PSC - Prospect Resources Limited: Quarterly activities report 1/1

* Share placement at 1.5c per Share to raise US$lm (subject to South African Reserve Bank approval) Exploration Activity Bushtick Gold Project The company has recently completed a surface trenching programme whereby 10 trenches, totalling 1200m were dug covering an area of approximately 2kms by 100m...

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Published inRWE Equity Business News Service
Format Newsletter
LanguageEnglish
Published Sydney Australian Associated Press Pty Limited 29.07.2014
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Summary:* Share placement at 1.5c per Share to raise US$lm (subject to South African Reserve Bank approval) Exploration Activity Bushtick Gold Project The company has recently completed a surface trenching programme whereby 10 trenches, totalling 1200m were dug covering an area of approximately 2kms by 100m covering 1.2km of the known strike of the historic Bushtick Gold Mine. This mineralised package lies along the flanks of the 'Main Gold Reef that was exploited largely in the 1930's and 40's. Historically the contacts of the 'Main Gold Reef was defined on a cut-off grade, of 5.4 g/t, resulting in considerable mineralised material remaining, that could be mined economically today.