleased to announce all assay results from Phase One drilling on three gold targets at its 100% controlled Kiyuk Gold Project, southern Nunavut, Canada.
Prosperity Goldfields Corp. (TSXV:PPG) is pleased to announce all assay results from Phase One drilling on three gold targets at its 100% controlled Kiyuk Gold Project, southern Nunavut, Canada.
The press release is quoted as saying:
- Best results are from the Rusty Zone, with 157.6 meters at 1.70 gpt Au (516.9 ft at 0.05 opt Au), including 30.5 meters at 4.90 gpt Au (100.0 ft at 0.143 opt Au). Drilling indicated strong gold mineralization at all three targets, Rusty, Gold Point and Cobalt. Prosperity Goldfields plans to undertake a major, follow-up drill program starting in February, 2012.
- All drilled gold zones include scattered, small grains of native gold, generally from less than 0.1 mm up to 0.5 mm in size, along with minor sulphide grains (pyrite, pyrrhotite and arsenopyrite). Strong albite-magnetite and albite-actinolite-quartz-carbonate alteration accompanies the gold mineralization.
Prosperity’s Chief Geologist, Quinton Hennigh says:
“These initial results from Kiyuk are extremely encouraging to us,” comments Dr. Quinton Hennigh, Chief Geologist for Prosperity Goldfields. “The gold mineralization at the Rusty Zone is interpreted as being stratabound and nearly horizontal, with drill hole RU11-001 approximately perpendicular to the gold mineralization. We knew that we had the potential for a very large system here, because of the extensive gold anomalies from scattered outcrops and float sampling, but this drilling confirms the size potential, and it confirms the potential for thick intersections of high grade gold.”
Click here to read the entire Prosperity Goldfields Corp. (TSXV:PPG) news release. 
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