Prosper Gold samples up to 882 pristine gold grains within 3.3-kilometre pristine gold grain-in-till anomaly at Golden Sidewa...
December 01 2020 - 8:00AM
Prosper Gold Corp. ("
Prosper Gold" or the
"
Company") (TSXV:PGX) is pleased to report infill
till sampling results from the 2020 exploration program at the
Golden Sidewalk Project (the “
Project”) in the
Birch-Uchi region of Red Lake.
Highlights:
- Infill till sampling has
outlined a 3,300 x 500 metre
pristine gold grain-in-till anomaly which remains open for
expansion
- Till samples
containing up to 882 pristine gold grains
- Large-scale
(>5
kilometre)
conceptualized gold target, referred to as the “Golden
Corridor”, now supported
by pristine gold grain-in-till
results
“The Golden Corridor has become an exciting
exploration target with the recently outlined pristine gold
grain-in-till anomaly,” commented Peter Bernier, CEO. “The
abundance and pristine nature of the gold grains suggests the
presence of a gold system in the immediate vicinity. The anomaly
remains open and we will be working to expand upon these results
while preparing for the 2021 drilling season. This is a new
exploration target on the Project which has seen no drilling to
date.”
Till sampling
Infill till sampling results at the UC Anomaly (see
the Company's Nov. 25 news release for information) collected late
in the 2020 exploration season have been received by the Company.
Of the 40 samples collected and processed, 32 samples have pristine
grain counts higher than 10, with sample UC-13 containing 882
pristine gold grains (Figures 1 and 2). The high number of
exceptionally large pristine grains in sample UC-13 resulted in a
contained gold concentration of 110.8 g/t gold (Table 1). Glacially
transported gold grains with a pristine morphology have not
travelled more than 100 metres (Averill, S.A., 2001).
Figure 1. Photomicrograph of
selected gold grains from sample UC-13. Note scale bar in lower
left.https://www.globenewswire.com/NewsRoom/AttachmentNg/e12dd070-352e-43a6-9838-79fb6afe3117
Figure
2. Photomicrograph of
isolated gold grains from sample UC-13. Note scale bar in lower
left.https://www.globenewswire.com/NewsRoom/AttachmentNg/c74fe8d0-7aec-4158-a63f-bdcc2f8f9a8f
Table 1. Select Golden Corridor till
samples.
Sample ID |
Easting |
Northing |
Totalgoldgrains |
Pristine goldgrains |
% pristinegrains |
Total gold(ppb) |
Total pristine(ppb) |
UC-13 |
509,000 |
5,673,000 |
882 |
882 |
100 |
110,770 |
110,770 |
UE-8 |
507,799 |
5,672,596 |
222 |
84 |
37.8 |
262 |
85 |
A-7 |
507,047 |
5,672,692 |
143 |
78 |
54.5 |
1,065 |
73 |
UC-10 |
508,206 |
5,672,640 |
92 |
57 |
62.0 |
115 |
83 |
Infill till samples were collected on a 200 x 200
metre grid where adequate sample media was available. The survey
infilled and extended the previously outlined UC Anomaly in both
the up-ice (east-northeast) and down-ice (west-southwest)
directions (Figure 3). The anomaly remains open to the east, north
and west.
Figure
3. Map
highlighting anomalous gold
grains-in-till at the Golden
Corridor.https://www.globenewswire.com/NewsRoom/AttachmentNg/a148340c-5104-407c-8a59-72a11e76ea52
The Golden Corridor lies immediately north of a
regional angular unconformity between the Narrow Lake and Balmer
Assemblages (Figure 4). Such regional unconformities may localize
structural corridors for hydrothermal fluid migration and gold
mineralization. At least two linear targets with potential strike
lengths of greater than 5 kilometres have been identified based on
the coincidence of IP resistivity high and linear magnetic low
signatures and their proximity to the regional unconformity. These
targets are now supported by the existence of a significant
pristine gold grain-in-till anomaly.
Figure 4.
Map showing Golden Sidewalk zones and
prospects.https://www.globenewswire.com/NewsRoom/AttachmentNg/df6223ab-9efe-4eb0-9fd9-49dede3f1097
About the Golden Sidewalk
The Golden Sidewalk is a district-scale gold
exploration project covering over 160 square kilometres of
contiguous mineral claims and mining leases (see the Company's Aug.
10, Sept. 8, and Sept. 15, 2020 news releases for details) in the
western Birch-Uchi Greenstone Belt, approximately 60 km east of Red
Lake, Ontario. The vehicle-accessible project straddles 12
kilometres of the Balmer Assemblage – Narrow Lake Assemblage
unconformity, a regional-scale feature that has been the Red Lake
exploration guide, but which has seen limited exploration in the
project area. The recently identified “Golden Corridor” lies
immediately north of the unconformity in the western portion of the
property and is characterized as a highly prospective, greater than
5 kilometre trend of coincident favourable magnetic and resistivity
lineaments supported by highly anomalous gold-in-till samples
covering 3.3 by 0.5 kilometres. Historical drilling programs at the
Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects
reported high-grade gold intercepts which warrant follow-up.
QA/QC Procedures
Till samples were collected from below the
colluvial soil profile at a medial depth of 50 to 75 centimeters
and placed into 5-gallon plastic pails which were sealed and
shipped to Overburden Drilling Management Ltd. in Nepean, Ontario
for processing. The gold grain testing involves extracting an
impure preliminary heavy mineral concentrate from the -2 mm matrix
of each sediment sample by tabling, separating any recovered gold
grains from the table concentrate and measuring each grain and
classifying it according to its degree of physical wear. Average
tabled sample weights were 10.9 kg for the infill batch presented
in this news release.
Qualified Person
The scientific and technical information in this
news release has been reviewed by Dirk Tempelman-Kluit, PhD,
P.Geo., a Qualified Person under National Instrument 43-101.
For a detailed overview of Prosper Gold please
visit www.ProsperGoldCorp.com. ON
BEHALF OF THE BOARD OF DIRECTORS
Per: |
"Peter Bernier" |
|
Peter Bernier |
|
President & CEO |
For further information, please contact:
Peter BernierPresident & CEOProsper Gold
Corp.Cell: (250) 316-6644Email: Pete@ProsperGoldCorp.com
Information set forth in this news release may
involve forward-looking statements under applicable securities
laws. Forward-looking statements are statements that relate to
future, not past, events. In this context, forward-looking
statements often address expected future business and financial
performance, and often contain words such as "anticipate",
"believe", "plan", "estimate", "expect", and "intend", statements
that an action or event "may", "might", "could", "should", or
"will" be taken or occur, or other similar expressions. All
statements, other than statements of historical fact, included
herein including, without limitation, statements about the planned
exploration of the Golden Sidewalk project, are forward-looking
statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following risks: the need for additional financing; operational
risks associated with mineral exploration; fluctuations in
commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition;
dilution; the volatility of our common share price and volume and
the additional risks identified the management discussion and
analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and the
Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue
certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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