Prosper Gold Corp. outlines several gold-in-till anomalies and samples high-grade gold at multiple prospects at Golden Sidewalk – Red Lake, ON
VANCOUVER, British Columbia, Nov. 25, 2020 (GLOBE NEWSWIRE) — Prosper Gold Corp. (“Prosper Gold” or the “Company“) (TSXV:PGX) is pleased to report rock and till sampling results from the 2020 exploration program at the Golden Sidewalk Project (the “Project”) in the Birch-Uchi region of Red Lake. 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).
Highlights:3 pristine gold grain anomalies outlined in 32 square kilometre reconnaissance till surveyChannel rock sampling at two discrete zones, results include 1.0 metre grading 15.3 g/t goldRock chip samples up to 16.3 g/t gold at Skinner North prospect, no historical drilling
“High grade gold in surface rock sampling at the Dunkin, KT Vein and Skinner North prospects gives us confidence in existing targets prior to drilling,” commented Peter Bernier, CEO. “We are excited by the identification of three pristine gold grain anomalies near the regional unconformity. All three are in areas with no historical drill programs and are exciting developments in our regional targeting initiative. The UC anomaly area is our highest-ranking conceptual target based on available historical data and crews have infill sampled this target. Results are expected in the coming weeks.”Till samplingThe 2020 reconnaissance till sampling program at the Golden Sidewalk Project was designed to detect anomalous gold-in-till near a regional angular unconformity between the Narrow Lake and the Balmer Assemblages. Such regional unconformities may localize structural corridors for hydrothermal fluid migration and gold mineralization. Till sampling at 250 m intervals was conducted along lines spaced at 1 km. Three areas with anomalously high gold grain counts were detected. A high proportion of the gold grains are classed as pristine gold. This suggests a nearby bedrock source.Figure 1. Map showing anomalies of pristine gold grains from 2020 till sampling survey.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5910591e-7202-4bea-ab22-e7421dee054cThe largest anomaly, the UC, has the highest pristine grain count (samples up to 143 gold grains with 78 pristine grains) directly north of the Narrow Lake / Balmer unconformity. The E-12 anomaly, also to north of the unconformity, has the highest gold-grain-in-till sample of 149 gold grains (69 pristine grains). The Balmer anomaly consists of 5 elevated pristine grain samples, covering 1.25km, over the Balmer Assemblage rocks to the south of the unconformity. The new till sampling results bolster the company’s high priority geophysical and conceptual targets.Channel rock samplingChannel sampling and mapping was completed at the Joe Vein, Dunkin 2 and KT vein to gain insight into gold mineralization at these areas. Results from the Joe Vein have been previously reported (see the Company’s Nov. 16, 2020 news release) while the comprehensive channel sampling results for the Dunkin 2 and KT vein are provided below.Table 1. Channel sampling results at Dunkin 2 and KT vein trenches (center of trenches at 509,176 E / 5,674,473 N, and 507,410 E / 5,679,072 N, respectively. Coordinates within UTM NAD 83 zone 15).Figure 2. Plan map of Dunkin 2 Trench
https://www.globenewswire.com/NewsRoom/AttachmentNg/98c06df6-477c-4941-9c97-92150b0bf8d6The Dunkin 2 Trench is described as strongly sheared massive basalts belonging to the Narrow Lake Assemblage hosting numerous sulphide-bearing quartz veins up to 1 metre in width. Sulphides observed within quartz veins and in mineralized wallrock consist of pyrite and lesser chalcopyrite. Quartz veins trending west-southwest have been deformed locally suggesting a relatively early timing on gold mineralization in the context of the deformational history of the Birch-Uchi greenstone belt.Figure 3. Plan map of KT Vein Trench (BD denotes “below detection limit”).
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ce23fe0-f7f4-4e3e-9c9a-194b3ab22f7eThe KT Vein Trench exhibits a quartz vein near the contact between sheared massive basalts belonging to the Narrow Lake Assemblage and a west-northwest trending felsic dike. Sulphides within the quartz vein include pyrite and lesser arsenopyrite and chalcopyrite. The west-northwest trend and the undisturbed nature of the quartz vein suggest timing of the gold mineralization at the KT vein is related to the later D2 deformational event in the Birch-Uchi greenstone belt.Rock sampling / prospectingThe season’s exploration included prospecting. A highlight of this work is the sampling of high-grade gold at surface at the historical Skinner North prospect, an area that has seen no drilling to date. The Skinner North prospect is 2.4 kilometres southwest of the historical Bathurst Mine. All 4 rock samples collected at Skinner North are sheared and silicified mafic volcanics with fine pyrite and pyrrhotite vein fill. Results of the sampling are provided below.Table 2. Rock sampling results from the Skinner North prospect (coordinates within UTM NAD 83 zone 15).About the Golden SidewalkThe 16,400-hectare Golden Sidewalk project is 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. 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 ProceduresChannel samples were cut with a cut-off saw across select areas of previously stripped bedrock exposures at medial widths and depths of 5 cm and 8 cm, respectively. Channel samples were collected and placed in polyethylene bags, sealed with zip-ties shipped to Activation Laboratories Ltd. (“ActLabs”) in Timmins, Ontario, where they were crushed and pulverized to 95% passing 105-micron mesh. Samples were analyzed using ActLabs 1A2-50 analytical package, whereby 50 g aliquots are subjected to gold fire assay and finished with Atomic Absorption (“AA”) spectroscopy. Overlimit samples (> 5 g/t gold) were assayed with ActLabs 1A3-50 fire assay package with a gravimetric finish. Internal laboratory standards were used and checked upon analysis as a means of quality assurance.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.Rock grab samples were placed into polyethylene bags which were sealed and shipped to SGS Laboratories in Red Lake, ON, where they were crushed then pulverized to 95% passing 105-micron mesh with 50 g aliquots subjected to gold fire assay and subsequent AA finish. Overlimit samples (> 10 g/t gold) were subjected to 50 g fire assay with a gravimetric finish. Internal laboratory standards were used and checked upon analysis as a means of quality assurance.Qualified PersonThe 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 DIRECTORSFor further information, please contact:
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: Pete@ProsperGoldCorp.comInformation 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.