Prophecy acquires 80% of Vanadium-Titanium-Iron Project in Ontario
TSX-V: PCY OTC: PCYRF Frankfurt: 3P1
The Titan project is located in eastern
Magnetite, ilmenite, titanium dioxide, and vanadium mineralization at Titan occurs in a southeast plunging body in gabbro to leucotroctolite in the northeastern corner of the Fall Lake complex. The Titan deposit is located at the northern end of an aeromagnetic anomaly that is approximately 1,200 by 800 meters in area.
A total of 4,898 assay intervals are recorded from 38 core holes drilled by Randsburg on the property. Drilling highlights reported by Randsburg included 142 meters of 0.27% Vanadium (0.48% Vanadium Pentoxide) from hole RA-5-21 and 174 meters of 0.26% Vanadium (0.46% Vanadium Pentoxide) from hole RA-5-10. The mineralization started from surface to an open vertical depth of 500 meters. The complete horizontal and vertical extent of the deposit is still to be determined. Information on the geology at Titan and assay results reported by Randsburg are available on our web site at www.prophecyresource.com.
A Technical Report dated
Under the agreement, Prophecy shall have the right to acquire an 80% interest in the Titan Project by paying Randsburg an aggregate of
This news release has been reviewed and approved by
About Prophecy Resource Corp.
Prophecy has entered into an agreement to acquire the Lynn Lake Nickel Project in
Prophecy has also earned a 60% interest in the Okeover Copper-Molybdenum property in B.C. where, in 2006, Dr.
ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Resource Corp. "JOHN LEE" John Lee Chairman
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SOURCE Prophecy Resource Corp.