Company Profiles

Prosper Gold

TSXV:PGX

Exploring and Developing High-grade Gold Vein Systems in Safe Canadian Jurisdictions

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Prosper Gold (TSXV:PGX) is a Canadian mineral exploration company leveraging its experience and past successes to find the next world-class high grade gold deposit in the Red Lake Mining District, Ontario, Canada. Prosper Gold management includes Peter Bernier and Dirk Templeman-Kluit, founders of Richfield Ventures Ltd. who were responsible for the discovery and subsequent sale of the multi-million-ounce Blackwater Gold deposit in British Columbia. In 2011, New Gold (TSX:NGD,AMEX:NGD) acquired Richfield Ventures for an estimated C$550 million. An updated resource estimate released in 2020 found a total of 8 million contained ounces of gold Blackwater property (proven and probable).

Through a combination of option (Sabina Gold & Silver Corp.), purchase agreements and staking activities, Prosper Gold has consolidated a land package totaling approximately 16,400 hectares in the world-renowned Red Lake Gold Mining District. The aptly named Golden Sidewalk property has numerous high-grade gold drill intercepts and several locations on the property where one can walk over visible gold at surface. Significant results achieved by Sabina Gold & Silver Corp. include 1.7 meters grading 46.0 g/t gold in 2008 drilling and surface rock samples that ran as high as 3,742.55 g/t gold. The project has seen no work since 2009.

The Red Lake district has produced almost 30 million ounces of gold from several world-class mines, including the historic Campbell and Red Lake mines, both of which produced gold for many years at ore grades of 0.57 oz/t gold on average. The Red Lake and Birch-Uchi greenstone belts both lie within the East Uchi Subprovince of Northwestern Ontario. Regional interest in the Birch-Uchi greenstone belt has been renewed by successful ventures such as the Dixie Gold project, where a significant discovery has been made by Great Bear Resources (TSXV:GBR), as well as the 4.9 million ounce Springpole project held by First Mining Gold (TSXV:FF). Geological similarities between the Golden Sidewalk property and other prosperous projects in the area highlight the expansion potential of the Birch-Uchi greenstone belt.

Gold mineralization found in the Red Lake area is typically associated with the presence of quartz-ankerite veins and breccias hosted by silica-biotite altered mafic to ultramafic volcanic rocks in proximity to major structural breaks. Prosper Gold’s land package includes all these characteristics. “We are excited to begin work in the Red Lake district,” said Peter Bernier, President and Chief Executive Officer of Prosper Gold Corporation. “The Golden Sidewalk and Skinner gold properties offer a favorable geological setting, with anomalous gold mineralization being encountered in till samples, outcrops, trenches and historical drill holes. The area contains all the correct attributes for economic gold deposits in the Red Lake district.”

Prosper Gold recently appointed Douglas Cater as its technical advisor for the company’s Ontario gold projects. Cater is a professional geologist with over three decades of experience in the exploration and mining of precious metals. He has previously acted as the Vice President of Exploration for Kirkland Lake Gold (TSX:KL) and St. Andrew Goldfields. The management team at Prosper believes Cater’s prolific track record of exploration discovery and resource expansion will be instrumental on the ground in Ontario.

Prosper Gold also holds a 51 percent controlling interest in the Star copper-gold project, an advanced exploration stage porphyry copper-gold project with several drill indicated zones and significant upside exploration potential.

Prosper Gold’s Company Highlights

  • 16,400 hectare land position within the Birch-Uchi greenstone belt, approximately 70 kilometers east of Red Lake
  • Red Lake district has produced 30 million ounces of gold from 29 mines in the area
  • Birch-Uchi greenstone belt hosts the Dixie Gold project (Great Bear Resources) and the Springpole project (First Mining Gold Corp.)
  • The Golden Sidewalk property offers a favorable geological setting with all the attributes for economic gold deposits in the Red Lake district
  • Management team includes Peter Bernier and Dirk Tempelman-Kluit, founders of the Richfield Ventures Corporation, which was acquired for C$550 million
  • Golden Sidewalk property is accessible year-round through all-season logging roads
  • Till sampling and airborne geophysics have been conducted on the Golden Sidewalk property with results expected in Q4 2020
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