Prosper Gold Corp. Commences Property-Wide Helicopter-borne Geophysical Survey – Golden Sidewalk – Red Lake, ON
October 19 2020 - 7:30AM
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).
Survey Highlights
- 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.
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
BernierPresident & CEO
For further information, please contact:
Peter BernierPresident & CEOProsper Gold
Corp.Cell: (250) 316-6644Email: 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.
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