News

VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) -- 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.
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Figure 2. Photomicrograph of isolated gold grains from sample UC-13. Note scale bar in lower left.
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Table 1. Select Golden Corridor till samples.

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.
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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.
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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

For further information, please contact:

Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: 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.