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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (1037)	5/9/2013 7:42:00 PM
From: Goose94	Read Replies (1) \| Respond to of 202704

Prosperity Goldfields (PPG-V) drills 24 m of 2.52 g/t Au at Kiyuk Lake May 9, 2013 - News Release Prosperity Goldfields Corp. has released final assay results for its 20-hole, 4,427-metre winter drill program on its 100-per-cent-owned Kiyuk Lake, Nunavut, gold project. Final assay results from the Rusty discovery include 24 metres at 2.52 grams per tonne (g/t) gold (Au) from 184 metres, 24 metres at 1.47 g/t Au from 10 metres and 28 metres of 1.05 g/t Au from 38 metres in three separate drill holes. The winter program completed 11 holes at the Rusty zone and nine holes at other prospects. Highlights from 2013 winter drilling: 35.9 metres of 4.95 g/t Au from 134.1 metres at the Rusty zone (previously reported on April 9, 2013); Multiple gold intersections greater than 20 metres at cut-off of 0.5 g/t Au from five other holes at Rusty proving continuity of gold mineralization; Rusty zone still open at depth, at surface and to the southeast; Anomalous gold grades (greater than 0.5 g/t Au over two metres) were intersected in 17 of the 20 drill holes completed during the 2013 winter program, suggesting a large hydrothermal system exists on the property. "The 2013 winter drill program was a combination of further defining the Rusty zone and testing other prospects, some of which had not previously been drilled. The Rusty zone results were strong and demonstrated continuity of mineralization, as well as defining limits to part of the system," commented Prosperity chief executive officer Adrian Fleming. "Rusty is still open and needs more drilling to define a resource. The wildcat drilling at other prospects did not deliver a discovery, but follow-up drilling is warranted at the newly identified hydrothermal centres at North Snake and Anderson, and many other prospects remain untested." At the Rusty zone, drilling has defined the limits of the breccia-hosted gold mineralization to the northwest and southwest, however, the zone is still open. Including the discovery hole at Rusty drilled in 2011, which returned 37.8 metres at 4.18 g/t Au from 2.44 metres, a total of 15 holes have been completed at the Rusty zone. Ten of these holes contain significant gold intercepts at a cut-off of 0.5 g/t Au, as summarized in the relevant table. Of these 10 holes, six were drilled in 2013. Previously unreleased intercepts include 24 metres at 2.52 g/t Au from 184 metres (KI13-011), 24 metres at 1.47 g/t Au from 10 metres (KI13-013) and 28 metres at 1.05 g/t Au from 38 metres (KI13-015). Hole KI13-011 experienced drilling difficulties at 208 metres and the rod string was lost in the hole. The last 24 metres of core prior to the hole being lost containing 24 metres of 2.52 g/t Au suggest that mineralization could extend further to depth. The Rusty zone is open at the surface to the southeast and at depth, as 3-D modelling of this winter drill data clearly shows. The nine exploratory drill holes completed this winter were at the Rasmussen, North Snake, Bancroft, Cobalt and Anderson prospects. Hole KI13-012 at North Snake intersected pyrrhotite- and magnetite-bearing brecciated mudstone, and returned six metres at 1.33 g/t Au from 24 metres at a cut-off of 0.5 g/t. The other prospects' assays did not make the company's strict minimum length intercept criteria of 0.5 g/t Au and six metres, however, sporadic gold mineralization was intersected. At Bancroft (three exploratory holes), a 54-metre interval in hole KI13-006 returned anomalous grades up to 1.4 g/t Au from 14 metres; at Cobalt, KI13-019 returned a 44-metre interval of anomalous grades up to 1.4 g/t Au from 122 metres; and at Anderson, KI13-020 returned anomalous grades up to 1.5 g/t Au in two intervals. These wildcat drill results, although lower grade, emphasize that these prospects are worthy of further exploration and demonstrate that multiple hydrothermal centres, in addition to Rusty, exist on the property. A summary of drill holes assays at the property, outside of the Rusty zone, with significant mineralized intercepts, at a cut-off of 0.5 g/t Au cut-off are provided in the relevant table. All available geologic, geochemical, structural and geophysical data are currently being evaluated in order to define the scope of the summer field program that is expected to be carried out in July or August, 2013. The exploration program is being directed by Mr. Fleming, with additional specialist expertise in geology, geochemistry and geophysics being provided by CSA Global Canada Geoscience Ltd. A comprehensive quality-assurance/quality-control program is in place to monitor precision and accuracy of assay results. Drill core samples are submitted with certified reference materials and analyzed by SGS Minerals Services, Red Lake, Ont. Gold analyses are by fire assay using a 30-gram charge and an atomic absorption spectrometry finish. Overrange assays greater than three g/t Au are reassayed using a gravimetric finish. SGS Mineral Services is ISO 9001 accredited. Additional information, including maps and cross-sections displaying these drill results, can be viewed on the company website.