Prosper Gold Corp. samples 32.6 g/t gold over 2.0 metres at Joe Vein - Golden Sidewalk - Red Lake, ON

 

Prosper Gold Corp. (" Prosper Gold " or the " Company ") (TSXV:PGX) is pleased to report assay results from the 2020 channel sampling program at the Joe Vein, located 850 metres south of the historical Bathurst Mine on 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, mining leases and patents. (see the company's Aug. 10, Sept. 8 and Sept. 15, 2020, news releases for details).

 

"The Joe Vein trench is the first of several historical prospects sampled over the course of Prosper Gold's 2020 reconnaissance program. Several prospects were sampled and mapped, and we look forward to releasing those results in the coming weeks." commented Peter Bernier, CEO. "We are also awaiting till survey results and are gearing up for an aggressive 2021 exploration season including diamond drilling."

 

  Table 1.   C   hannel   sampling   results   at   Joe Vein   trench    (center     of     trench     at 377,721 E / 6,106,031 N, UTM NAD 83 zone 1     5    ).  

 
                                                                                                                
Trench ID Channel ID From (m) To (m) Interval (m) Gold (g/t) Sample type
Joe Vein A 0
0.5 0.5 0.096 Saw-cut channel
Joe Vein A 0.5 1.5 1.0 0.005 Saw-cut channel
Joe Vein A 1.5 2.5 1.0 0.009 Saw-cut channel
Joe Vein   A    2.5    3.5    1.0    1.51   Saw-cut channel
Joe Vein   A    3.5    4.5    1.0    4.31   Saw-cut channel
Joe Vein   A    4.5    5.5    1.0    1.96   Saw-cut channel
Joe Vein   A-1    0    1   .0    1.0    58.1   Saw-cut channel
Joe Vein   A-1    1   .0    2   .0    1.0    7.17   Saw-cut channel
Joe Vein B 0 1.0 1.0 0.078 Saw-cut channel
Joe Vein B 1.0 2.0 1.0 0.082 Saw-cut channel
Joe Vein B 2.0 3.0 1.0 0.47 Saw-cut channel
Joe Vein B 3.0 4.0 1.0 0.022 Saw-cut channel
Joe Vein B 4.0 5.0 1.0 0.067 Saw-cut channel
Joe Vein   B    5.0    6.0    1.0    2.64   Saw-cut channel
Joe Vein B 6.0 7.0 1.0 0.016 Saw-cut channel
 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

  


Figure 1
accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/990cbf85-8a47-4a83-90ac-5f73a79597be  

 

At the Joe Trench, strongly sheared massive and pillowed basalts belonging to the Narrow Lake Assemblage host numerous sulphide-bearing quartz veins up to 4 metres in width. Sulphides observed include pyrite, pyrrhotite, arsenopyrite and rare galena. Historical exploration in the immediate area has reported localized molybdenum and visible gold. Geological mapping of the trenched area hosting the Joe Vein(s) shows some important features that reflect two significant deformation events in the Red Lake and Birch-Uchi greenstone belts. An early "D1" deformation characterized by eastward to east-northeast directed compression and resultant shortening typically manifests as ENE-WSW trending quartz ± sulphide vein sets. Later "D2" deformation is characterized by south-southeast directed compression and resultant shortening which typically manifests as WNW-ESE trending quartz ± sulphide vein sets. While D2 related veins and structures exists across much of the Golden Sidewalk property, the veins above exhibit a trend more typical of D1 and have subsequently been deformed and/or off-set by D2 associated strain. This supports the potential for both gold bearing D1 and D2 structures and associated vein systems on the Project.

 

  QA/QC Procedures  

 

Channel samples were cut with a cut-off saw across select areas of previously stripped bedrock exposures at nominal widths and depths of 5 cm and 8 cm, respectively. Channel samples were collected and placed in polyethylene bags, sealed with zip-ties then shipped to Activation Laboratories Ltd. ("ActLabs") in Timmins, Ontario, where they were crushed then 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 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.

 

  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.

 

  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  

 

Per: "    Peter Bernier    "  
Peter Bernier
President & CEO

 

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.  

 

  Primary Logo 

 

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×