VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) is pleased to announce it has commissioned Abitibi Geophysics Ltd. to complete a 58 line-kilometre Induced Polarization (“IP”) survey at the Golden Sidewalk Project (the “Project”) in the Birch-Uchi region of Red Lake. The survey will cover the newly identified Golden Corridor extending the historical IP coverage eastward (for details of the Golden Corridor see the Company’s Dec. 1, 2020 news release). The Company also announces that it has, subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange"), retained CM-Equity AG (“CM”) to provide marketing, market awareness and corporate broker services, pursuant to agreements entered into between the Corporation and CM dated as of February 17th, 2021 (the “CM Agreement”).
“The Company engaged a leading geophysical services company Abitibi Geophysics to extend historical IP coverage eastward at the Golden Corridor focusing on the large pristine gold grain-in-till anomaly outlined by our team. The survey will also cover the E-12 till anomaly which is another target identified in 2020 that has not yet seen follow-up groundwork. E-12 lies three-and-a-half kilometres east along-trend from the Golden Corridor,” commented Peter Bernier, CEO. “As we lead up to our 2021 drilling program, we are pleased to have retained Michael and his team at CM Equity to help give the Company exposure to European retail and institutional investors.”
Figure 1. Map showing 2021 planned Induced Polarization survey grid and 2020 till highlights.
Abitibi Geophysics will be utilizing its proprietary OreVision® technology which can reveal targets at a greater depth than conventional IP without compromising near-surface resolution. The survey will extend eastward from the Golden Corridor to the E-12 till anomaly (Figure 1). The E-12 anomaly, outlined during Prosper Gold’s summer 2020 reconnaissance till survey, is defined as a 1,300 m long gold grain-in-till anomaly that is open to the east and west.
CM-Equity AG is a European-regulated investment boutique and financial service provider based in Munich, Germany. CM is active in cross-border activities all over Europe and licenced for corporate brokerage services from market making to fund-raising and M&A activities. CM offers its corporate clients access to its regulatory compliant digital asset platform which offers attractive and modern forms of public financings. Further on, CM acts as a platform for institutional as well as retail investors to get direct access to its corporate clients through meetings, conferences, webinars and social media channels.
Pursuant to the CM Agreement, CM has been retained by the Company for an initial period of twelve months. Upon expiration of the initial term, the Agreement shall be automatically renewed on a twelve-month basis (subject to termination by the Company by written notice three months prior to the end of the full year). CM will be responsible for assisting Prosper Gold in all aspects of corporate profiling, awareness campaigns and corporate broking for the Corporation in Germany and beyond. CM will be paid a fee in the amount of 50 000 Euros per year. Michael Kott will be the responsible person. Other than the CM Agreement, there is no relationship between CM and the Company, nor is there any direct or indirect interest in the Company or its securities or any right or intent to acquire such an interest on the part of CM.
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.
For a detailed overview of Prosper Gold visit www.ProsperGoldCorp.com
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., a Qualified Person under National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
|President & CEO|
For further information, please contact:
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
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.
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