CORRECTION FROM SOURCE: Prophecy Reports 5 Major IP Anomalies and Commencement of Drilling at its Lynn Lake Project, Manitoba
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 8, 2010) – A improvement from source is released with apply oneself to the headlines recover sent out at 1:47 pm PT, Sept. 8, 2010. The date of the Prophecy headlines cited in the initial divide was incorrect, and has been revised. The prepared recover follows:
Prophecy Resource Corp. (“Prophecy” or the “Company”) (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) announces the derivation of a 3,000 metre training module at the Lynn Lake Project, located in Lynn Lake, Manitoba. The training module is written to exam newly detected targets from the not long ago finished Induced Polarization (IP) consult (see Prophecy July 7, 2010 news). Five brand new aim areas have been tangible regulating a exclusive deep-seeking IP-method which penetrates to inlet which were formerly unexplored by VTEM. The 5 anomalies have been dubbed the ‘North’, ‘East’, ‘West’, ‘Middle-East’, and ‘Centre’ anomalies formed on their spatial placement on the property.
The West curiosity occurs we estimate 500 meters southwest of the A-shaft, and starts at 250 meters depth. The curiosity extends to at slightest 600 meters abyss and stays open over the showing boundary of the survey. It has a tighten spatial organisation with the ‘G’ deposition which occurs at the 3000 Level (914 meters from surface), which is next and only to the easterly of the West anomaly. The ‘G’ deposition has a NI 43-101 agreeable Inferred apparatus of 296,000 tonnes of 0.8% nickel, 0.4% copper regulating a 0.7% nickel homogeneous cut-off.
The Center-East curiosity occurs we estimate 200 meters grid easterly of the Farley Shaft, and we estimate 250 meters grid easterly of the ancestral ‘B’ open-pit. This curiosity occurs 250 metres from aspect fluctuating to larger than 600 meters abyss on 5 grid lines over 300 meters length. The circuitously Farley missile supposing entrance to the ‘B’ orebody which was mined regulating both open-pit and subterraneous methods in between 1952 and 1976. The cave constructed a sum of 4.3 Mt of 0.7% nickel and 0.5% copper during ancestral operations. The Center-East curiosity occurs at 250 metres from aspect fluctuating to larger than 600 meters depth. No ancestral training has been conducted in the aim area.
The Centre curiosity occurs inside of 100 meters grid-south of the ‘B’ pit. The curiosity starts from 180 meters abyss and extends past 600 meters from surface, and is seen on 4 gridlines for over a length of 250 meters.
The North Anomaly occurs in a remote muddy area on the north finish of the property, and is seen over a length of 4 lines or over 250 meters length. It occurs as dual apart anomalies overlying any other. One is a shoal curiosity centered at we estimate 100 meters depth, the alternative curiosity is without delay next this shallower expression, starting at we estimate 300 meters depth.
The East curiosity centred 200 meters next the existent Disco deposition and is we estimate 475 meters from aspect which extends on gridlines to the south, for a sum set upon length of we estimate 150 meters. This curiosity appears to enlarge in power with depth, over 610 meters from surface, where the consult was means to penetrate. The chargeability and resistivity strongly resemble which of well known mineralization such as which of the ‘N’ orebody, which hosts an eleven MT Measured and Indicated apparatus (0.4 MT Measured, 10.7 MT Indicated) grading 0.6% nickel and 0.3% copper. (Please impute to Company’s press recover antiquated Jul 7, 2010 for finish details).
Please revisit www.prophecyresource.com for cavalcade locations and the phony 3D IP curiosity charts for any cavalcade target.
The stream cavalcade module is approaching to take 8 to 10 weeks to finish and will exam any of the targets where the anomalies have the strongest and clearest response.
This headlines recover has been reviewed and authorized by Danniel J. Oosterman, P.Geo., and a Qualified Person as tangible in NI 43-101.
About Prophecy
Prophecy Resource Corporation is an internationally diversified association intent in building energy, nickel and gold organisation metals projects. The association controls over 1.4 billion tons of open-pittable thermal spark in Mongolia (839 Mt Measured, 579 Mt Indicated). In Canada Prophecy owns Lynn Lake Nickel Project, a 10% equity interest in Victory Nickel and concluded to combine with Northern Platinum (TSX-V: NTH) on Jun 15, 2010. Mineral resources which have been not vegetable pot do not have demonstrated mercantile viability.
ON BEHALF OF THE BOARD OF DIRECTORS of Prophecy Resource Corp.
John Lee, Chairman
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