PPG

Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG) is
pleased to announce initial results from its recently completed summer
exploration program. Complete assay results from the property wide till sampling
program have been received. Results from other sampling programs are still being
processed.


Five new areas of anomalous gold values ranging from 26 ppb Au to 54 ppb Au were
discovered as shown in Figure 1. Many of these were also identified as areas of
interest from initial field-portable XRF results, as well as mapping and
prospecting traverses conducted during the summer program.


The regional till sampling program involved collecting between 1 and 2 kilograms
of sample material on an offset grid, orientated perpendicular to the average
ice flow direction, with sample sites spaced approximately 1 km apart throughout
the entire property. A total 586 regional samples of C-horizon till, including
field duplicates were collected. Sample locations were adjusted to avoid
low-lying areas where obtaining C-horizon till was difficult or where
glaciofluvial sediments were predominant.


Samples collected near known areas of bedrock mineralization (Cobalt, Amundsen,
and Rusty) returned anomalous gold values in till ranging from 28.8 ppb Au up to
271 ppb Au. This mineralized trend forms a prominent regional till gold anomaly
and validates the sample spacing used for the regional till survey. Pathfinder
elements associated with anomalous gold include arsenic, antimony and tungsten.
These elements provide support for some of the regional Au anomalies, as well as
additional areas for follow-up investigation. 


To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/PPG925I.pdf. 


This property wide geochemical survey has improved the Company's understanding
of the known mineralized zones and provided a basis for assessing new anomalous
areas. Assay results are still pending for the detailed grid till samples and
rock samples from the summer program. The regional and grid till sampling, rock
sampling and mapping conducted during the summer field season will help
prioritize targets and drilling in the upcoming 2013 winter field program. 


"The objective of the summer exploration program was to systematically assess
the entire property with till sampling, undertake grid sampling and conduct
focused geological mapping and prospecting with five geologists on the ground.
These initial results from the first comprehensive property wide geochemical
survey further confirm that the Kiyuk property encompasses multiple gold
showings," commented Prosperity CEO, Adrian Fleming. "I am really pleased with
these initial results and anxiously await the additional results from the summer
program."


A comprehensive QA/QC program is in place to monitor precision and accuracy of
assay results. All till samples were submitted with certified reference
materials and were sieved to -230 mesh by the Acme Analytical Laboratories
preparation lab in Timmins, Ontario. The pulps were transferred to Acme
Analytical Laboratories Vancouver, British Columbia for analysis. Pulps were
re-mixed after transport to account for gravity settling of Au grains during
transport. A 30 g portion was digested in aqua regia acid and analyzed for Au
and a suite of 36 elements by ICP-MS. Acme Analytical Laboratories is ISO 9001
accredited. The accuracy of the Au data from the regional till samples is
considered to be excellent but data precision is subject to the nugget effects
typical of Au analyses (i.e. relative standard deviation of 50%).


In other news, the Company advises that it has terminated its Mineral Property
Option Agreement over its former Whiskey Property located in the Yukon Territory
and has no further obligations with respect to this project.  


Adrian Fleming RPGeo, MAusIMM(CP) is a Qualified Person and is responsible for
the technical content of this press release. Dennis Arne PGeo (BC) is a
Qualified Person responsible for the quality of the data referred to in this
press release. 


Additional information and maps displaying these results can be viewed on the
company web site at www.prosperitygoldfields.com. 


ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Prosperity Goldfields Corp. Statements regarding mineral exploration
operations and objectives are subject to risk, including, but are not limited
to, exploration and geologic risk, inflation and costs of goods and services,
property title issues and regulatory approvals. Investors are cautioned that any
such statements are not guarantees of future performance and that actual results
or developments may differ materially from those projected in the
forward-looking statements. Such forward-looking information represents
management's best judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future results may vary
materially. Prosperity Goldfields Corp. does not assume the obligation to update
any forward-looking statement, except as required by applicable law.

(TSXV:PPG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

(TSXV:PPG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024