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Market:	ASX
Sector:	General Mining
EPIC:	PRW
Latest Price:	0.02 (-4.55% )
52-week High:	0.07
52-week Low:	0.02
Market Cap:	9.55M

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Proto Resources & Investments

Proto Resources & Investments (ASX: PRW) flagship is the Barnes Hill nickel-cobalt-iron project located in northern Tasmania, which is steadily advancing towards production. Subject to a successful feasibility outcome, Barnes Hill is slated to commence mining in early 2013 with a potential 26 year mine life at 250,000t per annum.

Proto Resources & Investments completes three hole drilling program at Mt Vetters Project

Wednesday, August 12, 2009

Proto Resources & Investments (ASX: PRW) has completed a maiden three hole Reverse Circulation (RC) drilling program at the Mt Vetters nickel and gold project, 30km northeast of Kalgoorlie in Western Australia.

The Mt Vetters tenements are located in the eastern part of the Norseman, 5km to the south of the Black Swan Komatiite Complex (BSKC), host to the Silver Swan nickel mine (Indicated Resource 640,000t @ 9.5% Ni), Black Swan (Probable reserve of 10.4Mt @ 0.83% Ni) and adjacent Cygnet deposit (Probable reserve of 1.1Mt @ 2.1% Ni) and occur 10km to the north of the Kanowna Belle Gold Mine.

Drill holes MVPRC 1 and MVPRC 3 were drilled to test nickel targets defined by ground EM anomalies previously delineated by geophysical surveys conducted by the Company and also by previous explorers.

Hole MVPRC 2 was drilled to follow-up some anomalous gold intercepts recorded in shallow historic aircore drilling in the area. Four metre composite spear samples were taken throughout the three RC drill holes completed and have been dispatched to ALS Laboratory Group for multi-element assay.

Further news will be release as assay results become available.

Proto Resource’s flagship project is the Barnes Hill project in northern Tasmania. A 12.1 million tonne JORC compliant indicated resource at 0.83% nickel and 0.07% cobalt is currently defined at Barnes Hill, with a recent resource drilling program set to upgrade a portion of this resource into the measured category.

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