18/05/2004 - 22:00

Yalgoo doubles prosperity

18/05/2004 - 22:00

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Yalgoo doubles prosperity

PROSPERITY Resources has doubled its Yalgoo North Project’s resources to about 140,000 ounces of gold.

An aggressive drilling program since its listing last November has paid off with the confirmation of a doubling of the resources at Yalgoo North and scope to increase again.

Propserity Resources managing director Ric Dawson said the exploration showed a resource of about 2.2 million tonnes at two grams per tonne of gold.

"With the close proximity of two established gold treatment plants near Yalgoo and with the economics of a significant gold deposit, the possibility of becoming a gold producer are starting to become a reality," he said.

Work is to commence on a new drill program in May. The company is looking to engage an independent mining engineer to project manage its transition from explorer to miner.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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