Prospect Resources identifies high-grade gold at Prestwood mine in Zimbabwe

27 April 2014 (Last Updated April 27th, 2014 18:30)

Prospect Resources has identified high-grade gold at the Prestwood Gold Project in Zimbabwe during a six hole-1,281m RC drilling programme.

Prestwood mine

Prospect Resources has identified high-grade gold at the Prestwood Gold Project in Zimbabwe during a six hole-1,281m RC drilling programme.

Results from under the main gold reef include 9.23g/t Au over 1m, at 153m at borehole BPC001 and 9.94g/t Au over 1m at 193m at BPC005.

High-grade intercept of 12.3g/t Au over 1m within shallower shear zones at BPC006 borehole confirms open pit development potential, according to Prospect Resources.

In a statement, the company said that the results show that mineralised reef continues below and along strike of the historic gold workings, and it seeks to bring the project into production as a high-grade gold mine.

Five of six holes drilled intersected intact main reef down dip to 195m depth, which is seemingly open-ended.

"Five of six holes drilled intersected intact main reef down dip to 195m depth."

Prospect Resources plans to proceed with shaft rehabilitation and underground drilling at the site, including re-establishment of mains power.

All lower levels of the mine will be mapped and sampled after shaft rehabilitation following which underground drilling will commence, to test the extent of the parallel and cross-cutting structures.

Future surface work at the mine will comprise induced polarisation surveys to identify sub-outcropping disseminated halos, followed by a short hole RAB drilling programme to define broader disseminated targets.

Located approximately 112km south-east of Bulawayo, the Prestwood gold mine has produced approximately 499kg of gold at 33.1g/t to date.


Image: Prestwood Grid plan projected over Quick Bird satellite. Photo: courtesy of Prospect Resources Limited.

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