| Press Release |
September 8, 2010
Prophecy Resource Reports 5 Major IP Anomalies and Commencement of Drilling at its Lynn Lake Project, Manitoba
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September 3, 2010
Shareholders of Northern Platinum Approve Merger with Prophecy Resource
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September 2, 2010
Prophecy Secures $10 Million Loan to Advance Ulaan Ovoo Coal Mine, Mongolia
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August 26, 2010
Prophecy provides update on Ulaan Ovoo Mine preparation, Mongolia
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August 20, 2010
Prophecy Appoints Mr. Paul Venter to its Board of Directors
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August 16, 2010
Prophecy Reports Measured 524.3 Mt and Indicated 545.7 Mt Coal Resources at Chandgana Khavtgai, Mongolia (Drill Map Included)
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August 12, 2010
Prophecy Resource to Loan Northern Platinum $50,000
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July 21, 2010
Prophecy Resource Corp. Lists on OTCQX Market in the USA and Xetra in Germany
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July 16, 2010
Prophecy and Northern Platinum Ltd. Sign Definitive Agreement, Northern Shareholder Meeting Set For September 3
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July 7, 2010
Prophecy Detects Strong IP Anomaly At Its Disco Nickel-Copper-Cobalt Deposit, In Lynn Lake, Manitoba (diagrams included)
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Prophecy Drills 45.5 Metres of 0.33% Copper and 0.003% Molybdenum at Okeover, Continues to Expand the Resource at the North Lake Zone
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July 28, 2008 - Prophecy Resource Corp. (TSX-V: PCY) has received the final results of a six hole, 1,449 metre diamond drill program recently completed at the Okeover copper/molybdenum project, located 140 kilometres north of Vancouver on the British Columbia coast.
Highlights of the current program include Hole OK-08-03, which intersected 45.5 metres grading 0.33% copper and 0.003% molybdenum, including 12 metres grading 0.41% copper and 0.001% molybdenum. Hole OK-08-03 was drilled 90 metres to the south of the nearest hole in the current North Lake resource area and creates an open southern edge for future expansion of the resource area in this direction. The North Lake Zone is one of eight known areas of significant copper-molybdenum mineralization on the Okeover project, which is located near the City of Powel River and is a short distance form a deep water Pacific Ocean port.
At Okeover, the objectives of the recent program were achieved and expanded the mineralized area of the North Lake Zone (calculated in 2006 by N.C. Carter, Ph.D., P. Eng to contain 86.8 million tonnes grading 0.31% copper and 0.014% MoS2) a substantial distance to the south. Prophecy plans to incorporate the drill results from this current program and last year's drilling into an updated North Lake resource estimate to be completed later this year.
A summary of the drill results from the 2008 exploration programs are as follows:
Hole |
Intercept (m) |
From
(m) |
To (m) |
Cu
% |
Mo
% |
Ok-08-01
Including |
57.0
42.0 |
113.0
122.0 |
170.0
164.0 |
0.30
0.33 |
0.003
0.003 |
Ok-08-02
And |
26.3
16.5 |
72.5
107.3 |
98.8
123.8 |
0.26
0.33 |
0.002
0.003 |
Ok-08-03
Including
Including |
198.5
45.5
12.0 |
39.5
39.5
73.0 |
238.0
85.0
85.0 |
0.16
0.33
0.41 |
0.001
0.003
0.001 |
Ok-08-04 |
2.2 |
98.2 |
98.0 |
0.21 |
0.004 |
Ok-08-05 |
46.4 |
2.1 |
48.5 |
0.10 |
0.001 |
Hole OK-08-06, drilled three kilometres further to the south, returned only anomalous values, with individual three metres sample intervals returning values to 0.28% Cu and 0.029% Mo.
With this drill program now complete, Prophecy has spent over $1,000,000 in exploration at Okeover and satisfied its work commitment to earn a 60% interest from Eastfield Resources Ltd. (TSX.V: ETF).
J.W. (Bill) Morton, P.Geo., a director of the Company and qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
About Prophecy Resource Corp.
Prophecy is currently drilling at the Okeover Copper-Molybdenum property on tidewater in B.C., twenty-five kilometres north of the City of Powell River. In 2006, N.C. Carter, PhD, P.Eng, completed a technical report on the Okeover Property pursuant to NI 43-101 that estimated an inferred mineral resource for the North Lake Zone of 86.8 million tonnes grading 0.31% copper (approximately 593,000,000 lbs.) and 0.014% MoS2 (approximately 15.9 million lbs of molybdenum) at a 0.20% copper cut-off grade. The current drill program is focused on the South Breccia area, which is one of eight prospective zones identified at Okeover and has not had any significant exploration work undertaken for more than ten years.
ON BEHALF OF THE BOARD OF DIRECTORS
"STUART ROGERS"
Stuart Rogers, Chief Financial Officer
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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