Drilling to start at Okeover Copper-Molybdenum property, coastal British Columbia



    TSX-V Symbol: PCY

    VANCOUVER, June 7 /CNW/ - A 1,500 metre (5,000 feet) drill program
consisting of nine holes with a budget of approximately $450,000 is now
underway at the Okeover Copper-Molybdenum property, with drilling due to start
any day.
    Four of the drill holes at Okeover will target expansions to the existing
North Lake Zone, where, in late 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. This is only one of the eight zones of known mineralization and the
only one where detailed drilling has been completed. Three of the new drill
holes will test the soil anomaly identified in 2006 at the Northwest Zone,
where soil samples returned values of up to 534 parts per million ("ppm")
molybdenum (with numerous samples in excess of 100 ppm molybdenum) and two
drill holes will test the South Breccia Zone.
    The Okeover property is located twenty-five kilometres north of the City
of Powell River, British Columbia and several kilometres east of Okeover
Inlet, extending southerly from tidewater on Theodosia Inlet. The property
consists of fourteen claims covering 5,233 hectares of land. Access is by way
of 30 kilometres of highway and secondary logging roads from Powell River. The
central part of the property features relatively gentle topography with
elevations ranging from 800 to 1,100 metres (2,600 to 3,600 feet) above sea
level.
    Since its discovery in 1965, the Okeover property has been explored by a
number of geological, geochemical and geophysical surveys and by more than
15,000 metres of drilling. Eight zones of copper and molybdenum mineralization
have been identified over a northerly trend of five kilometres in the central
property area. All but one of these zones consists of pyrite, chalcopyrite and
molybdenite hosted by quartz veinlets and stockworks. The South Breccia Zone
is different and features higher copper grades of up to several percent in an
intrusive breccia. It has seen only limited drilling to date.
    Okeover is currently under option from Eastfield Resources Ltd. (TSX-V:
ETF). Prophecy can earn a 60% interest in the project by completing $1,000,000
in exploration before March 8, 2010. Work funded by Prophecy in 2006 outlined
a new copper-molybdenum soil anomaly over a substantial area approximately
1.5 kilometres to the northwest of the North Lake Zone.

    J.W. (Bill) Morton P.Geo director and qualified person within the context
of National Policy 43-101 has read and takes responsibility for this news
release.

    ON BEHALF OF THE BOARD OF DIRECTORS

    "JAMES BROWN"

    ---------------
    James Brown, President

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: visit our web site at www.prophecyresource.com
or contact us toll-free at (888) 818-8748.

Organization Profile

PROPHECY RESOURCE CORP.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890