Prosperity Goldfields Provides Update on Kiyuk Gold Project Program

Prosperity Goldfields Corp. (TSXV:PPG) reports drilling has progressed well at its Kiyuk gold project, Nunavut.

The press release is quoted as saying:

To date, approximately 1,700 meters of diamond drilling have been undertaken at the Cobalt and Gold Point Zones. The company is on track to complete its 3,500 meter program Phase One drill program by the end of August.

• Seven diamond core holes, CS11-001 through -007, have been completed at the Cobalt Zone, a 200 m wide and at least 700 m long zone of variably mineralized polymictic conglomerates.  Hole CS11-001 was lost in overburden, but CS11-002 through -007 were drilled to depths ranging from approximately 100-250 meters, and all intersected variably long intervals of albite-altered sedimentary rocks ranging from a few meters to a few tens of meters long.  Disseminated sulfide minerals including pyrite, pyrrhotite and arsenopyrite, occur locally.  Samples from holes CS11-002 through -005 have been submitted to SGS Minerals Services in Red Lake, Ontario, for fire assay, and holes CS11-006 and -007 will soon be split and sampled in preparation for submission to the assay laboratory.

Prosperity’s Chief Geologist, Quinton Hennigh says:

“We are extremely pleased with the progress of our first drill program at Kiyuk.” “Our second and third Gold Point Drill holes are particularly intriguing given the presence of small grains of visible gold scattered over significant lengths of core. We shall be quite anxious to see assay results from these holes over the coming weeks.” 

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