Summer Exploration Program Completed at Prosperity Goldfields’ Kiyuk Lake Project

Prosperity Goldfields has reported that the summer exploration campaign has been completed at the Kiyuk Lake gold project in Nunavut.

This program aims to field check the property’s new glacial geology plan; to conduct grid till sample priority target areas; to gather till geochemical samples from the 590 sq km property; and to geologically map and prospect prominent target areas and recent areas of interest to improve drill targeting.

The company completed a soil and till mineralogical and geochemical orientation study over the Rusty zone in order to appraise the level and magnitude of surface showings of mineralized gold that was intercepted in all three diamond holes. Samples were directly gathered over the popular mineralization and for over 1 km towards the southwestern part in the glacial dispersal direction.

Prosperity collected 539 till samples at 1 km spacing from the entire property. Arsenic values of samples found adjacent to Amundsen, Cobalt and Rusty zones are high. The company discovered three fresh regions having more arsenic and has completed initial prospecting of these regions. Multi-element and gold assays of till samples are pending.

The company completed a comprehensive grid till sampling program over a huge area that encloses the North Snake and Amundsen zones. Assay results will outline the drill target areas for a drill campaign planned for next spring season. Prospecting efforts targeted to characterize the comprehensive follow-up along the prominent mineralized zone trends, the popular mineralized zones, and regional traverses along lithologic and structural features interpreted from aerial magnetic information. The company gathered 210 rock samples and has completed assays at SGS.

The property’s gold mineralization has been separated into altered felsic volcaniclastics, altered polymictic conglomerate and brecciated sandstone based on drill core review and surface mapping.

Mapping and prospecting has discovered two fresh regions of altered or brecciated pyrrhotite-bearing rocks in the property’s southern portions, during the summer campaign in 2012.

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