Prospect Resources confirms continuation of Prestwood mineralisation

THE DRILL SERGEANT: Prospect Resources (ASX: PSC) has received results from an ongoing maiden six hole RC drill program being carried out at the company’s Prestwood gold mine in Zimbabwe.

Prospect claims the results it has achieved so far have confirmed the continuation of gold mineralisation below the historic mine.

 

Schematic Drill Section of Boreholes BPC001 and BPC3. The Prestwood
Reef is shown to extend to the theoretical 6 Level. Source: Company
announcement

 

Three of four holes the company has drilled to date have intersected the Prestwood Reef down dip of historic workings, to 195 metres below surface

The company is currently drilling the fifth hole of the program.

Assay have been received from the first hole, BPC001 with results including:

A primary intercept of the Prestwood Reef of 9.23 grams per tonnes gold over 1m, at 153m (130m vertical);

An interception of the Upper Reef of 1.1g/t gold over 1m, at 120m; and

Sheared Monzonite contact at 1.1g/t gold over 1m at 107m.

“The drill program is designed to prove continuity of the historically mined Prestwood Reef along strike and down dip, and identify parallel zones of mineralisation plus identify potential targets for open-pit operations,” Prospect Resources said in its ASX announcement.

The company explained that, in conjunction with the drilling program, it has carried out other activities including the erection of exploration head-gear over the Prestwood Main Shaft with the mine now dewatered to 2 Level.

“Once shaft rehabilitation is complete, underground drilling for parallel reefs is planned,” the company said.

“Evidence of parallel reefs is supported by a ground magnetic survey completed in January plus existing artisanal surface mining.”

Prospect Resources considers the final results of the drill program and the fast track shaft rehabilitation and sampling has the company well placed to bring its first high-grade gold mine into production.

Prospect also has access to toll treating facilities lees than 25 kilometres from of the Prestwood mine.

Email: info@prospectresources.com.au

Website: www.prospectresources.com.au