VANCOUVER, British Columbia, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) is pleased to announce that a high resolution helicopter-borne geophysical survey has commenced 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 patents (see the company's Aug. 10, Sept. 8 and Sept. 15, 2020, news releases for details).
- Prosper Gold has contracted Terraquest Ltd. to complete the survey
- The survey consists of 2,300-line kilometers at 50m line spacing with the goal of identifying structurally-related exploration targets with high resolution magnetic and electromagnetic data
- The survey will be flown at 20-25 metres above ground level
- A helicopter-borne acquisition system will collect horizontal magnetic gradient data and very low-frequency electromagnetic (VLF-EM)
“The initiation of a high resolution magnetic and VFL-EM survey is an important step towards identifying regional targets beyond the historically drilled high-grade gold at the Bathurst Mine and surrounding prospects. The data will serve to bolster existing geochemical and ground geophysical targets, while outlining new exploration targets for follow-up and the first diamond drill program on the project since 2009,” commented Peter Bernier, CEO. “This will be the largest high-resolution airborne survey flown over this area of the Birch-Uchi belt to date.”
About the Golden Sidewalk
The 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 program at the Bathurst Mine, Joe Vein, KT vein, Dunkin and Vihonen prospects reported high-grade gold intercepts which warrant follow-up.
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”
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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