Prosperity Goldfields Corp. (TSXV:PPG) announced its diamond drill program at its Kiyuk Lake property in Southern Nunavut, to begin in early March. This will be the first two-diamond drill program on the property and is expected to complete 16 to 18 holes.
As quoted in the press release:
The focus of the drill campaign will be the Rusty Zone where previous drilling in 2011 and 2012 returned intercepts including 37.8m grading 4.18 g/t Au from surface and 61.5m grading 3.34 g/t from 159m (previously released May 7, 2012). The objective of the drilling at Rusty is to expand and further define the breccia-hosted gold mineralization which drilling in 2012 indicated extends from surface and for a distance along strike of at least 250 meters.
Drilling is also planned for the Cobalt and Amundsen Zones. Drilling at Cobalt will test an undrilled area directly up-ice of a till sample with a highly anomalous number of pristine gold grains (762 grains) and several mineralized boulders with grades from below detection to 14 g/t Au.
In addition to these follow-up drill holes, drilling is planned at the untested Bancroft and Rasmussen showings. The Bancroft showing, identified in 2012, is defined by mineralized boulders coinciding with highly anomalous gold values in till and a chargeability and resistivity anomaly.
Prosperity Goldfields CEO Adrian Fleming said:
The Prosperity Goldfields technical team is eager to get back to Nunavut with this two drill program. We feel there is excellent potential at Rusty to define a large gold system. In addition wildcat drilling-of new highly prospective targets is likely to further confirm our view that Kiyuk Lake has the hallmarks of a major gold camp.