PROTO Resources & Investments has announced that the company’s share price has shot up over 300% with over 32 million shares traded following its drilling success at its 80% owned Lindeman's Bore prospect, Northern Territory.
The company says that after exhaustive geophysical surveying and modelling and geological mapping at surface of the prospect, drilling commenced and the first diamond drill hole intersected a 15 metre wide zone of visible copper mineralisation.
The company says that initial results underpin current campaign by NT Geological Survey to evolve an enhanced understanding of the geological provinces of the NT in a new review due end 2009. Lindeman’s Bore drilling backed by $100,000 of NT Government support.
It is interesting to note that no previous mineralisation occurrences are known in the vicinity of Lindeman’s Bore.
Drill core has now been transported to Darwin for processing with laboratory assay results expected to be available by early August 2009. A hole re-entry is planned later in calendar 2009 to test for deeper mineralised extensions.
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