Exploration Program
North Lake Zone, Spring 2007
As recommended by N.C. Carter, the Company commenced a first phase program at Okeover in spring 2007 that included additional drilling of the North Lake Zone to expand upon the currently identified mineral resources.
In July, 2007 Prophecy received the results from the first four drill holes of a seven hole program recently completed at the Okeover copper-molybdenum property. The drill holes reported here were designed to expand the current resources of the North Lake Zone.
Hole OK-07-04, drilled near the western boundary of the North Lake Zone, intersected an aggregate intercept of 76 metres grading 0.34% copper and 0.020% MoS2, including an intercept of 19 metres grading 0.42% copper and 0.020% MoS2. Hole OK-07-04 was drilled adjacent to and beneath a hole completed in 1972 with much of the mineralized interval, including the higher grade section, occurring beneath the 1972 hole, which bottomed at a depth of 97 metres.
Hole OK-07-02, drilled 350 metres to the east of the area corresponding to the North Lake resource, intersected 23 metres grading 0.24% copper and 0.031% MoS2 at the bottom of the hole, establishing that mineralization is very much open ended to the east and suggesting that the North Lake Zone may be considerably larger than the 2006 estimate. In addition, molybdenum grades appear to be increasing to the east.
A summary of results of the first four holes is as follows:
Hole OK-07-01
Excluding several internally dilutive dykes greater than 4 metres in thickness:
| Beginning |
Ending |
Aggregate
Mineralization |
Copper (%)
|
MoS2 (%)
|
| 29 m |
203 m |
147 m |
0.18 |
0.009 |
Mineralized intervals in OK-07-01 in detail
| From
(m) |
To
(m) |
Interval
(m) |
Copper
(%) |
MoS2 (%) |
| 29 |
47 |
18 |
0.16 |
0.010 |
| 56 |
90 |
34 |
0.17 |
0.008 |
| 92 |
132 |
40 |
0.17 |
0.009 |
| 138 |
166 |
28 |
0.17 |
0.007 |
| 171 |
191 |
20 |
0.24 |
0.010 |
| 196 |
203 (end) |
7 |
0.19 |
0.019 |
OK-07-01 is located approximately 75 metres to the east of the 2006 North Lake Zone (south side).
Hole OK-07-02
| From
(m) |
To
(m) |
Interval
(m) |
Copper
(%) |
MoS2 (%) |
| 165 |
188 (end) |
23 |
0.24 |
0.031 |
OK-07-02 is located approximately 350 metres to the east of the 2006 North Lake Zone.
Hole OK-07-03
Excluding several internally dilutive dykes greater than 4 metres in thickness:
| Beginning |
Ending |
Aggregate
Mineralization |
Copper
(%) |
MoS2
(%) |
| 73 m |
188 m |
75 m |
0.19 |
0.029 |
Mineralized intervals in OK-07-03 in detail
| From
(m) |
To
(m) |
Interval
(m) |
Copper
(%) |
MoS2 (%) |
| 73 |
116 |
43 |
0.17 |
0.031 |
| 123 |
135 |
12 |
0.17 |
0.020 |
| 151 |
156 |
6 |
0.27 |
0.032 |
| 160 |
170 |
10 |
0.27 |
0.030 |
| 176 |
179 |
3 |
0.24 |
0.020 |
| 187 |
188 (end) |
1 |
0.19 |
0.028 |
OK-07-03 is located approximately 50 metres to the east of the North Lake Zone (north side). The interval from 73.7 metres to 74.5 metres returned grades of 1.26% copper and 0.639% MoS2.
Hole OK-07-04
Excluding several internally dilutive dykes greater than 4 metres in thickness:
| Beginning |
Ending |
Aggregate
Mineralization |
Copper
(%) |
MoS2
(%) |
| 41 m |
141 m |
76 m |
0.34 |
0.020 |
Mineralized intervals in OK-07-04 in detail
| From
(m) |
To
(m) |
Interval
(m) |
Copper
(%) |
MoS2 (%) |
| 41 |
61 |
20 |
0.35 |
0.029 |
| 72 |
91 |
19 |
0.42 |
0.027 |
| 104 |
141 |
37 |
0.29 |
0.012 |
OK-07-04 is located near the western boundary of the North Lake Zone, adjacent to and underneath a hole drilled in 1972, hole 72-16, which bottomed at 97 metres.
Holes OK-07-01 to 04 have confirmed that mineralization in the North Lake Zone has not been constrained by depth and remains open on the eastern and western edges, offering substantial
opportunities for expansion of the resource.
South Breccia Zone, Winter 2007
The final drill program of 2007, which started in late October, was completed on December 15, 2007. This three hole drill program was designed to test the South Breccia Zone located 3,500 metres south of the North Lake Zone.
At the South Breccia Zone, well altered and locally highly mineralized exposures of hydrothermal breccia and silicified quartz diorite were previously identified but, until now, have had very little exploration. Three holes were completed totalling approximately 790 metres (2,600 feet). Both the first and second holes completed during the program returned large footages with visible chalcopyrite and molybdenite mineralization.
+0.055
