proactive investors article

http://www.proactiveinvestors.com.au/companies/news/54570/promesa-may-have-discovered-a-large-copper-system-at-alumbre-in-peru-54570.html

Promesa's (ASX: PRA) shares are likely to climb after intersecting significant widths of fine grained copper and molybdenum at its Alumbre porphyry project in Peru.

A large Potassic zone of mineralisation has been intercepted with veinlets of chalcopyrite, bornite and molybdenite) is observable through more than 340 metres of drill core.

Chalcopyrite also occurs sporadically with pyrite as semimassive and massive veining up to 50mm wide.

The combination of chalcopyrite and pyrite veinlets with biotite alteration halos provides strong evidence that this drill hole has entered the targeted Potassic zone.

Generally, pyrite content is less than 5%, which is common in porphyry systems as chalcopyrite concentration increases.

Secondary biotite, the strongest potassic zone indicator, is moderately developed throughout the drill hole, and bornite occurs in several locations towards the end of the hole at 401 metres.

The molybdenite occurs in multiple zones within the interval from 300 metres to 400 metres as veinlets and in disseminated form.

In addition, various andesitic volcanic units and dykes were intersected to 231.5 metres.

Below this, the drill hole intersected a porphyritic Tonalite with weak to moderate secondary biotite alteration through to the end of the drill hole.

The Tonalite is strongly xenolithic and numerous sections have been hydrothermally brecciated and carry chalcopyrite mineralisation.

Importantly, copper and molybdenum mineralisation are present throughout both the volcanic and intrusive rocks in this drill hole.

The geological observations of the drillcore validate the Promesa's exploration model, and the core will be sampled and
assayed once logging is complete.

Drilling continues at the fifth diamond hole, and all indications to date are that Promesa may have discovered something substantial.