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Prosperity Goldfields Corp. (TSXV:PPG) is pleased to announce its Phase One drill program at its 100% controlled Kiyuk Gold Project, Nunavut is nearing a successful completion.
The press release is quoted as saying:
To date, approximately 2,600 meters of diamond drilling have been undertaken at the Cobalt and Gold Point Zones and the first hole targeting the Rusty Zone is presently underway. The company is on track to complete its Phase One drill program by the end of August.
- Three additional core holes, GP11-004, GR11-005 and GP11-006, have been completed at the Gold Point Zone since the previous update (see press release dated August 5, 2011).
- The drill has been moved to the Rusty Zone where four holes will test a zone of mineralized conglomerates similar to those at the Gold Point and Cobalt zones. Due to the additional time required to drill deeper holes at Gold Point, it is unlikely that the drill holes testing the North Snake Lake and Heart Pond showings will be completed during this current program. These holes will likely be deferred till the winter 2012 drill program.
Prosperity’s Chief Geologist, Quinton Hennigh says:
“Seeing more visible gold in our new holes at Gold Point is very encouraging,” states Quinton Hennigh, Chief Geologist for Prosperity Goldfields Corp. “Hole GP11-005 is particularly intriguing given the very long interval of alteration and mineralization evident in this hole. We expect data from the six Gold Point holes to give us a much better handle on the potential size and geometry of this zone and are quite anxious to receive assay results.”
Click here to read the entire Prosperity Goldfields Corp. (TSXV:PPG) news release.
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