TSX-V Symbol: PCY
VANCOUVER, July 8 /CNW/ - Prophecy Resource Corp. has completed six
diamond drill holes (1,449 metres) at the Okeover copper-molybdenum project
located on the south coast of British Columbia. Five of the six holes were
completed as step outs to the south and west of the existing resource area at
the North Lake Zone (86.8 million tonnes grading 0.31% copper and 0.14% MoS2,
calculated by N.C. Carter PhD, P.Eng, in 2006). The sixth and final hole was
drilled from a site located 3,000 metres to the south of the North Lake Zone.
The objectives of this drill program were twofold. Firstly, to attempt to
expand the North Lake zone to an anchor resource in excess of 100 million
tonnes and secondly to explore other largely unexplored areas of the
5,233 hectare property. Results of the current program are expected to be
available by the middle of July and a revised resource estimate, in accordance
with National Instrument 43-101, is expected to be initiated later in the
Okeover is located 140 kilometres north of the city of Vancouver near the
community of Powell River and within 45 minutes by truck of a deep water ocean
port. The extremely favourable logistics at Okeover, which include its
location on the Pacific Rim, reinforce the significance of this project.
J.W. (Bill) Morton P.Geo is the qualified person pursuant to National
Instrument 43-101 guidelines who takes responsibility for this news release.
About Prophecy Resource Corp.
Prophecy is in the process of earning a 60% interest in the Okeover
Copper-Molybdenum in British Columbia from Eastfield Resources Ltd.
(TSX.V: ETF). In late 2006, N.C. Carter, PhD, P.Eng. completed a technical
report on the Okeover Property pursuant to National Instrument 43-101 that
estimated an inferred mineral resource of 86.8 million tonnes grading
0.31% copper and 0.014% MoS(2) at a 0.20% copper cut-off grade (approximately
593 Million lbs of copper and 15 million lbs of MoS(2)).
ON BEHALF OF THE BOARD OF DIRECTORS
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: about Prophecy, please visit our web site at
www.prophecyresource.com or contact us toll-free at (888) 818-8748