Prosper Gold Corp. Outlines Plan for Upcoming Winter Drilling at Golden Sidewalk Project
December 12 2023 - 8:00AM
Prosper Gold Corp. ("
Prosper Gold" or the
"
Company") (TSXV:PGX) outlines plan for its
upcoming diamond drilling program commencing in the first week of
January 2024 at the Golden Sidewalk Project, Red Lake Mining
District, Ontario. Up to 2,500 m of drilling will be completed at
the Skinner Target Area.
Figure 1 - IP geophysics and proposed
drill holes at Skinner Target Area.
Skinner – The Skinner Target
Area is a 2.5- by 1.5-kilometre area of coincident high IP
chargeability and resistivity under glaciofluvial cover with
numerous WNW-trending shear zones with anomalous down-ice gold
grain-in-till samples (Figure 1). Preliminary drilling in this area
in November of 2022 intersected broad shear zones exhibiting
silica-biotite-ankerite alteration and abundant sulphide
mineralization which was locally gold-bearing (see the Company's
Jan. 9, 2023 news release for details).
Despite glaciofluvial cover in this area till
sampling in 2021 by the Company achieved results up to 1,014 gold
grains (97% pristine) in sample GST-21-223 and 735 gold grains (95%
pristine) in sample GST-21-317 (see the Company’s May 17, 2022 news
release for details). Based on geological observations from the
field and from the 2022 drilling, the Company believes the area has
high-potential for higher-grade gold mineralization, particularly
proximal to the contact between Narrow Lake Assemblage volcanics
and the Trout Lake Batholith several hundred metres to the west of
the 2022 drilling where hornfelsed volcanics are more conducive to
brittle fracture. The Company will drill several discrete targets
associated with favourable geophysical signatures, highly anomalous
till samples and/or historically defined mineralized shear
zones.
About the Golden Sidewalk
The Golden Sidewalk is a 100% owned,
district-scale gold exploration project covering over 160 square
kilometres of contiguous mineral claims and mining leases in the
western Birch-Uchi Greenstone Belt, approximately 60 km east of Red
Lake, Ontario and 60 km northeast of Kinross Gold’s Dixie Project,
acquired from Great Bear Resources in 2022. 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 “Golden Corridor” lies
immediately north of the unconformity and is characterized as a
highly prospective trend of coincident favourable magnetic and
resistivity lineaments supported by highly anomalous gold-in-till
samples covering 7.0 by 0.5 kilometres. An additional highly
prospective target area was defined in 2021, termed the Skinner
North Target Area, where 2022 channel sampling results include 9.69
gpt gold over 3.0 metres and 13.13 gpt gold over 1.8 metres and
till samples containing up to 1,014 gold grains, was drilled for
the first time in November of 2022. Historical drilling by previous
operators at the Bathurst Mine, Joe Vein, KT vein, Dunkin and
Vihonen prospects reported high-grade gold intercepts which have
yet to be followed up by Prosper Gold.
Qualified Person
The scientific and technical information in this
news release has been reviewed by Rory Ritchie, P.Geo.,
Vice-President of Exploration for Prosper Gold and 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 BernierPresident &
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a87eca45-33a2-4e2b-81bd-d0bff8217a70
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